Ex-oil minister, Access Bank’s N2.2bn suit resumes June 30

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The Court of Appeal in Lagos will on June 30, receive a report of settlement in a N2.2billion dispute between Obodex Nigeria Ltd and Access Bank Plc.

A three-man panel of the court led by Justice Abubakar Tijani fixed the date following commencement of out-of-court settlement between the parties.The bank and Etiebet have been parties to multiple suits arising from counter claims between them, following a transaction between the bank and Top Oil and Gas Nigeria Ltd, also owned by Etiebet.

The Federal High Court in Lagos, last December 17, granted an interlocutory order in favour of Mr Kunle Ogunba SAN, who Access Bank appointed as receiver/manager to recover the alleged N2.2bn. When the motion on notice came up last Wednesday, Obodex’s counsel, Mr Dele Adesina, told the panel that parties in the matter had agreed to resolve the issues out-of-court.

The Silk’s disclosure was confirmed by counsel to the respondent, Mr. Etimen Oriaifo, following which the justices granted the prayer.

 

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