Categories: Economy

Contempt: Court Convicts First Bank Chairman, MD Over N122bn Judgment Debt

A Federal High Court in Lagos Wednesday convicted the Chairman of First Bank of Nigeria Limited, Ibukun Awosika, and Managing Director, Dr. Adesola Adeduntan, as well as the bank for contempt.

They were accused of refusing to obey the order of the court, which had ordered them to pay an Ogoni community in Rivers State the sum of N122 billion bond guaranteed by the bank on behalf of Shell Petroleum Development Company Limited (SPDC).

The N122 billion bond is in respect of the judgment debt against SPDC in an oil spill suit instituted by Ejama community in Ogoniland, Rivers State.

Recent Posts

Witch Doctors Arrested For Attempting To ‘Bewitch’ President

Two men accused of being witch doctors have been arrested by Zambian Police for allegedly…

6 mins ago

Three OOU Students Die In Road Accident

A tragic road accident on Friday claimed the lives of three students of Olabisi Onabanjo…

10 mins ago

US Indicts Air Peace CEO, Allen Onyema For Obstruction Of Justice

The Chairman, CEO, and founder of Air Peace, Allen Onyema, has been charged with obstruction…

2 hours ago

Many Feared Dead In Abuja Stampede

At least 10 people have reportedly died, with many more injured in a stampede at…

4 hours ago

PH Refinery Fully Operational – NNPC

The Nigerian National Petroleum Company (NNPC) Limited says the old Port Harcourt refinery has not…

4 hours ago

Again, Scores Feared Dead As Rice Sharing Causes Stampede In Anambra

An unconfirmed number of residents of Okija community in Anambra state have reportedly lost their…

4 hours ago

This website uses cookies.