The Latest News from Nigeria and Around the World
The Federal High Court sitting in Lagos has granted Union Bank Plc. an interim order of Injunction restraining Swift Networks Limited and its agents from accessing funds and assets in all banks pending the determination of a Motion on Notice in an alleged debt recovery suit.Justice Yellim Bogoro granted the order after listening to a motion exparte filed by counsel for Union Bank, Gbenga Akinde.
As at 30th day of June, 2023, the 1″ Defendant’s indebtedness to the Plaintiff stood at N7,037,410,548.23 while interest continues to accrue. This constituted a fresh contract which mandatorily created new obligations between parties and substituted and superseded all prior claims with a bid to amicably resolve the matter, but Swift Networks still deliberately refused to honour the agreement and the recent development according to Union Bank, has led to it instituting a fresh action to enforce the new Agreement between the parties.
The judge also directed all Banks/Financial Institutions harbouring the defendants’ accounts to depose on oath and furnish the plaintiff or its firm of solicitors, the details of the credit outstanding in the defendants’ account within 7 days of receipt of the order.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Court freezes Swift Networks,’ chief executive’s accounts over alleged debtThe Nation Newspaper Court freezes Swift Networks,’ chief executive’s accounts over alleged debt
Read more »
Lawmakers angry as Agip shuns summon over alleged N80m debtThe House of Representatives Committee on Public Petitions has once again summoned the management of Agip Oil Company over an alleged N80 million owed to a local contractor, De Coon Services Ltd.
Read more »
₦17.8b Debt: Court Gives GTBank Nod To Seize Assets Belonging To AfexThe Latest News from Nigeria and Around the World
Read more »
Alleged Cocaine Deal: Court rejects Abba Kyari, others’ fresh bail applicationLast month, the court granted Mr Kyari, who is standing trial from detention, temporary bail for two weeks to attend his mother's final burial rites.
Read more »
Alleged Contempt: EFCC wins case against Yahaya Bello at appeal courtEFCC's appeal against the Kogi State High Court ruling favouring former Governor Yahaya Bello succeeded on Thursday, paving the way for the EFCC to proceed with his trial.
Read more »
Court remands 2 over alleged cultismAn Ile-Ife Magistrates’ Court on Monday, remanded a 26-year-old man, Olayinka Abiodun and Ajayi Tobiloba, 28, over alleged cultism.
Read more »