Close Menu
MarketForces AfricaMarketForces Africa
    What's Hot

    Yield on FGN Bonds Climbs 77bps as Investors Trim Holdings

    June 29, 2026

    T+1 Settlement Tightens Risk Window — EBC Flags Danger After SEC Stops Dangote IPO Promotion

    June 29, 2026

    Oil Prices Rise on Tit-for-Tat US, Iranian Strikes

    June 29, 2026
    Facebook X (Twitter) Instagram
    Trending
    • Yield on FGN Bonds Climbs 77bps as Investors Trim Holdings
    • T+1 Settlement Tightens Risk Window — EBC Flags Danger After SEC Stops Dangote IPO Promotion
    • Oil Prices Rise on Tit-for-Tat US, Iranian Strikes
    • XRP Target Price Shifts as Ripple Eyes $16trn Payments Volume
    • CBN Mops Up N4.8trn from Two High-Ticket OMO Bills Auctions
    • Dangote Cement Opens at 19% Discount to 52-Week High
    • FirstHoldco Surges by10% as Investors Buy the Dip
    • Zenith Bank Rallies as Investors Chase Upside Potential
    • Home
    • About Us
    Facebook X (Twitter) Instagram LinkedIn WhatsApp TikTok Telegram
    MarketForces AfricaMarketForces Africa
    Subscribe
    Monday, June 29
    • Home
    • News
    • Analysis
    • Economy
    • Mobile Banking
    • Entrepreneurship
    MarketForces AfricaMarketForces Africa
    MarketForces Africa » MarketForces News » Court Adjourns N4bn Suit against First Bank Plc till Jan 16

    Court Adjourns N4bn Suit against First Bank Plc till Jan 16

    Marketforces AfricaBy Marketforces AfricaNovember 22, 2023 News No Comments3 Mins Read
    An Enugu State High Court presided over by Justice Chukwunweike Ogbuabor on Tuesday adjourned a N4 billion lawsuit against First Bank of Nigeria Plc to Jan. 16, 2024, for hearing.
    Share
    Facebook Twitter LinkedIn Pinterest Email Tumblr Reddit Telegram WhatsApp Copy Link

    Court Adjourns N4bn Suit against First Bank Plc till Jan 16

    An Enugu State High Court presided over by Justice Chukwunweike Ogbuabor on Tuesday adjourned a N4 billion lawsuit against First Bank of Nigeria Plc to Jan. 16, 2024, for hearing.

    The suit was instituted by a Non-Governmental Organisation (NGO), called Incorporated Trustees of International Vocational Centre (IVC) and Dr Pedro Manuwa.

    The adjournment by Ogbuabor followed the absence of defence counsel, Chris Aghanwa in court.

    When the matter was called up, Maximus Ugwuoke the Counsel to the Plaintiffs informed the Court that they were ready for the hearing but counsel to the defendant, O.C Njoku who held brief for Aghanwa told the court that Aghanwa had an emergency.

    He said he had an appointment with his doctor and as a result was not able to appear in court and sought for adjournment.

    The defendant’s counsel, who was not happy with the development, told the court that stalling the case by the defendant had brought more cost to the Plaintiff who flew into the country from the United Arab Emirates purposely for the proceedings.

    He, however, requested for a cost against the defendant but Ogbuabor in a ruling, said since today was the first time the case was coming up after the court returned from its national assignment and resumed sitting, he would oblige the defendant with the adjournment sought.

    He, therefore, adjourned the matter till Jan. 16, 2024, for a hearing.

    The plaintiff’s former counsel, Mr Chikadibia Anosike, in the statement of claim, said that they had in the last five years maintained two accounts with the defendant to wit: 2027073629 (Current Account) and 3091251391 (Savings Account) with the name International Vocational Centre.

    They averred that on Feb. 4, 2019, it issued a First Bank cheque to several beneficiaries of their education fund but the defendant negligently paid one of the beneficiaries N150,000 as against N15,000.

    “There have been incidences of negligence by the defendant in handling the plaintiff’s account which had led to several losses, ridicule and untold hardship on the plaintiffs.

    “On account of the said over-payment, some of the cheques issued to those beneficiaries were returned unpaid. Some person(s) colluded with the defendant and have opened account number 3141684991 with the name International Vocational Centre, Niger State chapter,” he said.

    The claimants alleged that such person(s) had been demanding and receiving money from the public and prospective beneficiaries of the scholarship funds, thereby, tarnishing their image.

    The lawyer said that the plaintiffs had made complaints to the defendant’s Enugu Branch, demanding for the closure of the said account but every complaint fell on deaf ears.

    “Many prospective students have been duped because of the said illegal account and the plaintiff’s image has been ridiculed and brought into disrepute globally by the reason of the action,” the plaintiffs claimed.

    They also averred that they had continued to lose funds for its developmental projects in Nigeria as their donors had started to withdraw their sponsorship on the wrong perception that the plaintiffs had become a dubious entity.

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Marketforces Africa
    • Website
    • Facebook
    • X (Twitter)
    • Instagram
    • LinkedIn

    MarketForces Africa, a Financial News Media Platform for Strategic Opinions about Economic Policies, Strategy & Corporate Analysis from today's Leading Professionals, Equity Analysts, Research Experts, Industrialists and, Entrepreneurs on the Risk and Opportunities Surrounding Industry Shaping Businesses and Ideas.

    Keep Reading

    Yield on FGN Bonds Climbs 77bps as Investors Trim Holdings

    T+1 Settlement Tightens Risk Window — EBC Flags Danger After SEC Stops Dangote IPO Promotion

    Oil Prices Rise on Tit-for-Tat US, Iranian Strikes

    XRP Target Price Shifts as Ripple Eyes $16trn Payments Volume

    CBN Mops Up N4.8trn from Two High-Ticket OMO Bills Auctions

    Dangote Cement Opens at 19% Discount to 52-Week High

    Add A Comment

    Comments are closed.

    Editors Picks

    Yield on FGN Bonds Climbs 77bps as Investors Trim Holdings

    June 29, 2026

    T+1 Settlement Tightens Risk Window — EBC Flags Danger After SEC Stops Dangote IPO Promotion

    June 29, 2026

    Oil Prices Rise on Tit-for-Tat US, Iranian Strikes

    June 29, 2026

    XRP Target Price Shifts as Ripple Eyes $16trn Payments Volume

    June 29, 2026

    CBN Mops Up N4.8trn from Two High-Ticket OMO Bills Auctions

    June 29, 2026
    Latest Posts

    Yield on FGN Bonds Climbs 77bps as Investors Trim Holdings

    June 29, 2026

    T+1 Settlement Tightens Risk Window — EBC Flags Danger After SEC Stops Dangote IPO Promotion

    June 29, 2026

    Oil Prices Rise on Tit-for-Tat US, Iranian Strikes

    June 29, 2026

    XRP Target Price Shifts as Ripple Eyes $16trn Payments Volume

    June 29, 2026

    CBN Mops Up N4.8trn from Two High-Ticket OMO Bills Auctions

    June 29, 2026

    Subscribe to News

    Get the latest sports news from Dmarketforces Africa about finance, business and tech.

    Advertisement
    Facebook X (Twitter) Pinterest Vimeo WhatsApp TikTok Instagram

    News

    • World
    • Politics
    • Economy
    • Business
    • Opinions
    • Fintech
    • Science & Technology

    Company

    • About us
    • Advertising
    • Classified Ads
    • Contact Info
    • Editorial Policy

    Services

    • Subscriptions
    • Research
    • Due Diligence
    • Newsletters
    • Sponsored News
    • Work With Us

    Subscribe to Updates

    Subscribe to updates from MarketForces Africa, an independent financial news service provider.

    © 2026 MarketForces Africa. All rights reserved.
    • Privacy Policy
    • Terms
    • Accessibility

    Type above and press Enter to search. Press Esc to cancel.