Some aggrieved shareholders of the defunct Intercontinental Bank have sued the suspended governor of Central Bank of Nigeria (CBN), Malam Sanusi Lamido Sanusi and two others over alleged illegal sales and take-over of the bank by Access Bank.
Also joined in the suit filed before a Federal High Court sitting in Abuja are the CBN and Securities and Exchange Commission (SEC) as second and third defendants respectively.
The plaintiffs, Abdullahi Sani, Adaeze Onwuegbusi and Chijioke Ezeikpe, through their counsel, Chris Uche (SAN) are demanding for the sum of N10 billion as special and general damages against Sanusi for the breaches culminating in the wrongful takeover of Intercontinental Bank Plc by Access Bank.
They also want the court to order CBN to immediately recover the sum of N25.1 Billion together with interest accrues still being owed by the trio of Mr. Aig-Aigboje Imokhuede, Mr. Herbert Wigwe and Senator Bukola Saraki.
When the matter came up yesterday, Uche, counsel to the plaintiff, prayed the court for leave to serve Sanusi through a substituted means on ground that his present place of abode after his suspension is not known.
In a short ruling, the trial judge, Justice Ahmed Mohammed granted the plaintiffs prayer and ordered that the court process be served on Sanusi through his last office address at the CBN.
He later adjourned till May 14 for hearing.
The aggrieved shareholders in their Originating Summons prayed for an order of the court that the takeover of Intercontinental Bank by Access Bank on the scheme, direction and instruction of Sanusi without lawful justification whatsoever is null and void.
They argued that Sanusi took the action in a bid to confer corrupt advantage upon himself and his friends/associaties/cronies to the investment detriment of the plaintiffs and infringement of their personal rights.
The plaintiffs also want the court to mandate SEC as the official and apex regulator of the Nigerian Capital Market acting under her power pursuant to Section 13 of the Investments and Securities Act 2007 to conduct detailed public investigation into the circumstances relating to and connected with the sales of the shares, assets and securities of Intercontinental Bank to Access Bank.
Copyright: Fresh Angle International (www.freshangleng.com)
ISSN 2354 - 4104
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