Bank

FIRSTBANK FILES APPEAL

-INJUNCTION AND STAY OF EXECUTIONC

-ARGO REMAINS UNDER ARREST

 

In a surprising twist of events, its decision delivered today, the Federal High Court in a surprising shift from the true nature of FirstBank ’s claim held that the matter is not a maritime claim but rather, a simple case of debt recovery. This is quite surprising considering the fact that the order sought is to prevent further fraudulent sale of crude on the FPSO.

 

Shockingly, the court also held that the Arrest Order against the cargo, because it was exparte in nature, expired by effluxion of time within 14 days of its issuance.

 

Aggrieved by the decision, FirstBank lodged an appeal against the decision of the FHC. Also, FirstBank filed an application for an injunction of the court against GHL, pending the determination of the appeal. The Cargoes of Crude Oil on the FPSO TAMARA TOKONI remain arrested.

 

While FirstBank has great respect for the courts, it strongly disagrees with the ruling, which, in our view, constitutes a miscarriage of justice.

 

FirstBank remains committed to protecting and securing the interest of its members and will relentlessly pursue justice against mischievous debtors seeking to use the machinery of the law to perpetuate mischief and evade their responsibility to offset outstanding obligations.

Sahara Weekly

Sahara weekly online is published by First Sahara weekly international. contact saharaweekly@yahoo.com

Recent Posts

SETTING THE RECORD STRAIGHT: CLARIFICATION ON THE RECENT NANS CONVENTION AND THE LEADERSHIP IT PRODUCED LED BY OLOSHOLA OLADOJA AS PRESIDENT OF NANS, NOT ATIKU ABUBAKAR ISAH

SETTING THE RECORD STRAIGHT: CLARIFICATION ON THE RECENT NANS CONVENTION AND THE LEADERSHIP IT PRODUCED…

9 minutes ago

Tension in Yaba LCDA Over Alleged Candidate Imposition by Presidency Aide

Tension in Yaba LCDA Over Alleged Candidate Imposition by Presidency Aide     - Stakeholders…

1 hour ago

Oluremi Tinubu and Aisha Achimugu: A Bond Forged in Compassion, by Olabode Opeseitan

Oluremi Tinubu and Aisha Achimugu: A Bond Forged in Compassion, by Olabode Opeseitan    …

2 hours ago

Can We Have More Bankers Like Victoria Mulero? An epitome of ‘omoluabi’

Can We Have More Bankers Like Victoria Mulero? An epitome of 'omoluabi' In February of…

6 hours ago

You’re a liar, apologise to seyi Tinubu within the next 24 hours or you will be arrested

  By Collins Nkwocha The prophet to the president of the federal Republic of Nigeria,…

16 hours ago

Air Peace Airlines’ failure to adhere to scheduled departure times results in prolonged delays …causing undue hardship for Nigerians on board

Air Peace Airlines' failure to adhere to scheduled departure times results in prolonged delays ...causing…

18 hours ago