A Federal High Court in Lagos has scheduled October 21, 2024, for the hearing of pending applications in a lawsuit filed by Barbican Capital Limited against First Bank of Nigeria Holdings Plc over a dispute concerning N5.4 billion worth of shares.
At the latest hearing, Ecobank Nigeria sought to join the case, claiming that the funds Barbican used to purchase shares were linked to Honeywell Group’s alleged efforts to avoid paying debts to the bank, following a Supreme Court ruling.
The Central Bank of Nigeria, already a party in the case, filed its defense slightly out of time, and the court granted its request to regularize its filings.
The court will first address Ecobank’s application to join the suit and a separate request for the presiding judge’s recusal before proceeding with the case.
(Punch)