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United Bank For Africa Sues Energy Firm, Polaris Bank Over N2.8 Billion


The court adjourned till July 13, for hearing of the motion on notice.
by SaharaReporters, New York
Jul 08, 2021
A Federal High Court sitting in Lagos has restrained Integrated Energy Distribution and Marketing Company Ltd and Polaris Bank from tampering, howsoever, with funds standing to their credit up to $6,759,000 (about N2.8 billion) or its equivalent in any currency in 25 banks, the Debt Management Office and Federal Ministry of Finance.
Justice Daniel Osiaigor, who made the interim order of Mareva Injunction, held that it subsists pending the hearing and determination of a motion on notice filed against the duo by the United Bank for Africa (UBA). ....

Temilolu Adamolekun , Justice Daniel Osiaigor , Anike Isinguzo , Gbenga Akinde Peters , Titan Trust Bank , Polaris Bank , Union Bank Plc , Bank Nigeria Ltd , Keystone Bank Ltd , Unity Bank Plc , Yola Electricity Distribution Company Disco , Access Bank Plc , Zenith Bank Plc , Power Holding Company Of Nigeria , Keystone Bank , Skye Bank Plc , Suntrust Bank Nigeria , Globus Bank , Fidelity Bank Plc , First City Monument Bank Ltd , Providus Bank , Citibank Nigeria Ltd , Enterprise Bank Ltd , Access Bank , Yola Electricity Distribution Companies , Debt Management Office ,