L
LequteMan
Guest
Nigeria- It looks like CBN and AMCON will have to pay aggrieved Bank PHB shareholders the N58bn they are demanding as damages from the unjustified way the bank's sale to Keystone bank was handled. Daily Independent has the story:
The preliminary objections filed by the Central Bank of Nigeria (CBN), the Asset Management Corporation of Nigeria (AMCON) and others against a suit by some shareholders of the defunct Bank PHB have all been dismissed by a Federal High Court in Lago
Justice Mohammed Yunusa assumed jurisdiction in the suit in which the plaintiffs are challenging the alleged illegal transfer of their shares to Keystone Bank without compensation.
The plaintiffs are demanding N38.6billion from the defendants being “fair compensation” to them for the value of their investment in Bank PHB Plc.
They are also praying for an order setting aside the alleged unlawful nationalisation, compulsory acquisition and expropriation of their investments in Bank PHB, and are seeking N20billion as damages for the loss of value of their investments in Bank PHB.
click here to read more
#Nigeria #PHB #CBN #AMCON
The preliminary objections filed by the Central Bank of Nigeria (CBN), the Asset Management Corporation of Nigeria (AMCON) and others against a suit by some shareholders of the defunct Bank PHB have all been dismissed by a Federal High Court in Lago
Justice Mohammed Yunusa assumed jurisdiction in the suit in which the plaintiffs are challenging the alleged illegal transfer of their shares to Keystone Bank without compensation.
The plaintiffs are demanding N38.6billion from the defendants being “fair compensation” to them for the value of their investment in Bank PHB Plc.
They are also praying for an order setting aside the alleged unlawful nationalisation, compulsory acquisition and expropriation of their investments in Bank PHB, and are seeking N20billion as damages for the loss of value of their investments in Bank PHB.
click here to read more
#Nigeria #PHB #CBN #AMCON
