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One of Nigeria Prominent Business Magnates and Group Chairman of First Bank Plc ; Mr Femì Otedola , has allegedly dragged Zenith Bank Plc and Jim Ovia, Chairman of Zenith Bank to the Federal High Court Lagos, not only for illegal and unauthorized charges in its account, but also for the illegally and forcefully recovering his shares in Zenith Bank.
In the suit No : FHC/L/Cs/425/24 dated 6th March , 2024, where Zenith Bank, Quantum Zenith Securities, Veritas Registrars and Central Securities Clearing System are joined as defendants, Otedola is seeking the court’s relief to make the following orders: An order directing Zenith Bank plc to refund the sum of N205,346,573 which was wrongfully debited on 27th January 2011 from the account of Zenon Petroleum Limited account 1010385211 plus accrued interest.
An order directing Zenith Bank limited to release, return, and credit to Zenon Petroleum limited forthwith their of Zenith Bank shares totalling (1,300,000,000) One billion , three hundred million shares being shares illegally stolen from Zenon in 2011.