First Bank financier of new Tejuosho market—DEFENDANT

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By Onuzure Dania

A Federal High Court sitting in Lagos has been told that First Bank Plc is the sole financier of the new Tejuosho ultra-modern market in Lagos.

A defendant and Lagos State Government-appointed developer of the market, Stormberg Engineering Company, made the assertion, while arguing an application to stay further proceeding in the suit by Access Bank Plc.

Counsel to Stormberg Plc, Vincent Nwana, while moving the application, contended that the denial of First Bank, the sole financier of the project and Stormberg hearing granting Access Bank’s counsel the receivership of the market had occasioned gross injustice to his client.

The case is before Justice Okon Abang.
The matter has been adjourned to May 19 for further hearing.

Nwana had argued that the grounds of appeal in the matter were grounds of law which required no leave as provided under Section 241 (1) of the Constitution, adding that one of the grounds of his client’s appeal at the Appeal Court, Lagos was the refusal to admit a vital document, which is the forensic audit report of Stormberg’s account domiciled with the plaintiff/respondent.

 

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