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Afribank ex-chairman begins contempt proceedings against MD, Secretary

By Innocent Anaba
Lagos — Former chairman of Afribank Nigeria Plc, Chief Osa Osunde, has started contempt proceedings before a Federal High Court sitting in Lagos, against the Managing Director of the bank, Nebolisa Arah and the Company Secretary, Umar Dan Umma for allegedly disobeying orders of the court.

Justice James Tosho, it would be recalled, had restrained the Central Bank of Nigeria, CBN, and its governor, Mallam Sanusi Lamido Sanusi, from enforcing a purported letter announcing the removal of Osunde as chairman of Afribank.

Tosho also suspended the purported letter and held that Osunde should remain in office as a director and chairman of Afribank, pending the determination of an application for interlocutory injunction in the suit.

Osunde’s counsel, Mr  Onyebuchi Aniakor, in the contempt proceeding, is urging the court to commit Arah and Umma to prison for allegedly flouting the orders of the court by conveying a Board of Directors meeting without recourse to him as a director and chairman of the bank.

Aniakor further argued that it would be in the interest of justice for Arah and Umma to be committed to prison and remain there until they purge themselves of their contemptuous conduct, while hearing was adjourned till July 26.


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