By  Abdulwahab Abdulah

EFFORTS by the Access Bank Plc, to enforce the London  Court’s  judgment against former managing director of Intercontinental Bank, Dr. Erastus Akingbola suffered a set back recently as a Lagos High Court sitting in Igbosere held  it lacked jurisdiction to entertain the matter.

The High Court of Justice, Queens Bench in London, had on August 1, 2012, ordered Akingbola to pay Access Bank the sum £654 million ( N212.2 billion) over alleged illegal purchased of shares when he held sway as the MD of the defunct Intercontinental bank.

In a bid to enforce the London Court judgment in Nigeria, the Access Bank had approached Justice A.A Oyebanji of the Lagos High Court with an ex-parte application, where it sought to register the foreign judgment and the accompanying order of Justice Michael Burton, dated September 13, 2012.

Justice Oyebanji had acceded to the request of Access Bank by registering the London judgment and ordered Akingbola to pay the judgment sum.However, not satisfied with the judgment, Akingbola filed a petition against the registration and the implementation of the judgment.

Justice Babajide Candide-Johnson, who presided over the  petition  in its ruling  held that the Lagos State High Court lacked the jurisdiction and competence to hear or determine any aspect of registration and enforcement proceedings in respect of the foreign judgment and accompanying enrollment order. His lawyer, Chief Wole Olanipekun (SAN), in the application dated September 27, 2013 asked the  Igbosere to quash the registration of the foreign judgment for lack of jurisdiction.