By Bartholomew Madukwe

The Managing Director of Skye Bank Plc, Mr. Timothy Oguntayo, has escaped a bench warrant issued by a Lagos High Court, Ikeja, following his compliance to an order to release $2 million dollars belonging to one Hyde Aremu Adelakun, which was frozen by the Economic and Financial Crimes Commission, EFCC.

The court, presided over by Justice Lateef Babajide Lawal-Akapo, in a ruling delivered on December 4, 2015, had ordered the bank and EFCC to release the said money to Adelakun and his company (Tof Energy Co. Ltd), noting that he was legally and constitutionally innocent, having not been convicted by any court of law in Nigeria, with respect to any offence whatsoever or the purported offence and allegation to which the substantive matter related.

“The respondent grossly misled this honourable court in obtaining the Motion Exparte dated September 16, 2015, as she refused and/or failed to disclose to this honourable court that the same subject matter and parties had been pending before the Federal High Court, Ikoyi, Lagos,” Justice Lawal-Akapo ruled.

However, at the last proceeding, counsel to Skye Bank MD, Mr Olanrewaju Osinaike, told the court that they had complied with the order of the court.

Meanwhile, the matter, which was to come up yester-day, was stalled following the absence of the trial judge who accompanied the state’s Chief Judge, Justice Funmilayo Atilade, on a prison visit.