Last week, IvoryNG had reported how First Bank of Nigeria sued Common Wealth Consortium and Agbara Estates Ltd at a Federal High Court Lagos over
This is contained in a Motion on Notice in Suit FHC/L/CS//2022. First Bank, Commonwealth Consortium and Agbara Estates (both in Receivership) are the 1st to third plaintiffs in the suit filed by the applicants lawyer, Mr. Balogun.The defendants who are former directors include; Mr. Kayode Ayeni, Mrs. Kikelomo Ayeni, former Ecobank Director Mr. Kolapo Lawson, Mr. Paulo Cruz, Mr. Tunji Lawson and Babatunde Akindele.
The motion claimed that in a bid to avoid repayment of depositors’ funds trapped in their custody, the 1st and 2nd defendants are dissipating their assets, which are personal in nature and taking steps to move all other moveable assets outside the jurisdiction of the court.
One of those who is directly affected by the suit is Kolapo Lawson. The prominent Nigerian is not only a director in one of the companies in the First Bank suit, he is the chairman of Agbara Estates, the second company in the suit.