Nigeria News

Alleged breach of agreement: Customers owe us N700m, bank tells court

Aba—Mainstreet Bank Limited has told an Abia State High Court sitting in Aba that some of its customers and shareholders, who had sued it for breach of agreement, were indebted to it to the tune of N697.9 million.
Meanwhile, the claimants, in the substantive suit are arguing that they are not owing the bank in any way, contending that they had paid N50m on 10/7/07, another N120m on 10/12/07. They contended further that it was the bank that was owing them N144m and N10m being accrued dividends as at May 2008.
The claimants are also praying the court to restrain the bank from publishing them as debtors with non-performing loan, in addition to N900 million as damages for breach of contract arising from failure of the defendants to sell 20 million units of their shares on or before 17/9/09.
Claimants are Singe Obi Cons. Co. Ltd, Julius Ben Cons. Co. Ltd, Inroll International Ltd, Obi Chinonso, Obi Stanley Ifeanyichukwu, Obi Obi Maryann Onyinyechi, Okafor Obiageli Florence, Obi Ifeanyichukwu Sylvester, Obi Celestina Orjiugo, Obi Ifeoma Glory, Obi Innocent Okafor, Obi Innocent, Afunanya Ifeoma Glory, Afunanya Uchenna, Afunanya Franklin, Afunanya Chidera, Afunanya Onyekachi, Rosent Investment Ltd, Obi Celestina, Obi Onyinyechi, Obi George and Obi Emmanuel.

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