In what what appears as a shocking development, twenty commercial banks in Nigeria have been instructed by the Federal High Court, not to honour any withdrawal cheque from the richest man in Africa, Dangote.
The court gave the rulling yesterday in lagos, as Sani Dangote, who is a younger brother of Africa’s richest man, Aliko Dangote and his brand, The Dansa Foods Limited and Bulk Pack Services Limited are undergoing a law suit from Union Bank.
Trial judge, Justice Okon Abang said that the restraining order will be
in force from now till September 2014, the next hearing.The Judge requested all banks involved to file affidavits declaring the defendants statement of accounts he has with them.
Union bank had allegedly given Sani Dangote a loan of N5.2bn since September, 2008 but Dangote and his companies has allegedly refused to pay back.
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