A Review of the Nigerian Energy Industry

Diamond Bank sues Sunny Odogwu over N26bn debt

Dr Sunny Iwedidike Odogwu.
Dr Sunny Iwedidike Odogwu.

10 February 2015, Lagos — A Federal High Court in Lagos yesterday, fixed March 18, 2015 for hearing on a suit filed by Diamond Bank against businessman, Sunny Odogwu and his companies over alleged non-payment of a N26.229 billion debt.

Justice Saliu Seidu had earlier ordered 19 commercial banks in Nigeria not to allow Odogwu and his companies – Robert Dyson & Diet Limited and SIO Properties Limited, to withdraw funds from their accounts.

The order followed an order sought by the bank over an alleged refusal by Odogwu and his companies to offset the loan of N26.2 bn obtained from the bank.

But Justice Seidu yesterday discharged the 13th garnishee in the injunction due to the fact that the defendants were not maintaining any account with the bank.

Joined as co-defendants in the debt recovery suit were Corporate Affairs Commission, (CAC), The Registrar of Title, Federal Land Registry, and Leadway Trustees Limited, as fourth, fifth and sixth defendants respectively.
*Mohammed Shosanya – Daily Independent

In this article

Join the Conversation