Jibril Aku of Ecobank May Go To Jail

Ecobank has been accused by
Honeywell Flour Mills Plc of disobeying
an earlier directive by Justice
Mohammed Idris that all parties should
maintain status quo and therefore has
initiated contempt proceedings against
Ecobank Nigeria Limited for which
Jibril Aku, Ecobank MD, may go to Jail.
Honeywell, yesterday, floored
Ecobank before Justice Idris of the
Federal High Court Lagos. “The
plaintiffs’ claim arose from a
banker-customer relationship, as
such this court has jurisdiction to
entertain the matter,” the judge said.
He held that Ecobank’s preliminary
objection lacked merit and awarded
N10,000 cost in the plaintiffs’
favour. Justice Idris adjourned to
Monday for hearing of the contempt
proceedings.
Ecobank had challenged the court’s
jurisdiction to hear the suit filed by
Honeywell and its sister companies –
Anchorage Leisures Limited and
Siloam Global Services Limited.
Dismissing the preliminary
objection, Justice Idris held that a
cursory glance at the statement of
claim shows that the plaintiffs’ claim
arose from banking transactions.
This, he said, places the suit within
the court’s jurisdiction as provided
in Section 251 (1)(d) of the 1999
Constitution.
In a related case before Justice Okon
Abang of the same court, Ecobank
had, on October 16, filed a motion
exparte, praying for an orders
restraining Siloam Global Services
Limited and chairman of Honeywell
Group, Dr. Oba Otudeko, from
operating or dealing with funds in
any bank or financial institution
pending the determination of the
motion on notice for the
appointment of a provisional
liquidator or interim receiver. The
bank also sought an order directing
and compelling all the banks and
financial institutions in which
Siloam Global Services and Otudeko
have accounts, to furnish Ecobank
with their details.
It also prayed the court to
restraining Siloam Global Services
and Otudeko from removing its
funds, investments in all banks and
financial institutions or alienating/
disposing their fixed and moveable
assets within Nigeria. Justice Abang,
however, did not grant the prayers.
Rather, he directed Ecobank to put
Siloam Global Services and Otudeko
on notice.
Meanwhile, Otudeko’s lawyer, Chief
Wole Olanipekun (SAN), filed a
December 7 motion on notice
praying the court to strike out the
petition and discontinue proceedings
in deference to arbitration.
Yesterday, Olanipekun argued that
the court lacks jurisdiction to
adjudicate on the matter.
Ecobank’s counsel, Mr. Kunle
Ogunba (SAN), argued that the court
ought to determine Ecobank’s
exparte application of October 16
first. But Olanipekun argued that his
clients had given valid reasons to
compel the court to determine the
challenge to its jurisdiction before
determining the bank’s motion
exparte.