Unpaid debt: Court orders Shebah Coy, Chairman, Orjiako to pay 3 banks $144.2m

In an effort to ensure that judgments delivered by High Court of Justice Queen’s Bench division, a United Kingdom’s Court, upheld by Supreme Court of United Kingdom, ordering  Shebah Exploration & Production Company Limited, Allenne Limited and Dr. Ambrosie Bryant Chukwueloka Orjiako (defendants) to pay three banks the sum of $144.2 million being the outstanding and accrued interest of a facility granted to the defendants since 2011, the Lagos division of Federal High Court, has certified the judgment The three banks to benefit from the said UK’s court judgments are: African Export-Import Bank, Diamond Bank…

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CBN withdraws Skye Bank license

.. Establishes Polaris Bank to assume its assets, liabilities Central Bank of Nigeria, CBN has withdraw the banking license of Skye Bank Plc and established a new bank, Polaris Bank to take over its assets and liabilities. Speaking during a press briefing to announce the withdrawal of Skye Bank licence on Friday September 21, the CBN Governor, Mr. Godwin Emefiele stated that the result of its examinations and forensic audit of the bank has revealed that Skye bank requires urgent recapitalisation as it can no longer continue to live on…

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