The court adjourned till July 13, for hearing of the motion on notice.
by SaharaReporters, New York
Jul 08, 2021
A Federal High Court sitting in Lagos has restrained Integrated Energy Distribution and Marketing Company Ltd and Polaris Bank from tampering, howsoever, with funds standing to their credit up to $6,759,000 (about N2.8 billion) or its equivalent in any currency in 25 banks, the Debt Management Office and Federal Ministry of Finance.
Justice Daniel Osiaigor, who made the interim order of Mareva Injunction, held that it subsists pending the hearing and determination of a motion on notice filed against the duo by the United Bank for Africa (UBA).
United Bank For Africa Sues Energy Firm, Polaris Bank Over N2 8 Trillion
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NIFAN elects JAIZ Bank MD, Hassan Usman, pioneer president
Mr Usman was inaugurated alongside other six EXCO members to steer the affairs of the umbrella body of all corporate organisations offering non-interest financial and related services.
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The Non-Interest Financial Institutions Association of Nigeria (NIFIAN), on Friday in Abuja elected the Managing Director of
Mr Usman was inaugurated alongside other six EXCO members to steer the affairs of the umbrella body of all corporate organisations offering non-interest financial and related services in the country for a first term of 2 years.
Those elected include Hajara Adeola, Managing Director/CEO, Lotus Capital Limited as Vice-President; Norfadelizan Abdulrahman, Managing Director/CEO of TAJBank Limited as Treasurer; and Fatai Ola Bakare, of SunTrust Bank Nigeria Limited as the Secretary-General.
The management of SunTrust Bank Limited, at the weekend, held its annual general meeting, which offered shareholders an opportunity to review its operations for the year ended December 31, 2019.
It was a year in which, according to the Managing Director and Chief Executive, Halima Buba, the bank contributed to the growth of the nation’s economy through effective funding of the real sector as demonstrated in the significant growth in its loan book.
This, according to her, “can only be done through effective funding of the real sector. As you can see, we increased our loans and advances by 185.41% from N8.4bn to N23.96bn.”
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Ag. Company Secretary, Sun Trust Bank,Mayokun Awolola(left); Managing Director/ Chief Executive Officer, Sun Trust Bank, Hajiya Halima Buba, Chairman, Sun Trust Bank, Olanrewaju Shittu, Non -Executive Director, Sun Trust Bank, Barr. Charles Musa, Executive Director, Sun Trust Bank, Umar Dan- Umma, at the Sun Trust Bank Nigeria Limited, 2019 Annual General Meeting, on the 19th December 2020
In its commitment to growing the small and medium scale enterprises (SMEs), SunTrust Bank gave out N23.96 billion as loans and advances to the sector in 2019.
The information was contained in the bank’s annual report made available to The Guardian at the weekend. The Chairman, Olanrewaju Shittu, while addressing the shareholders at the bank’s fourth annual general meeting (AGM), held in Lagos, said despite the challenges of the year under review, the bank was still able to increase its balance sheet by 24.61 per cent from N43.97 billion to N54.79 billion.
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