Aggrieved former shareholders of the defunct Intercontinental Bank Plc, led by Abdullahi Sani, Adaeze Onwuegbusi and Chijioke Ezeikpe, have dragged the suspended Governor of the Central Bank of Nigeria, CBN, Sanusi Lamido Sanusi, before a Federal High Court sitting in Abuja over the sale of the bank to Access Bank Plc.Sued alongside Sanusi are the Security and Exchange Commission, SEC, and the Central Bank of Nigeria, CBN. The shareholders want the court to compel, direct and mandate the SEC, as the official and apex regulator of the Nigerian Capital Market acting under her powers pursuant to Section 13 of the Investments and Securities Act 2007, to conduct a detailed public investigation into the circumstances relating to and connected with the sale/acquisition/take over/ transfer of the shares, assets and securities of Intercontinental Bank Plc to Access Bank Plc, in order to protect shareholders and investors of Intercontinental Bank Plc and the maintain a fair and orderly securities exchange market so as to protect the integrity of the securities market against all forms of abuse as occasioned by the Sanusi and his friends/associates/cronies, and order appropriate sanctions against parties involved in Intercontinental Bank takeover fraud.
Showing posts with label SEC. Show all posts
Showing posts with label SEC. Show all posts
Wednesday, March 26, 2014
Shareholders of defunct Intercontinental Bank sue Sanusi
Aggrieved former shareholders of the defunct Intercontinental Bank Plc, led by Abdullahi Sani, Adaeze Onwuegbusi and Chijioke Ezeikpe, have dragged the suspended Governor of the Central Bank of Nigeria, CBN, Sanusi Lamido Sanusi, before a Federal High Court sitting in Abuja over the sale of the bank to Access Bank Plc.Sued alongside Sanusi are the Security and Exchange Commission, SEC, and the Central Bank of Nigeria, CBN. The shareholders want the court to compel, direct and mandate the SEC, as the official and apex regulator of the Nigerian Capital Market acting under her powers pursuant to Section 13 of the Investments and Securities Act 2007, to conduct a detailed public investigation into the circumstances relating to and connected with the sale/acquisition/take over/ transfer of the shares, assets and securities of Intercontinental Bank Plc to Access Bank Plc, in order to protect shareholders and investors of Intercontinental Bank Plc and the maintain a fair and orderly securities exchange market so as to protect the integrity of the securities market against all forms of abuse as occasioned by the Sanusi and his friends/associates/cronies, and order appropriate sanctions against parties involved in Intercontinental Bank takeover fraud.
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