Eleme Petrochemical Co-operative: CSOs Warn First Bank PlC Against Disobeying Court Order


By; AMOS TAUNA, Kaduna

The Civil Society Organizations (CSOs) in Defence For Justice based in Abuja have caution First Bank Plc to respect court order.
The convener of the group, Comrade Adah Sam, made this call in Abuja saying that it is seriously worrisome that a bank such as first bank PlC will be used as a tool to victimise innocent Nigerians of their legitimate earnings.
He explained, “It is on notice that some powerful individual through proxy have deployed every means possible to transfer the shares of this innocent Nigerians to the people of their interest.
“It is also on record that the federal high court have settled the matter of who owns what in the co-operative and that judgement has remained unchallenged , no Appeal anywhere against the judgement.
“It is also on record how the EFCC was introduced into the matter claiming a fraud was committed in the acquisition process of the shares after the high court had already decided on the same matter.
“The EFCC secured a court judgement placing a restraining order on the co-operative account and the bank obeyed same.
“It is also on record that after the court discovered the deciet of the EFCC leading it to placing the temporarily restraining order , Vacated the same order , and First Bank has reluctantly refused to honour same.
“One will wonder whose interest is First Bank serving?, Why will first refuse to honour a court order from the same court that directed it initially to restrain the account.
“The action of First Bank after several letters writing by the lawyer of the co-operative simply shows this isn’t about law anymore ,but purely victimization and possibly these same powerful Nigerians have exchange hands of friendship with the managers of First Bank PlC.”
For the interest of Justice, First Bank PLC should do the needful or get ready to face an action from our group. He said
Recall that in February  26,2009 the federal government through the National Council on  Privatization had approved the sale of 10% of its equity shares in Indorama Eleme Petrochemicals ltd, Port Harcourt ,Rivers State to the host community and interested staff of Indorama Eleme Petrochemicals ltd.
The 10% equity shares was shared as 7.5% was allotted to the host community while the remaining 2.5% was allotted to the Staff of Indoroma Eleme Petrochemicals.
Interested Staff came together under Eleme petrochemical co-operatives in compliance to the federal government directive that a special purpose vehicle be formed where all members will belong to enable them buy the shares.


Please enter your comment!
Please enter your name here