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| Okumagba |
A Federal High Court in
Lagos has ordered BGL Plc to pay First Bank of Nigeria Limited the sum of
N1.407 billion.
Justice Mohammed Idris
while delivering judgment in a suit filed by BGL against First Bank, held that
on the balance of probabilities, the bank was entitled to judgment for the
credit facilities it advanced to the said BGL.
BGL Plc, BGL Securities
Limited and Albert Okumagba had jointly dragged the bank before the court
seeking the award of N167. 097 million against the bank for alleged breach of
contract in respect of a N2 billion margin loan.
