Ecobank’s Multibillion Naira Debt Suit Against Anchorage Leisures Adjourned Till January 31

The Federal High Court in Lagos will on January 31 resume hearing in a suit between Anchorage Leisures Ltd and two others and Ecobank Nigeria Ltd concerning a disputed multibillion naira debt allegedly owed the bank.

The court fixed the date following the unavailability of Justice Yelim Bogoro.

Justice Bogoro is away in Abuja for the ongoing annual judges conference.

The last hearing of the suit, marked FHC/L/CS/352/2023, held on October 26.

It will be recalled that Ecobank filed the bankruptcy action against businessman Oba Otudeko for his alleged inability to repay the loans availed his companies by Ecobank, which, according to the bank, he secured via his personal guarantee.

Otudeko’s firms –Honeywell Flour Mills Plc, Anchorage Leisures Limited and Siloam Global Services Limited– challenged their indebtedness to Ecobank by filing an action at the Federal High Court in Suit No. FHC/L/CS/1219/2015.

The said matter which went all the way to the Supreme Court was determined by the apex court on January 27, 2023 wherein the court held that Otudeko’s firms were indebted to Ecobank and that they were duty bound to repay all the facilities availed them by the bank, in line with the contract of the parties.