N824m Debt: Ex-Deputy Gov’s Son Loses Bid To Stop Arrest


The son of former Deputy Governor of old Ondo State, Mr. Akinwole Omoboriowo, and Kojo  Annan, and son of former Secretary General of the United Nations, Kofi Annan, who are the  Directors of two limited liability companies in Lagos, South West Nigeria, have failed in  their bid to stop the police from arresting them or declaring them wanted over a bank  debt.

The presiding judge of Federal High Court, Lagos, Justice Okon Abang, did not only refuse  to grant their request to stop their arrest, but also ordered their two companies,  Petroleum Projects International Ltd. and Alliance Energy Nigeria Ltd., to pay the sum of  N824,723,542.32 to Union Bank Plc, being the sum of money they admitted they were owing  and less N10 million they later paid.

The ruling of the court was sequel to an affidavit filed by the two companies, Petroleum  Projects International Ltd., Alliance Energy Nigeria Ltd. and their two Directors  Akinwole Omoboriowo and Kojo Annan, urging the court to restrain the Commissioner of  Police in charge of Special Fraud Unit, SFU, from arresting them or declaring them wanted  following the allegation of fraudulent diversion of funds made by Union Bank to the  police as a result of a dispute arising from a purely civil and commercial transaction.

The plaintiffs contended that if the respondents are not restrained, their arrest would  breach their fundamental right to liberty. But the respondent urged the court for  accelerated hearing of the substantive case because granting the application of the  plaintiffs would leave the court with nothing to determine at the hearing of the suit.  They therefore urged the court to enter judgement against the plaintiffs in the sum of  N824,723,542.32 admitted by them in their statement of claim less N10 million paid by  them.

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In his ruling, after listening to the submission of the two parties, Justice Abang  entered judgement in favour of Union Bank and specifically against the two companies in  the sum of N824,723,542.32 which has been admitted less N10 million with ten percent  interest until final liquidation.

The suit has been adjourned till 6 October, 2010 for the hearing of the substantive suit.

—Akin Kuponiyi

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