By Henry Ojelu
LAGOS—A Federal High Court sitting in Lagos has certified a judgment delivered by the High Court of Justice Queen’s Bench Division and upheld by the Supreme Court of the United Kingdom, directing Shebah Exploration and Production Company Ltd, Allenne Ltd and Dr. Ambrosie Bryant Chukwueloka Orjiako, Chairman of Seplat Petroleum to pay African Export-Import Bank, Diamond Bank Plc and Skye Bank Plc, the sum of $144.2 million being the outstanding and accrued interest of a facility granted to the defendants in 2011.
Certifying the UK court judgment, the Federal High Court ordered the defendants to comply with the judgment and denied the defendants permission to appeal it.
The three banks had dragged the defendants to the High Court of Justice Queen’s Bench Division in an effort to recover an outstanding of the facility loan granted to them.
The claimants…
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