The Federal High Court in Lagos on Wednesday convicted First Bank of Nigeria Limited; its chairman, Mrs. Ibukun Awosika; and managing director, Dr. Adesola Adeduntan, of contempt of court.
The court dismissed their preliminary objection to a contempt charge filed against them by the Ejama-Ebubu community in Eleme Local Government Area of Rivers State.
The court found them guilty of refusal of the bank to release N17bn and interests that First Bank allegedly guaranteed to pay the community on behalf of Shell Petroleum Development Company of Nigeria Limited.
The bond is in respect of the judgment debt against SPDC in an oil spill suit filed by the community.
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