The bank, in two separate suits against
The bank, in the suits, alleged that in a bid to evade payment of the loan, Dangote has been making frantic efforts to deplete the funds in the accounts of his companies, and that investigation had revealed that the defendants had started diverting the funds to
According to two separate affidavits in support of the suits deposed to by one
According to Ayoola,
The bank stated that the funds which Dangote and his companies failed to pay were capable of going a long way in impacting positively on the nation's economy.
According to the processes, the bank in
The breakdown of the loan was given as follows; N500 million overdraft, N500 million advert loan,
Ayoola recalled that when the defendants could not fulfil the promise of paying back the credit facilities from time to time, the bank approved the restructuring of the loan, but that despite that development,
The loan was later reduced to N3.477 billion, but that despite repeated demands, the defendants failed to liquidate the debt.
Bulk Pack, on the other hand, as at date, is indebted to the bank to the tune of N745.145 million.
Meanwhile, trial judge, Justice
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