Court to hear CBN, BankPHB’s objections on Utomi’s suit on Jan 29

According to him, the action expresses that no effect was given to the order of the court at least by observing that where processes have been served status quo should be maintained.

 

Trial Judge, Justice Tijani Abubakar, who inquired if there was a proof of service to the respondents, however noted with disdain the absence of some of the respondents especially the newspapers in court.

But the CBN’s counsel told the court that the plaintiff should file the proper process and should not address the court through the bar, if he has noted any disobedience to the order of the court.

The counsel also informed the court of its pending preliminary objection challenging the jurisdiction of the court to entertain the suit, he asked for date for the hearing of the application

Also Bank PHB and its managing director informed the court of its preliminary objection challenging the locus standi of the plaintiff to institute the suit.

At this stage, Justice Abubakar adjourned till, January 29, 2010 for hearing of the pending preliminary objections.

In the suit, which also had the Managing Director and Chief Executive Officer of Bank PHB, Mr. Cyril Chukwuma; the Punch Nigeria Limited; The Guardian Newspapers Limited and Leaders and Company Limited (Publishers of ThisDay Newspapers), Prof. Utomi, prayed for a declaration that the CBN directive of October 26, 2009 to Bank PHB to publish its un-audited account without first seeking approval of the Board is unlawful, illegal and wrongful.

He also asked for an order restraining the defendants, their servants, agents or privies from giving effect to the CBN directive of October 26, 2009.

Utomi further ask the order of court restraining the defendants, their servants, agents or privies from giving effect to the CBN directive of October 26, 2009 contrary to the provisions of the Articles of Association of Bank PHB and the Companies and Allied Matters Act, 2004.



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