Firms Slam N7Bn Suit on FCMB over Alleged Breach of Contract

Sunlek Investment Limited and Sunsteel Industries Limited, two limited liability companies, have slammed a N7billion suit on First City Monument Bank (FCMB) Plc over alleged breach of contract.

In a 126 -paragraph of statement of claim accompanied by 27 paragraphs of a witness’ sworn oath and filed before a Federal high court sitting in Lagos south west Nigeria by Mr. John Olusegun Odubela SAN, Lagos lawyer, the two companies alleged that they operated loan accounts with First City Monument Bank. It was from there disbursement was made for all letters of credit /loan facility granted to them by the bank for the importation of raw materials.

However since 23rd May, 2013 when the bank entered into an agreement to grant the loan, and open a loan facility account for them till date, they have not been given the particulars of the loan facility account neither has any statement of account of this loan account been made available to them.

http://worldtopnewsng.com/firms-slam-n7bn-suit-on-fcmb-over-alleged-breach-of-contract/