The Supreme Court will, today, continue its hearing on a case involving the Central Bank of Nigeria (CBN), Union Bank of Nigeria (UBN) and an oil and gas company – Petro Union Oil and Gas Company Limited (Petro Union), over an alleged £2.556 billion fraud attempt. Some court watchers have however expressed concern that the outcome of the case, which should be unambiguous, remains uncertain. xHowever, in its desperation to use the allegedly forged cheque to perpetrate the fraud on CBN and Union Bank, Petro Union in February 2012 instituted an action at a Federal High Court, Abuja in Suit No. FHC/ABJ/M/104/2012: PETRO UNION OIL & GAS CO. LTD .V. CENTRAL BANK OF NIGERIA AND ORS., seeking sundry reliefs against (1) CBN, (2) Union Bank, (3) Hon.

Source: The Guardian June 28, 2021 04:07 UTC