Shareholders of Afribank Plc have contested the decision of a Lagos court which granted a request by the Nigerian Deposit Insurance Corporation (NDIC) to liquidate the bank.
The shareholders are; Igbrude Moses Oke, Rasak Olalekan Mumuni, Akinsanya Solomon Sunday, Suleiman Dauda Babatunde and Igba Sanmi Olatomide.
In the notice of appeal filed at the weekend by their counsel, Onyebuchi Aniakor ,the shareholders said the decision of the lower court was a miscarriage of justice
They said the presiding judge of the lower court dismissed a preliminary objection they filed to the winding up petition even without entertaining their objection.
According to them, the winding up order was made by Justice Archibong when the matter was slated for mention and not hearing, adding that by so doing, the judge had committed grave miscarriage of justice.
In the appeal, the shareholders are praying for an order setting aside the striking out of the preliminary objection, and an orderdirecting that the objection should be heard by another judge of the Federal High court on merit.
In the preliminary objection, which the shareholders filed as a party in the winding up petition, they said they told the court was pointed to the judge that there was already a suit pending before Justice John Tsoho challenging the take-over of Afribank by shareholders of the bank.
Justice Charles Archibong of the Federal High Court in Lagos had last week closed down Afribank on the ground that it was no longer necessary for the bank to continue to exist since the Central Bank of Nigeria (CBN) had revoked the operating license of the bank and gazetted it.
By a notice dated August 8, 2011 and published as Government Notice No 140, in the official gazette of the Federal Government
No.63 Volume 98, the CBN governor, Lamido Sanusi revoked the operating licenses of Afribank Nigeria Plc, Bank PHB and Spring Bank Plc.
Further to the revocation, the NDIC, acting pursuant to Section 40 of the NDIC Act of 2006, filed winding up petitions dated November 22, 2011 to wind up the three banks, a request that was granted by Justice Archibong on July 2, 2012.
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