• Skye Bank takes over Obat Oil depot over N2.1b debt

    Skye Bank takes over Obat Oil depot over N2.1b debt

    A Federal High Court in Lagos has given Skye Bank Plc the legal backing to take over Obat Oil and Petroleum Ltd’s depot over an alleged N2.1 billion debt.

    Justice Jude Dagat asked the Inspector-General of Police, the Assistant Inspector-General of Police to assist in the enforcement of the order.

    The order followed an Originating Motion by the bank seeking the enforcement of an arbitral award dated Aug. 7, 2015.

    Skye Bank had sought to recover a debt of N2. 1billion owed it […]