The National Industrial Court sitting in Lagos, has ordered Oceanic Bank to pay N1,086,611,589.11 to 1,742 ex-staff, who were denied thier entitlements by the banks. Justice Rabiu Gwandu gave the order while delivering judgment in suit Number NIC/LA /231/2012 filed by 1,742 ex-employees of defunct Oceanic Bank, which merged with Ecobank Bank Limited sometimes in 2012. In the representative suits …

Ogun State Government has commended Ecobank for projecting the Adire fabric as an international brand through its annual ‘Adire Lagos Experience’. Commissioner for Culture and Tourism, Ogun State, Hon. Sesan Fagbayi, gave the commendation while addressing the media at the opening day of the 3rd edition of Ecobank ‘Adire Lagos Experience’ exhibition at the ultra-modern Ecobank Pan African Centre (EPAC). According to …

Ecobank Transnational Incorporated (ETI) has repaid its $500 million five-year Eurobond, which was due today, 18th April. The bank stated this in a corporate filing with the Nigerian Exchange Limited, as obtained by  NEWSMEN on Thursday. ETI’s Group Chief Financial Officer, Mr. Ayo Adepoju said the bond represented ETI’s first Eurobond issuance in April 2019, noting that the repayment serves …

Justice Liman of a Federal High Court sitting in Lagos has ordered Ecobank Nigeria to pay N72.2 billion in damages to Honeywell Flour Mills Plc. In delivering judgement on Honeywell Flour Mills’s protracted suit against Ecobank Nigeria, the judge held that: “The plaintiff’s right to the damages sought had crystallised and the plaintiff had a right to maintain this action”, …

Ecobank has urged FBNHoldings to reject the acquisition of 4.7 billion shares by a former Chairman of the FBNHoldings, Dr. Oba Otudeko. The bank raised the alarm in a letter by its Legal Counsel, Kunle Ogunba & Associates, in which it stated that the business magnate, through his affiliated entities, owed the bank N13.5 billion. The letter, dated 7th July …

Ecobank Nigeria Limited won a N5.5 billion debt dispute at the Supreme Court on Friday against Honeywell Flour Mills Limited and its sister firms, Anchorage Leisures Limited and Siloam Global Limited. The Supreme Court dismissed Honeywell’s appeal challenging the Court of Appeal judgment, which was in favour of Ecobank. The five-member panel of the Supreme Court, led by Justice Tijjani …