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SHOCKER: Depositors’ Money In Grave Danger, Skye Bank Insinuates

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Industry experts and depositor of Skye Bank Plc have expressed shock and dismay over a statement by the financial institution insinuating that depositors’ money with it might be in grave danger.

In an affidavit sworn to by the head projects and structure finance unit of Skye Bank Plc, Muyiwa Obilanade against one of the bank’s customers, an estate management company, Senkay Nigeria Limited and its Directors, Mr Mofoluso Ayeni and Mrs Grace Ayeni, the financial institution urged a Federal High Court judge, Professor George Azuka Obiozor to give a  final judgment in its favour against the company and its promoters over a loan debt put at N9,903,790,738.98.

According to the affidavit deposed to by  the bank, “any delay in giving the judgment would occasion grave injustice to the bank as the money owed the bank by the company and its promoters  were depositors’ funds which the bank was obligated to pay as and when due to its depositors.”

Trouble between Senkay Nigeria Limited and Skye Bank Plc started after the former was granted N4.5 billion credit facilities in three tranches for the development of a 15-storey high rising office complex known as Kanti Towers on 1,300 square meter of land at 35c Adetokunbo Ademola Street Victoria Island Lagos State.

The loan facilities were secured by personal guarantees of Senkay’s promoters Mofoluso Ayeni and Grace Ayeni and a deed of legal mortgage executed by Senkay Company in favour of the bank over Kanti Towers at an  interest rate of 19% per annum repayable over a period of 84 months.

On November 23, 2016, the bank asked the company to repay the outstanding amount which then stood at N9, 450, 273, 176. 63, but Senkay Nigerian Limited could not.

Efforts to sell off Kanti Towers so that the proceeds of the sale would be used to settle the facilities failed, as it could not be sold.

In a bid to get back its money, Skye Bank Plc, sought redress in court.

 

 

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