Access Bank Plc has said it will continue to furnish relevant regulatory authorities with updates on the status of its recovery actions. It was also determined will fulfil its obligation to its depositors and shareholders regarding the recovery of debts due from Patrick Ifeanyi Uba and Capital Oil and Gas Limited.
A statement made available to our correspondent on Tuesday said that the bank remained confident of the overwhelming success of the recovery actions it had initiated against Uba and Capital Oil and Gas Limited.
It said ,“For the avoidance of doubt, the bank confirms that the recovery actions it embarked upon against Dr Patrick Ifeanyi Ubah and Capital Oil and Gas have not been in any form or substance affected nor prejudiced by the proceedings or judgments of the Honourable Court.
“The honourable court in its considered judgment of Monday February 19, 2013 did not make any declaration nor grant any perpetual or interlocutory injunction against the bank in favour of the plaintiff or any other party in the proceedings.”
The bank said its attention had been drawn to news media reports and text messages purporting that a Federal High Court sitting in Lagos presided over by Justice Chukwujekwu Aneke on Monday February 19, 2013 gave judgment against Access Bank and three others in Suit No FHC/L/CS/07/13 involving Capital Oil and Gas Ltd and Patrick Ifeanyi Uba.
It said, “The massive SMS campaign has triggered enquiries from our stakeholders regarding the status of our ongoing debt recovery actions against Patrick Ifeanyi Uba and Capital Oil and Gas Limited.
“We deem it necessary to make the following clarifications to correct any unfortunate misinformation contained in the said reports.
“Access Bank Plc is not a party to the suit instituted by Uba and his company. The subject of the suit and reliefs sought therein are unconnected with the actions instituted by the bank for the recovery of the monies due to it from Uba and Capital Oil and Gas. The plaintiffs in the above suit did not seek any declaration, injunctive relief or damages against the bank.”