Alleged $16.4m debt: Judge’s absence stalls hearing of suit against Stella Oduah

The absence of Justice Ayokunle Faji of a Federal High Court in Lagos Tuesday stalled the hearing of a suit filed by Sterling Bank Plc against Senator Stella Oduah and her firm, Sea Petroleum and Gas Company Limited over alleged $16.4million and N100.5 million debts.

The judge had at the last adjourned date fixed Tuesday for the hearing of all pending applications in the suit. Hearing of the matter has now been fixed for June 29.

Another judge of the court, Justice Abdulaziz Anka, who had initially presided over the matter, had earlier restrained the Senator and her company from making any withdrawals from its account and those of three other companies in 21 banks.

The other firms involved in the matter are; Sea Shipping Agency Limited, Rotary Engineering Services Limited and Tour Afrique Company Limited. The order followed an affidavit deposed to by Sterling Bank’s business manager, Mr. Segun Akinsanya.

In its statement of claims, the bank said it granted a lease/Cabotage Vessel Finance Facility (CVFF) to Sea Petroleum and Gas to finance one unit 5,000 MT tanker vessel.

According to the bank, the loan was secured through an unconditional personal guarantee by Princess Oduah.