Five staff of the Power Holding Company of Nigeria (PHCN) on Wednesday urged the Appeal Court in Lagos to halt their ejection from a PHCN property forfeited to the federal government by former Managing Director of Oceanic Bank, Mrs. Cecilia Ibru.
The workers, in a notice of appeal, faulted Justice Okechukwu Okeke of the Federal High Court in Lagos for refusing to vacate his earlier order granting leave to the Asset Management Corporation of Nigeria (AMCON) to take over the property.
Mrs. Ibru forfeited N191 billion worth of assets to the federal government as part of the plea-bargain arrangement following her conviction over corrupt practices in the bank.
AMCON had on March 6, 2013 forcefully ejected the PHCN workers from the property, which is located at 5A George Street, Ikoyi Lagos.
The PHCN workers, through their lawyer, Femi Falana (SAN), had urged Justice Okeke to vacate the order on the ground that it was obtained by AMCON through fraud and suppression of material fact.
Mr. Falana had contended that the said property allegedly acquired by Mrs. Ibru, was at all times, the property of PHCN and so, Mrs Ibru had no right to forfeit the property to the federal government.
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