FINBANK VS AQUITANE

Ori Adeyemo

Finbank and Aquitane have taken their battle over excess bank charges to the court of law. Aquitane which conducted a private placement last year was reported to have had some of its transactions funded by Finbank especially as the oil company endeavoured to look good in the public space during its private placement exercise.

Months after the conclusion of the private placement, Finbank informed the management of Aquitane of the need to pay the sum of N7billion being debt owed to the bank. Aquitane, we were informed took issue with the bank. It invited a forensic accountant, Ori Adeyemo, to audit its transactions with Finbank. At the end of the review and auditing, Aquitane demanded a claim of N2.5billion being refund of excess charges to Aquitane.

The two parties wait patiently for the court to adjudicate on the matter.