Counsel’s absence stalls N6.76m case against Access Bank

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(Nigeria) The absence of a respondent's counsel on Tuesday stalled hearing in a N6.76 million case instituted against Access Bank Plc at the Investment and Securities Tribunal, Abuja, over alleged illegal withholding of shares. The Presiding Chairman of the tribunal, Hon. Sanda Yelwa, said the bank’s counsel had sent a letter to the tribunal seeking permission to be absent due to poor health.
Mr Emmanuel Effiong, a civil servant, had sued the bank for allegedly detaining his N761,688 being the balance of his N1.2 million shares purchased from the bank’s public offer in 2007.
The appellant’s Counsel, Mr A. Wilfred, urged the tribunal to order the bank to pay his client N5 million for special damage on his investment.
He prayed the tribunal to direct the bank to pay his client N1 million being the cost of retaining legal services and 25 per cent interest on the detained amount, as well as N761 688, the principal.
Wilfred also urged the tribunal to disregard the letter of the first respondent counsel as it amounted to mere wasting of the tribunal’s precious time.
He argued that the first respondent had a good number of lawyers in its office and should be able to send one to represent it for the case to proceed.
The appellant’s counsel stressed that the application for adjournment by the bank was just a ploy to delay the case unnecessarily.
In his ruling, Presiding chairman Yelwa said the first respondent counsel application was backed by a medical report and thus would be honoured by the tribunal.
``In view of the letter for adjournment written by the counsel of the first respondent, the case is adjourned to May 27 for hearing,'' Yelwa said.

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