Union Bank Nigeria Drags Dangote's Brother To Court Over N5 Billion Loan

Sani Dangote, younger brother of the richest black man, Aliko Dangote, has been dragged before Justice Okon Abang of a Federal High Court, sitting in Ikoyi, Lagos, over his alleged failure to liquidate about N5 billion loan he allegedly got from Union Bank Nigeria Plc.

According to Daily Newswatch, the bank, in two separate suits against Sani and his companies – Dansa Foods Limited and Bulk Pack Services Limited – wants the judge to issue an injunction restraining all commercial banks in Nigeria from allowing Sani and his companies to withdraw funds from their accounts pending the determination of the suits.

Union Bank, in its suits, insisted that in a bid to evade payment of the loan, Sani has been making frantic efforts to deplete the funds in the accounts of his companies, and that investigation had revealed that the defendants had started diverting the funds to Dubai in United Arab Emirates (UAE), Canada and Switzerland.

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