A federal high court sitting in Lagos has adopted terms of settlement between him and the Asset Management Corporation of Nigeria .
It, among others, claimed that Yusuf owed about N176,586,487.86 and accrued interest as of 2018, a claim the retired Customs officer denied, blaming the alleged debt on the negligence of the bank’s officials. He added that since the loan was not disbursed to him after he applied to purchase shares, the failure of the bank to sell the purchased shares to recover its loan when the need arose, amounted to negligence on its part.
Justice Saliu Saidu of the Federal High Court later adopted the terms of settlement as the court’s judgment in the suit marked: FHC/L/CS/787/2018.
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