The management of Sahara Group has denied reports that the oil firm is ‘indebted to, nor did it borrow any money from United Bank for Africa PLC in any loan transaction’ just as its said that ‘the entire Sahara Group will vigorously pursue and defend UBA’s petition to its logical conclusion with a view to dismissing the petition.
The oil firm further said that its lawyers have been duly instructed and have taken all necessary steps to ensure that the order is discharged or set aside as soon as practicable. ‘4. UBA, on 12th March 2019 sued New Electricity Distribution Company Limited and SERL along with two other institutions, First Trustees Limited and Ecobank Capital Limited in Suit No. FHC/L/CS/382/2019, by way of Originating Summons, claiming certain declarations and injunctions to which SERL has filed full and comprehensive response.Federal High Court in Lagos on 30th May 2019.
‘8. Our lawyers have been duly instructed and have taken all necessary steps to ensure that the order is discharged or set aside as soon as practicable.
Source: Energy Industry News (energyindustrynews.net)
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