The Supreme Court has lowered Fidelity Bank’s liability in Sagecom’s loan dispute after years of tort dispute with Sagecom.
The bank is in talks with Sagecom to hammer out a repayment plan, but the urgency stipulated in the ruling could hamper its ability to spread out the liability without going under.
The apex court ruled that the judgement of the appellate court which set aside the decision of the high court should not be tampered with.
In a unanimous judgement, a five-man panel of justices dismissed an appeal by another governorship aspirant, Ibrahim Gusau.
Justices Emmanuel Agim and Adamu Jauro, two other judges on the five-member panel, dissented from the majority ruling.
In a unanimous judgment delivered by Justice Adamu Jauro, the court struck out the suit on the grounds that it lacked jurisdiction to entertain the suit.
The Abuja High Court had earlier ruled recognising Dan Nwafor as the state party chairman.
