Abike Dabiri, Diamond Bank opts for out of Court settlement in N500m suit

Abike Dabiri-Erewa, former member, House of Representatives, and Diamond Bank Thursday opted for out of court settlement in the suit brought by Dabiri-Erewa against the bank over alleged debt of N122 million, she was alleged to have owed the bank.

Abike Dabiri-Erewa

At the resumed hearing of the matter before Justice Abdulfattah‎ Lawal of a Lagos High Court, Igbosere the counsel representing the bank, Chuka Agbu, (SAN), informed the court of their move to settle the matter out of court.

He urged the court to adjourn the matter to enable them start the process of settlement.

However, Justice Lawal adjourned the matter to March 10, 2016, for report of settlement.

Dabiri-Erewa, had on August 6, 2015, filed a N500 million suit ‎against Diamond Bank for publishing her name among the list of chronic debtors, who had refused to liquidate their debts.

In a suit filed by her lawyer, Adetokunbo Mumuni, before a Lagos High Court, at Igbosere, she also listed the Punch Newspapers Limited as the second defendant.

The alleged malicious publication against Dabiri-Erewa was published by Punch through a paid advertorial and a news report.

The claimant averred that on August 4, 2015, as early as 6 a.m., she got a lot of phone calls, text messages and information on social media networks telling her about a report in the Punch newspaper of that day ‎with a report that her company, Thriller Endeavour, was indebted to Diamond Bank Ltd.

The report was on the front page of the paper, alleging that her company owed the bank N122 million.

‎Dabiri-Erewa said she was neither a subscriber to the memorandum and article of association of the said Thriller Endeavours nor a director of the company alleged to be owing Diamond Bank.

She accused Punch newspaper of engaging in mischief when it published her name on pages 1, 21 and 31 of its August 4, 2015 edition as the person whose company was indebted to Diamond Bank.

The claimant further averred that as a well-known politician, the said publication had subjected her to public opprobrium, ridicule and embarrassment of monumental proportions.

She had instituted the N500 million suit against the defendants jointly and severally as damages for the reputational injury she had suffered, and another declaration that the publication, “which has no foundation in truth,” had defamed and injured her character and made her to suffer reputational damage.

She wants N3 million to be paid as professional fees of her solicitors, and an order directing the defendants separately and jointly to render a public apology to her in respect of the false publication.