Description
The 1st Respondent is the facility agent for the loans granted by Access Bank Plc, African Export-Import Bank, Ecobank Nigeria Limited, First Bank of Nigeria Limited, First City Monument Bank Plc, Union Bank of Nigeria Plc, United Bank for Africa Plc and Zenith Bank Plc to the 3rd Respondent, within the framework of the banker-customer relationship subsisting between the lenders and the 3rd Respondent. The 2nd Respondent, on its part, is the global security agent for the said lenders. Access Bank Plc, First Bank of Nigeria Limited, Union Bank of Nigeria Plc, and Zenith Bank Plc, in separate bilateral transactions, extended banking facilities to the 3rd Respondent. Similarly, African Export-Import Bank, Ecobank Nigeria Limited, First City Monument Bank Plc, and United Bank for Africa Plc advanced facilities to the 3rd Respondent under a syndicated arrangement, albeit structured as bilateral transactions, in the cumulative sum of N244,776,613,049.69 and $586,977,502.59, with interest accruing thereon…
