Federal Character
  • Home
  • News
  • Politics
  • Business & Finance
  • Entertainment
  • Sports
  • Tech
  • Relationship and Life
  • Fashion & Lifestyle
  • Food & Nutrition
  • Health
  • Opinion
No Result
View All Result
  • Home
  • News
  • Politics
  • Business & Finance
  • Entertainment
  • Sports
  • Tech
  • Relationship and Life
  • Fashion & Lifestyle
  • Food & Nutrition
  • Health
  • Opinion
No Result
View All Result
Federal Character
No Result
View All Result
Home News

First Bank Investors Loses Billions as Court Seals Headquarters and Seizes Properties Over Debt.

Somto NwanoluebySomto Nwanolue
August 8, 2022
in News
0
First Bank Investors Loses Billions as Court Seals Headquarters and Seizes Properties Over Debt.
Share on FacebookShare on TwitterShare on Whatsapp

During this previous week, First Bank investors lost about N1.79 billion in under five days of trading, coupled with the FCT High Court Enforcement Unit in Abuja, closing down the operation of First Bank over a debt.

The officials besieged the headquarters on Friday to seize properties of the lender. A court official had said: “it is a long story, but it is all about a garnishee order against the bank which it didn’t comply with”.

According to the National News Agency, -NAN, the lender didn’t obey the court order, hence court officials visited First Bank headquarters in Abuja with towing vans to seize properties like stand-by generators and Hilux vans. Air conditioners, amongst other valuables, were likewise carted away from First Bank, to make up for the undisclosed debt, with workers of the commercial bank alluding that the situation was embarrassing.

The FCT High Court Enforcement Unit shutting down the bank’s building based on a garnishee order obtained by a judgment creditor, to whom the commercial bank owes money, caused panic among workers in the firm.

There was also panic on the exchange floor during the week, as a sell-off among stakeholders sent First Bank’s share down by approximately -0.45%, to close Friday’s trading at N10.95kobo, below N11.

This led to investors in the firm losing -0.45% of their investment, which marks a loss of N1.79 billion after five days of trading, knocking down First Bank’s market valuation to N393.05 billion, from N394.8 billion.

Tags: BillionscourtDebtFirst BankHeadquartersinvestorslosesPropertiesSealsSeizes
Somto Nwanolue

Somto Nwanolue

Somto Nwanolue is a news writer with a keen eye for spotting trending news and crafting engaging stories. Her interests includes beauty, lifestyle and fashion. Her life’s passion is to bring information to the right audience in written medium

Related Posts

A New Kind of Threat? Murder-Suicide at Ukrainian Station Raises Alarms
News

A New Kind of Threat? Murder-Suicide at Ukrainian Station Raises Alarms

October 24, 2025
After Louvre Heist, Thieves Hit Another French Museum
News

After Louvre Heist, Thieves Hit Another French Museum

October 23, 2025
US Troops on Standby In Anticioation of Massive, Coordinated Anti-Trump Protests
News

US Troops on Standby In Anticipation of Massive, Coordinated Anti-Trump Protests

October 18, 2025
Next Post
Nigerians Drag Youtuber Jackie Aina as She Names Scented Candle ‘Sòrò Sókè’

Nigerians Drag Youtuber Jackie Aina as She Names Scented Candle 'Sòrò Sókè'

BBNaijaS7: Beauty Breaks up with Groovy, Fights with Phyna after Saturday Night Party

BBNaijaS7: Beauty Breaks up with Groovy, Fights with Phyna after Saturday Night Party

Agbonlahor: Arsenal will Make it to Top four in the EPL

Agbonlahor: Arsenal will Make it to Top four in the EPL

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Evacuations as Serbia and Bosnia Struggle with Severe Flooding

Evacuations as Serbia and Bosnia Struggle with Severe Flooding

2 years ago
Malaysia’s Youth Party Exits Ruling Coalition Amid Corruption Concerns

Malaysia’s Youth Party Exits Ruling Coalition Amid Corruption Concerns

2 years ago
Vee Talks Transactional Relationships Amid Burna Boy-Sophia Drama

Vee Talks Transactional Relationships Amid Burna Boy-Sophia Drama

8 months ago
Build the Life You Deserve with Emotional Stability

Build the Life You Deserve with Emotional Stability

2 years ago

Categories

  • Beauty
  • Business & Finance
  • Entertainment
  • Fashion & Lifestyle
  • Food & Nutrition
  • Government
  • Health
  • News
  • Politics
  • Relationship and Life
  • Sports
  • Tech

Topics

2023 Aboki/Bureau De Change (BDC) apc Arsenal buhari Business cbn chelsea china court Davido Dollar Efcc Election Entertainment Euro and Pounds To Naira Exchange Rate For Today exchange rates for the Nigerian Naira (NGN) Fashion federal character federal government Finance food Football Foreign News government health inec Israel lagos Manchester United Naira Naira Black Market exchange rates News Nigeria pdp police Politics president protest Russia Sports tinubu trump ukraine US
No Result
View All Result

Highlights

The Pop Culture Costumes Dominating Halloween 2025: From ‘Wicked’ Glamour to ‘KPop Demon Hunter’ Edge  

Putin’s Man in America: Dmitriev Meets Trump Allies Amid Sanctions

Maryland Issued Double Payment To Workers

NATO’s Rutte Taunts Kremlin: ‘Putin Is Out of Moves’

Driverless Cars May Kill Us All

Can Manchester United Make It Three Wins in a Row Under Ruben Amorim?

Trending

Williams Uchemba Makes Bold Demand on How to End Kidnapping in Nigeria
Entertainment

Williams Uchemba Makes Bold Demand on How to End Kidnapping in Nigeria

byAyobami Owolabi
October 25, 2025
0

Nollywood actor Williams Uchemba has called on the Nigerian government to introduce public executions for convicted kidnappers,...

Yemi Alade Uncovers the Truth That Left Her Mentally Broken

Yemi Alade Uncovers the Truth That Left Her Mentally Broken

October 25, 2025
October Onslaught: Naira Free-Falls as Dollar, Euro, Pound Tighten the Noose

October Onslaught: Naira Free-Falls as Dollar, Euro, Pound Tighten the Noose

October 25, 2025
The Pop Culture Costumes Dominating Halloween 2025: From 'Wicked' Glamour to 'KPop Demon Hunter' Edge

The Pop Culture Costumes Dominating Halloween 2025: From ‘Wicked’ Glamour to ‘KPop Demon Hunter’ Edge  

October 24, 2025
Putin’s Man in America: Dmitriev Meets Trump Allies Amid Sanctions

Putin’s Man in America: Dmitriev Meets Trump Allies Amid Sanctions

October 24, 2025

We launched Federal Character in February 2021 based on the belief that the world is in need of smarter and more efficient reporting of events shaping our rapidly changing world. We pledged to put our audience first, always.

Recent News

  • Williams Uchemba Makes Bold Demand on How to End Kidnapping in Nigeria
  • Yemi Alade Uncovers the Truth That Left Her Mentally Broken
  • October Onslaught: Naira Free-Falls as Dollar, Euro, Pound Tighten the Noose

Categories

  • Beauty
  • Business & Finance
  • Entertainment
  • Fashion & Lifestyle
  • Food & Nutrition
  • Government
  • Health
  • News
  • Politics
  • Relationship and Life
  • Sports
  • Tech

© 2024 FederalCharacter.com

No Result
View All Result
  • Home
  • News
  • Politics
  • Business & Finance
  • Entertainment
  • Sports
  • Tech
  • Relationship and Life
  • Fashion & Lifestyle
  • Food & Nutrition
  • Health
  • Opinion

© 2024 Federalcharacter.com