Court to Rule on Contempt Suit Against Skye Bank

A Federal High Court sitting in Ikoyi, Lagos, has set aside today, as the day to decide whether or not to begin hearing into the committal to prison proceeding, initiated against three principal officers of Skye Bank PLC, over alleged disobedience to court orders. The principal officers are: The Chairman, Dr Olatunde Ayeni, the Group Managing Director/Chief Executive Officer, Timothy Oguntayo, and the Company Secretary, Mrs Abimbola Izu. It would be recalled that the contempt proceeding should have commenced last year, but Skye Bank instituted an application for proceeding to be stayed, pending the outcome of an appeal it filed in the Court of Appeal.