The Federal High Court in Lagos on Wednesday dismissed a suit filed by human rights lawyer, Femi Falana (SAN), challenging the sale of Polaris Bank.
Justice Lewis Allagoa dismissed the suit following an application filed by Falana, who was the plaintiff in the matter, seeking to discontinue the suit.
Falana had filed the suit marked HC/l/CS/87c/23 against the Central Bank of Nigeria and Polaris Bank Nigeria Ltd.
In his originating summons, he asked the court to determine “whether, by the provisions of Section 42(2) of the Banks and Other Financial Institutions Act 2020, and Public Procurement Act, 2007, the CBN could validly sell Polaris Bank for N50bn having earlier revitalised same for N1.3tn.”
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