The Federal High Court in Lagos has fixed November 8, 2017 to hear a debt recovery suit filed against Stella Oduah, a former Minister of Aviation, by Sterling Bank Plc. The bank has accused Oduah and four companies linked to her of owing $16,412,819.06 and N100,493,225.59. The companies involved are Sea Petroleum and Gas Company Limited; Sea Shipping Agency Limited, Rotary Engineering Services Limited, and Tour Afrique Company Limited.
The bank, in an affidavit deposed to by one of its managers, Segun Akinsanya, averred that the debt came from a loan of $10,069,620.25 granted Sea Petroleum and Gas Company on October 8, 2012. He further said that the company also obtained other loans of $449,600.00, $642,954.00 and $350,000.