A Federal High Court in Lagos has issued a restraining order preventing the House of Representatives and its Chairman, Mike Etaba, from further inviting or investigating Sterling Bank Limited, pending the resolution of a motion for an interlocutory injunction.
The case involves Sterling Bank, its parent company, and several individuals suing the House of Representatives, claiming that the committee lacked the authority to summon private individuals or corporate bodies for investigation. The plaintiffs argue that the investigation, related to financial mismanagement and fraud allegations, violates the separation of powers.
The dispute stems from allegations by Maiden Systems Ltd, accusing Sterling Bank of fraudulent deductions and misappropriation of funds. The police have since indicted the bank for potential money laundering and financial misconduct. Despite these claims, the court has temporarily halted the investigation until the legal process is concluded.
The plaintiffs, represented by Femi and Funmi Falana (SAN), filed for the injunction, stating that further action by the House would undermine the judicial process. Meanwhile, Etaba has promised a thorough review of the case, ensuring justice is served.
