The trio of the former directors; Bola Jaiyeola, the former General Manager, Business Development, Rasak Adeniyi Badmus, former Executive Director of Finance and James Kayode Adenigba, the former Managing Director/Chief Executive Officer of Lagos Airports Hotel, all filed their suits after negotiations continue to yield no results.
The case was scheduled for mention before the court on Thursday but when the matter was called, counsel to Oodua Investment Limited, A.N. Mpere had informed the court that they were just briefed on the matter and had filed their Memorandum of Appearance and had paid the default fees because they are already out of time and had not filed their defense in the case of Jaiyeola and Badmus.
Mpere also informed the court that in the matter of Adenigba, due to some errors on their part, they had been unable to file a Memorandum of Appearance in the suit but promised to rectify this and asked for a short adjournment.
Counsel to the claimants, Oreofe Akinsooto and Olabisi Ibironke had earlier informed the court that they had not been served with the Memorandum of Appearance and the court had adjourned the matter for the defence to file all its processes.
Jaiyeola in his suit delineated NICN/IB/11/2018 stated in his statements of fact before the court that he was paid a portion of his final entitlements after his retirement in June 2014 and is claiming the outstanding payment of his final entitlement.
He asked for a court declaration that for not having paid his entitlement less 20 percent rebate and at once as agreed, he is entitled to the full balance of N4, 268, 697. 89, the cost of the action, the cost of the action, N400, 000for solicitor’s fees for the litigation that he described as needless and 20 percent per annum interest on the balance of N4, 268, 697.89 from July 2014, a month after he retired and 10 percent from the day of court judgment till the whole sum is paid.
Badmus in his suit delineated NICN/IB/12/2018 is asking for a court declaration that he is entitled to the sum of N26, 245,267.40 as the balance of his entitlement which a portion of it had been paid at less 20 percent rebate.
He also asked for the cost of a million naira as his solicitor’s professional fees and 20 percent interest on the said balance of N26, 245,267.40 AND 10 percent interest of the money from the day of judgment till final payment.
Adenigba in his own suit delineated NICN/IB/13/2018, is asking for a court declaration that he is entitled to the balance of his final entitlements at the cost of N19, 575, 069.77, the sum of N7, 958,505.29 being his portion of the accrued interest on gratuity in the total sum of N75, 038,827.70 as shown in the group staff gratuity payable as at July 31, 2014.
He further asked for the sum of a million naira as professional fees and 20 percent per annum interest on the sum claimed from October 2015 is the end of the third quarter of the year and 10 percent interest of the money from the day of court judgment till final payment.
and then