Curated News
By: NewsRamp Editorial Staff
January 21, 2025

Ecobank Faces $68 Million Legal Claim for Defamation and Coercion in Nigeria

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Source News Release

TLDR

  • ECOBANK faces a $68 million legal claim over allegations of coercion and defamation.
  • Legal action is taken against Jeremy Awori, ETISRC, ENG, and Oladele Alabi for coercion and defamation in Nigeria.
  • Wilben Trade and Marcus Wade seek justice against ETISRC's damaging allegations to protect their reputation.
  • International legal action is pursued to address Ecobank's abusive tactics and repair the damage caused by baseless complaints.

Impact - Why it Matters

This news matters as it sheds light on alleged misconduct by Ecobank and the pursuit of justice by Wilben Trade, impacting the reputation and financial well-being of the involved parties. The legal claim underscores the importance of holding institutions accountable for their actions and seeking redress for damages caused by unfounded allegations.

Summary

A $68 million legal claim has been filed against Jeremy Awori, CEO of Ecobank Transnational Inc (ETI), Ecobank Nigeria, and others, alleging defamation, abusive proceedings, and coercion in Nigeria. The claim stems from attempts to coerce Wilben Trade into making undue payments after suffering a loss in 2015, causing reputational and financial harm.

In 2015, Ecobank Nigeria faced losses from transactions with existing customers, leading to focus on Wilben Trade despite its limited involvement. ETISRC escalated actions in 2022, alleging improper payments and fraud against Wilben Trade, which denies the accusations as baseless.

Legal action highlights Wilben Trade's commitment to protecting its reputation and seeking redress, with international legal action being pursued against Ecobank for alleged abusive tactics.

Source Statement

This curated news summary relied on this press release disributed by News Direct. Read the source press release here, Ecobank Faces $68 Million Legal Claim for Defamation and Coercion in Nigeria

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