Sacked First Bank Chief Supreme Court re-instates

The Supreme Court last Saturday reinstated Bernard Longe as Managing Director/Chief Executive of the First Bank of Nigeria, more than eight years since he was relieved of the post.
George Oguntade, the presiding judge, said in his 28-page unanimous judgement, which was concurred by four other justices, that Mr. Longe's removal by the management of the bank was illegal, as it violated the provisions of section 266 (1) and (2) of the Companies and Allied Matters Act, (CAMA).
Mr. Longe was consequently granted five relieves sought as grounds of his appeal, including that the board of directors erred in its decision to hold a meeting where Mr. Longe was sacked without notifying him; and that any decisions taken at the meeting including any appointment to the office of Managing Director/CEO, was unlawful.