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Investors protest over legal representation in Supreme Court

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Also, President of Nospecto Investors Forum, Prince Emmanuel Matiluko said that, the list Ontaru submitted in court was a fake list and that it was Badejo that engaged him for their selfish interest.

Shareholders of Nospecto Plc whose N23.7 billion funds were trapped in the Central Bank of Nigeria (CBN) have staged a protest to the Chambers of Debo Adeleke in Ogudu area of Lagos, affirming that they did not denounce him (Adeleke) as their lawyer.

Their protest was sequel to the Supreme Court orders in the case of 13,740 Nospecto investors whose N23.7 was trapped in the CBN that it was ready to expedite hearing if the chambers of Debo Adeleke and Rowland Ontaru (SAN) resolve the issue of legal representation.

They carried placards with inscriptions: “Barrister Adeleke Is Our Lawyer, Ontaru Keep Off,” “Adeleke is Still Our Lawyer,” “CBN Release Our Money, We Are Dying,” “Supreme Court Have Mercy On Us, And Give Us Our Money,” among others.

One of the investors, Blessing Owosanye told The Guardian that they have been in the struggle since November 2007 when the Securities and Exchange Commission (SEC) was directed to close Nospecto account on their behalf.

“It was affirmed at the Investment and Security Tribunal (IST) that the money belongs to us and in that respect, the CBN was asked to keep the money,” he added.

She however stated that up till this moment, they have not gotten judgment on the matter, adding, “We have gone to the Federal High Court and Appeal Court and they all ruled in our favour. We want to receive our money while we are alive. If we get the money, we will be able to start our own businesses and even employ others.

She specifically said over 13, 000 investors can start business their own businesses if the money was paid, noting that no fewer than 100 of their members have died in the course of pursuing the money while several others have been in the hospitals for the past three years.

Also, President of Nospecto Investors Forum, Prince Emmanuel Matiluko said that, the list Ontaru submitted in court was a fake list and that it was Badejo that engaged him for their selfish interest.

“They want to come into the matter because of the amount they heard we are going to collect but the judge doesn’t know,” he added.



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