Government had dragged the banks to court after it was discovered that the sum of seven hundred and ninety-three point two million US dollars hidden with them had not been moved to the TSA.
However, counsel to the government yesterday filed a notice of discontinuance of the case in line with Order Fifty, Rule Two of the Federal High Court Civil Procedure Rules of 2009.
The government counsel, Professor YEMI AKINSEYE-GEORGE reportedly told Justice CHUKA OBIOZOR of the Federal High Court that the move is in the public interest.
Following the development, Justice OBIOZOR adjourned the matter till tomorrow for ruling, since there was no objection by lawyers to the banks.
The defence lawyers merely insisted that the court should dismiss the suit and award cost in favour of their clients.
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