Aquitane Oil & Gas Ltd. has filed a lawsuit against Zenith Bank, accusing the lender of forgery, unauthorized asset sales, and diverting ₦1.4 billion in dividends. The allegations involve the illegal sale of pledged shares, manipulated bank statements, and withheld dividends, with Zenith Bank allegedly colluding with Veritas Registrars and Quantum Zenith Securities.
The dispute centers on FinBank shares worth ₦1.8 billion, which Aquitane claims were sold without permission despite regular loan repayments. A forensic audit uncovered evidence of data manipulation and fraudulent transactions, raising serious concerns about the bank’s practices.
This case could have wide-reaching consequences for Zenith Bank and Nigeria’s banking sector, sparking calls for increased transparency and stronger financial oversight.
