Skye Bank Takes Over Obat Oil Premises

obat-oil

Skye Bank Plc on Friday afternoon took over the possession of the tank farms and business premises belonging to Obat Oil in Apapa area of Lagos State.

The company is owned by Oba Fredrick Obateru-Akinruntan, the Olugbo of Ugboland in Ondo State.

This latest development followed an October 28, 2016 ruling given by Justice Jude Dagat of a Federal High Court in Lagos over an outstanding debt to the Bank in excess of N1.5 billion by Obat Oil.