Nigeria, Jan. 14 -- The management of First Bank of Nigeria Limited on Tuesday said media reports alleging that it abused court processes in the ongoing legal battles with General Hydrocarbons Limited are misleading and incorrect.

The bank said it performed its obligations under the loan agreements but trouble started when it demanded for good governance and transparency in the transaction, which GHL rejected.

"Consequently, it is incorrect to assert that FirstBank abused the process of the court," the bank said in a statement.

PREMIUM TIMES reported how the Federal High Court, Ikoyi, Lagos, granted an order restraining all commercial banks in Nigeria from releasing or dealing in all monies and assets up to $225.8 million due to Nduka ...