Virgin Nigeria Sued by Guaranty Trust Bank

Virgin-NigeriaVirgin Nigeria a sponsor of many fashion and entertainment events in Nigeria announced earlier this month its plans to list on the Nigerian Stock Exchange (NSE) after according to it, “branding and rebranding.” Its efforts on rebranding and listing on the NSE might however be delayed with the current law suit filed against it by Guaranty Trust Bank.

The suit filed in Nigeria’s Federal High Court, Lagos alleges breach of contract claims for outstanding debts of approximately $9.2million (N1.3 billion).

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Founded in 2007, Ladybrille® Magazine is a California based pioneer digital publication demystifying the image of Africans in the west through contemporary African fashion and celebrating the brilliant woman in business and leadership, with an emphasis on the African woman in the diaspora. Our coverage includes stories on capital, access to markets, expertise, hiring and retention, sales, marketing, and promotions.

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