Dr. Sakiru Oyefeso, Former MD STACO Insurance Plc
BY NKECHI NAECHE-ESEZOBOR–The management of STACO Insurance Plc has said that Dr. Sakiru Oyefeso still have a case to answer for allegations of misappropriation, diversion and conversion of company funds while in office as managing director of the company.
This is contained in a rejoinder made available to BusinessToday Online and signed by the company’s legal team, Tokunbor Orimobi LP.
According to the company the case put before the Court by STACO was purely on Bankruptcy, consequently, the said Judgment has not determined the indebtedness or otherwise of Dr. Oyefeso to Staco, thus the said judgement cannot be brandished as an evidence of Non-indebtedness of Dr. Sakiru Oyefeso to STACO.
It added that in this instance STACO Insurance has the opportunity to file a fresh action in compliance with the requirements of the law.
The rejoinder further said that contrary to the misconceptions that he has been cleared of bankruptcy allegation, Oyefeso has not been cleared of any wrong doing in connection with the allegations of misappropriation, diversion and conversion of company funds as these main issues have not been tried or adjudged, on merit.
It added that the company is still within it’s legal right to file a fresh action against Dr Sakiru Oyefeso, where he continues to neglect to repay what he owns to STACO.
BusinessToday Online had reported on August 7, 2021, that the Federal High court sitting in Lagos had cleared the former managing director/CEO of Staco Insurance Plc, Dr. Sakiru Oyefeso of bankruptcy allegation.
Staco Insurance Plc had earlier filled a petition against Oyefeso, praying that the court adjudge him bankrupt, and that all assets, interests and holdings, either held personally or through third parties and the privies be liquidation.
The rejoinder thus reads:
