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Lawsuit against Winners' Chapel founder adjourned till March 25

Bishop Oyedepo represented in court by Chioma Okwuanyi, said the losses recorded by the investment was due to the plaintiffs’ recklessness with the margin loan purportedly obtained by the plaintiffs

A suit accusing founder of Winners' Chapel, David Oyedepo of breach of contract has been adjourned by a Federal High Court sitting in Lagos till March 25, 2015.

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In the suit instituted by a stock brokerage firm, Valueline Securities and Investment Limited and its Managing Director, Samuel Enyinnaya the plaintiffs are claiming about N1.86billion from Oyedepo, his family, his book publishing company and the Winners’ Chapel for allegedly breaching agreement on a N9billion investment entrusted to them.

Joined as co-defendants is the Nigerian Stock Exchange, which the plaintiffs accused of being biased in its investigations into the N9billion business dispute.

Reports say the plaintiffs are also urging the court to declare as illegal the freezing of their bank accounts by Nigeria Stock Exchange and to make an order to immediately unfreeze their accounts.

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Bishop Oyedepo represented in court by Chioma Okwuanyi, drew the attention of the court to his client’s preliminary objection to the stockbroker’s claims.

Oyedepo’s lawyer said that the losses recorded by the investment was due to the plaintiffs’ recklessness with the margin loan purportedly obtained by the plaintiffs.

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