The Lagos State High Court, sitting at Tafawa Balewa Square, has referred the loan dispute between Dandis Global Resources Limited and the Bank of Industry (BOI) to mediation for possible settlement.
Dandis Global instituted the action against BOI, alleging failure to disburse loan facilities earlier approved for the establishment of its chicken processing plant in Ibadan.
At the resumed hearing, Justice Elizabeth Alakija directed that the matter be sent to mediation after both parties indicated willingness to explore an out‑of‑court resolution. The case was adjourned to 18 February 2026 for a report on settlement and further proceedings.
In its Statement of Claim, Dandis Global averred that it applied for a ₦75 million loan in 2018.
The company alleged that BOI delayed processing for several years before eventually approving reduced sums in 2022 and 2023:
– ₦30.3 million term loan
– ₦15.6 million working capital facility
Despite payment of required fees and repeated disbursement requests for equipment (including a cold room, blast freezer, feed mill, and generator), the claimant contends that BOI failed to release any part of the approved credit.
Dandis further stated that it had already imported machinery in anticipation of the loan, but inflation and recent fiscal policies had escalated costs, worsening its financial strain. The company maintains that BOI’s alleged refusal to disburse funds amounts to a fundamental breach of contract, preventing commencement of operations at its agro‑processing plant.
The claimant seeks, among other remedies:
– A declaration that BOI breached the 2023 Loan Agreement by failing to disburse the facilities.
– ₦225 million in general damages.
– ₦100 million in aggravated and exemplary damages.
Claimant’s Counsel, Jide Bodede, informed the court that his client was open to amicable resolution and requested referral to mediation: “Our humble request this morning is for the matter to be referred to mediation. We believe the parties can explore settlement. If not, we will return to court for trial.”
Defendant’s Counsel, E.O. Okunade, confirmed that BOI did not oppose the request and was equally interested in expedited reconciliation: “We are not opposed to exploring mediation to expedite the reconciliation of this matter.”
Consequently, Justice Alakija subsequently directed that the matter be sent to mediation and adjourned the case to February 18, 2026, for a report on settlement and further proceedings.
