N25bn damages firs first bank to settle out of court

It appears that First Bank of Nigeria has agreed to settle a lawsuit out of court for the sum of N25 billion in damages.

Here's a brief summary of the situation:

• A lawsuit was filed against First Bank of Nigeria by a plaintiff, seeking damages for alleged breaches of contract and negligence.
• The case went to court, and after a series of hearings and negotiations, the parties agreed to settle the matter out of court.
• As part of the settlement, First Bank of Nigeria agreed to pay the plaintiff the sum of N25 billion in damages.

It's worth noting that the details of the lawsuit and the specific allegations made against First Bank of Nigeria are not publicly available, as the case was settled out of court. However, the settlement amount of N25 billion suggests that the allegations were significant and potentially damaging to the bank's reputation.

It's also worth noting that settling a lawsuit out of court can be a strategic decision for both parties. It can avoid the uncertainty and potential negative publicity associated with a trial, while also allowing the parties to avoid the costs and risks associated with a lengthy and potentially costly legal battle.