Court Directs Banks to Unfreeze Firms’ Accounts, Awards N300m Damages 

Wale Igbintade 

Justice M. A. Savage of the Lagos State High Court has ordered four commercial banks to immediately unfreeze the accounts belonging to Energen Oil and Gas Limited, and Applause Global Services Nig, Ltd.

The court also restrained the banks  either by themselves, any of its officers or privies however so called from placing a lien, restriction and /or post no debit on any of the applicants’ accounts domiciled with any of the banks without any lawful justification. 

The banks are, Globus Bank Ltd, Zenith Bank Plc, and Access Bank Plc.

Specifically, in a notice of consequences of disobedience to order of court (Form 48), the court states “Take notice that unless you purge yourself of the contemptuous act of your refusal to lift the lien/restriction/Post-No-Debit placed on the Accounts of the Applicants herein, as ordered by this Honourable Court on the 11th Day of July 2024, by Honourable Justice M.A. Savage, you shall be guilty of contempt of court and will be liable to be committed to prison.”

The court gave the order upon reading the Originating Motion on Notice dated June 25, 2024, and brought pursuant to Order 2 Rules 1, 2, 3, 4 and 5 of the Fundamental Rights (Enforcement Procedure) Rules, 2009; Sections 44(1); 33(1) and 46 of the 1999 Constitution (As Amended); Article 4 & 14 of the African Charter on Human and Peoples Right and under the inherent jurisdiction of this court. 

After hearing counsel appearing for the applicant, Abayomi Alagbada, who moved the application, the court ordered the respondents to immediately lift the Lien/Restriction/Post-No-Debit and accordingly allow the applicants to operate and have full access to their bank accounts, namely: Account No. 1305009826, Energen Oil and Gas Ltd, Account No. 5403840987, Applause Global Services Nigeria Ltd, Bank Account No. 1000272578, Applause . 

Others are Global Services Nigeria Ltd, Globus Bank Lid; Account No. 1610745192, Applause Global Services Nigeria Lid, Access Bank Plc; Account No. 1310306228, Energen Oil and Gas Lid, Zenith Bank Plc maintained by the Applicants with the Respondents respectively. 

Also, the court ordered immediately allow the applicants’ beneficiaries, to wit: Fadima Talo Global Enterprise, 5400875119,

Justice Savage also ordered each of the respondents to pay the sum of N100, 000,000.00 in favour of the applicants as damages for the Illegal and unlawful Lien/Restrictions /Post-No-Debit placed on the Applicants accounts without justification. 

Besides, the court ordered the respondents to pay N20,000,000.00 as cost of action.

The matter has been adjourned to October 16, 2024 for hearing.