A High Court sitting in the Federal Capital Territory Abuja has ordered Guaranty Trust Bank plc (GTB) to reverse funds illegally debited from the account of one of its customer – Universal Agricultural Empowerment and Development Initiative (UNAEDI).
UNAEDI, is a non governmental organisation.
Giving judgement in suit number FCT/HC/CV/2306/2017, on September, 26, Justice O. O. Goodluck, ordered the bank to pay a damage of one hundred thousand naira to the non governmental organisation.
The court also ordered GTB to lift the lien placed the account.
UNAEDI, had alleged that the monies which totalled $3,123.16 (Three Thousand, One Hundred and Twenty Three Dollars, Sixteen Pence) N412, 000 (Four Hundred and Twelve Thousand Naira), N4,242,259.59 (Four Million, Two Hundred and Forty-Two Thousand, Two Hundred and Fifty-Nine Naira, Fifty Kobo) were illegally debited from its account between 9th of March, 2016 and 20th April, 2016 after the bank placed a lien on the account on 13th November, 2015.
Arguing before Justice Goodluck, counsel to UNAEDI and Osaretin Williams (The plaintiffs) Samuel Irabo Esq urged the court to determine whether the bank can unilaterally flag some transaction ‘fraudulent’ after deducting bank charges, placing a lien on the account and deliberately deducting from the same account without informing or explaining to the customer.
The bank through its counsel Ogunmuyiwa Balogun Esq. argued that it’s actions were based on suspicion that some of the transaction on the account were ‘fraudulent transactions’.
Speaking on the issue, President of UNAEDI, Engr. Austin Ighodaro, said the organisation receives donations for humanitarian services through the organisations account domiciled with GTbank but was surprised because “GTB were the financial processor, they placed a 3D secured on the platform to avert fraudulent transactions and hold any donations for 72 hours to ascertained the genuity of funds. Then GTB, will minus their percentage first before sending ours to the organisation.”
“Our GTB account officer had warned me by September and October 2015. On two occasions that we should be leaving money in their Bank for their bank target. I told him we have to carry out humanitarian services. He said on the contrary UNAEDI will have problem with their management and immediately they started their illegal act by restricting our account without any court order, by March 9th 2016. GTB started stealing the funds. When we inquired about their actions they started fabricating stories hence our resolve to seek legal redress to the issue.
“GTB were the financial processor, they placed a 3D secured on the platform to avert fraudulent transactions and hold any donations for 72 hours to ascertained the genuity of funds. Then GTB,will minus their percentage first before sending ours to us. Simply because they placed a lien on UNAEDI account without a court order.
“Because we threatened to drag them to EFCC and court, they quickly fabricated a unfounded and malicious accusations against UNAEDI,” he said.
Reacting to the judgement, counsel to UNAEDI, Samuel Irabo Esq expressed joy with the judgement saying it will go along way to strengthen citizens’ faith in the judiciary.
