News
Sowore Takes GTBank to Court, Demands N100m Compensation for Frozen Accounts
EKO HOT BLOG reports that Sowore claims the bank’s actions infringe on his fundamental right to property. His lawyer, Inibehe Effiong, filed the case at the Federal High Court in Lagos, accusing GTB of freezing the accounts without valid cause or prior notice.
Sowore, who ran for president under the African Action Congress (AAC) in 2019, opened the accounts in 2015. He alleges that the restrictions, in place since 2019, have caused him substantial financial difficulties, affecting his business and personal life.
Effiong criticised the freeze as illegal, stating, “The arbitrary freezing of my client’s accounts without due process is not only unlawful but a direct violation of his rights.”
EDITOR’S PICKS
- Health, Planning Ministries Partner with AfDB on Sustainable System Project
- Shamim Ahmed: Student Ally of Bangladesh’s Ex-Prime Minister Loses Life
- Match Words With Actions -Lawyers Urge New CJN, Kekere-Ekun
Sowore is asking the court to compel GTB to unfreeze his accounts and award him N100 million in damages for the financial strain caused. Despite numerous complaints and a formal demand letter, the bank has reportedly refused to lift the restrictions, leaving Sowore unable to access his funds and forcing him to borrow money for his expenses.
The lawsuit outlines that all of Sowore’s accounts—current, savings, and debit card—have been frozen since 2019. Additionally, Sowore seeks a court order preventing future unlawful interference by GTB and covering the cost of legal proceedings.
In his statement, Sowore expressed frustration with GTB’s lack of response, highlighting how the prolonged freeze has impacted his business operations and personal finances.
The charge read, “A Declaration that the Respondent’s act of freezing and restricting the Applicant’s accounts with Account Numbers: (1) 0169510647 (Current Account); (2) 0169510867 (Savings Account); (3) 0169510850 (Current Account); (4) 0171422811 (Master Card/Visa Debit Account Type) and Account Name: Sowore Omoyele Stephen respectively, all domiciled with the Respondent; Guaranty Trust Bank Ltd is unlawful, unconstitutional, null and void and a breach of the Applicant’s right to property guaranteed by the provisions of Section 44 of the Constitution of the Federal Republic of Nigeria, 1999 (as amended) and Article 14 of the African Charter of Human and Peoples Rights (Ratification And Enforcement) Act LFN 2010.
“An Order of this Honourable Court directing the Respondent to lift the restriction placed on the Applicant’s accounts with Account Numbers: (1) 0169510647 (Current Account); (2) 0169510867 (Savings Account); (3) 0169510850 (Current Account); (4) 0171422811 (Master Card/Visa Debit Account Type) and Account Name: Sowore Omoyele Stephen respectively, all domiciled with the Respondent; Guaranty Trust Bank Ltd.
FURTHER READING
- BREAKING: FG Begins New Minimum Wage Payments For Workers
- Mallorca Fan Sentenced To Prison For Racist Abuse Of Vinicius Junior, Chukwueze
- Benin Republic Arrests 3 Men Suspected Of Coup Plot
“An Order of perpetual injunction restraining the Respondent whether by itself, its agents, privies/ or servants from unlawfully interfering with the Applicant’s accounts with Account Numbers: (1) 0169510647 (Current Account); (2) 0169510867 (Savings Account); (3) 0169510850 (Current Account); (4) 0171422811 (Master Card/Visa Debit Account Type) and Account Name: Sowore Omoyele Stephen respectively, all domiciled with the Respondent; Guaranty Trust Bank Ltd.
“An Order of this Honourable Court mandating the Respondent to pay to the Applicant the sum of 100,000,000.00 (One Hundred Million Naira) as general damages for the unlawful freezing of the Applicant’s accounts with Account Numbers: (1) 0169510647 (Current Account); (2) 0169510867 (Savings Account); (3) 0169510850 (Current Account); (4) 0171422811 (Mater Card/Visa Debit Account Type) and Account Name: Sowore Omoyele Stephen respectively, all domiciled with the Respondent; Guaranty Trust Bank Ltd.
“An Order of this Honourable Court mandating the Respondent to pay to the Applicant the cost of prosecuting the instant suit.
“And any other order(s) as the Honourable Court may deem fit to make in the circumstance of the case.
“I state for a fact that for years, specifically since 2019, all of the above-listed accounts which I opened with the Respondent have remained frozen, rendered inaccessible and inoperable by the Respondent.
“Up to date, the Respondent has not offered me any satisfactory and formal explanation in respect of the restriction it placed on my accounts.
“I have lodged several complaints yet the Respondent has refused to lift the restrictions placed on my accounts.
“I state for a fact that through my Solicitor, Iboroabasi Ntong, Esq. of Inibehe Effiong Chambers, I wrote a demand letter demanding that the Respondent lift the restrictions placed on my accounts and pay me compensation for the prolonged restrictions placed on my accounts which have incapacitated me from carrying out banking transactions and impeded my legitimate businesses and affairs.
“The demand letter is dated 23rd April, 2024, and it was duly served on the Respondent.”
The case is expected to proceed at the Federal High Court, with Sowore seeking both financial restitution and the restoration of his banking privileges.
Click here to watch our video of the week:
Advertise or Publish a Story on EkoHot Blog:
Kindly contact us at [email protected]. Breaking stories should be sent to the above email and substantiated with pictorial evidence.
Citizen journalists will receive a token as data incentive.
Call or Whatsapp: 0803 561 7233, 0703 414 5611
