Business N2.1bn Judgement Debt: Court Orders CBN To Freeze Polaris Bank Account
A garnishee order is one of the options open to a judgment creditor to enforce a judgment that has been made in its favor.
The order was issued by Adegboyega Adebusoye, the presiding judge, following an application filed by Charles Titiloye, Ondo attorney-general and commissioner for justice. Titiloye had filed the application over alleged failure and neglect of the bank to meet the condition of the stay of execution of an earlier judgment.
In the judgement delivered in suit No AK/75/2017, Polaris Bank was held liable for mismanaging the account of Ondo ministry for local government and chieftaincy affairs. The trial court, in its ruling, held that Polaris Bank made unlawful deductions from the government account and ordered a refund and payment of damages.
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