An Ondo State High Court, sitting in Akure, the state capital, has granted a garnishee order, directing the Central Bank of Nigeria to freeze the account of Polaris Bank to the extent of judgment debt of over N2bn.
Delivering the judgment, the judge, Justice A. Adebususi, said the bank was liable for mismanaging the account of Ondo State Ministry for Local Government and Chieftaincy affairs.
The court held in its judgment that Polaris Bank made unlawful deductions from the government account with the bank and ordered a refund and payment of the damages. It was gathered that a court had earlier granted a stay of execution of its judgment pending an appeal on the condition that the bank made payment of the judgement debt to an account held by the Registrar of the court.All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH.
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