Court attaches Imo State’s bank accounts over N1.5b debt

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A High Court of the Federal Capital Territory (FCT), Abuja has ordered the attachment of funds in accounts owned by the Imo State Government in the Central Bank of Nigeria (CBN) and 16 other banks in the country.

Justice Bello Kawu, sitting in Kubwa, gave the order in a motion ex-parte for garnishee order nisi brought by a firm, E. F. Network Nigeria Limited and its promoter, Gideon Egbuchulam.

The garnishee proceedings was predicated on a March 8, 2019 judgment of the Supreme Court, which found that the Imo State Government was indebted to E. F. Network and Egbuchulam for contracts executed for the government.

Justice Kawu ordered that all money held by the state in its accounts with all the listed banks, should be attached for the purpose of satisfying the judgment of the Supreme Court delivered on the 8th day of March 2019 (which affirmed the concurrent judgment of the Court of Appeal and the High Court of Imo State).

The judge gave the banks 14 days within which to show cause why the garnishee order nisi should not be made absolute in satisfaction of the judgment sum contained in the Supreme Court judgment.

He adjourned to May 3 for the banks to show cause and for hearing on whether or not the garnishee order should be made.

The banks listed with the CBN are Access Bank, Zenith Bank, Jaiz Bank, Union Bank, First Bank, U.B.A, Ecobank, Keystone Bank, Diamond Bank, Fidelity Bank, Polaris Bank, GTBank, Stanbic IBTC Bank, Unity Bank, Heritage Bank and FCMB Bank.

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