By Ayomide Otitoju
A legal dispute has arisen between a Kwara-based website and graphic designer, Abdulazeez Adewale Adekanye, operating under the business name Sanctum Zeez Graphics, and Providus Bank Plc. The case, filed at the Federal High Court, Lagos Division, alleges contractual breaches and rights violations by the financial institution.
According to court filings, the plaintiff claims that Providus Bank unlawfully imposed a Post No Debit (PND) restriction on his account without obtaining a court order. The restriction allegedly led to significant financial losses and an infringement of his constitutional right to ownership of moveable property.
The lawsuit, designated as Suit No: FHC/L/CS/218/2025, raises critical legal questions, including whether the bank possessed the authority to impose an indefinite PND restriction without legal justification. The plaintiff further contests the bank’s reasoning, which reportedly linked the restriction to financial inflows from accounts domiciled at Fairmoney Microfinance Bank on November 24, 2024.
Adekanye is seeking a court declaration affirming that Providus Bank has a fiduciary duty of care under the banker-customer relationship. He also demands a ruling that the bank’s actions constituted a violation of his constitutional and property rights.
The reliefs sought include:
Immediate removal of the PND restriction.
₦50 million in damages (₦20 million for breach of contract and ₦30 million for rights violations).
₦3 million to cover legal costs.
Additionally, the lawsuit challenges Providus Bank’s reliance on a 2015 circular from the Central Bank of Nigeria (CBN), arguing that it does not authorize indefinite account restrictions without due process.
Legal analysts suggest that the case could set a precedent for the limits of banks’ authority in imposing account restrictions and the regulatory framework surrounding such actions.
As of press time, neither Providus Bank nor its legal representatives have publicly responded to the lawsuit.
