A Federal High Court, presided over by Justice Ayounle Faji, has ordered Access Bank Plc to pay N10 million in damages for the unlawful freezing of a customer’s account. The ruling follows a suit filed by Adenike Akinlade, whose account was blocked without a valid court order.
Justice Faji condemned the bank’s action of placing a “Post No Debit” (PND) order on Akinlade’s account, declaring it illegal, unconstitutional, and a violation of her constitutional rights. The court found that Access Bank’s action infringed on Akinlade’s right to access her funds as guaranteed under the Nigerian Constitution and the African Charter on Human and Peoples’ Rights.
The judgment also includes several declarations, such as that the bank cannot act on the instructions of any third party to place a PND on an account without a valid court order. Additionally, the court directed the bank to immediately release the restriction on Akinlade’s account.
Akinlade, represented by Barrister Oladotun Ajulo, had filed the suit after her account was frozen by the bank for 29 months, causing her significant financial and reputational harm. Despite Access Bank’s argument that the restriction was based on an order from Interpol, the court found no valid court order was in effect after August 4, 2022, and deemed the continued freezing of the account unlawful.
The court emphasized that the wrongful restriction led to severe financial and emotional distress for Akinlade, thus justifying the award of N10 million in damages.
