The Federal High Court in Abuja has dismissed a suit instituted by a businessman, Abdulaziz Aliyu, against the Inspector-General of Police, IGP, Keystone Bank and two others over the freezing of his business bank account domiciled at Keystone Bank.
Aliyu, trading under the name “IBN Ali Enterprise”, lost the legal battle in which he demanded ₦150 million in compensation over loss of business allegedly arising from the unlawful freezing of the business bank account.
Justice Peter Odo Lifu, in a judgment, threw out the suit for want of merit in the allegations brought against Keystone Bank, the IGP and two other defendants.
In the suit marked FHC/ABJ/CS/1137/2024, the businessman sued Keystone Bank, the IGP, the Commissioner of Police in Nasarawa State and the Divisional Police Officer in Mararaba, challenging the “Post No Debit” restriction placed on his business account number 1012464352 without any justifiable reason.
Specifically, the plaintiff claimed that the action of Keystone Bank, the IGP and others in freezing his business bank account without a valid court order amounted to an infringement of his fundamental rights to own and operate a bank account in Nigeria.
He prayed Justice Lifu to compel the defendants to pay him ₦100 million for loss of business during the period he could not access the bank account.
The businessman demanded another ₦50 million from the defendants as compensation for the alleged infringement of his fundamental rights to own and operate a bank account as a citizen of Nigeria.
Apart from the monetary compensation, the plaintiff applied for an order of the court compelling the unfreezing of the account and another order restraining the police from harassing, intimidating or arresting him.
However, in his judgment, Justice Lifu held that, contrary to the businessman’s claim, the business bank account was restricted pursuant to a valid court order exhibited by Keystone Bank.
The judge, who upheld the defence of Keystone Bank, said the bank could not have acted otherwise after being served with a petition and court order placing a “Post No Debit” restriction on the disputed account as a result of a criminal investigation into alleged criminal conspiracy, breach of trust, cheating and criminal trespass against the plaintiff.
Justice Lifu said Keystone Bank merely acted on a valid court order by restricting the bank account for 35 days, adding that the bank could not have unfrozen the account on its own volition without facing the consequences of disobedience to a valid court order.
“The law is elementary that every order of a court of competent jurisdiction, whether rightly or wrongly made, remains valid and binding until it is set aside.”
Justice Lifu held that, from the totality of the evidence placed before the court, none of the prayers of the plaintiff was grantable in law.
The judge subsequently dismissed the suit in its entirety for lacking in merit and substance.
Court dismisses businessman’s ₦150m suit against IGP, Keystone Bank