Court orders GTB to refund customer’s N5.3bn

A High Court of the Federal Capital Territory in Apo, Abuja,  on Monday ordered the Guaranteed Trust Bank Plc to refund N5.3bn illegally withdrawn from the account of one its customers, Dr. Ted Iseghohi Edwards.

Justice Valentine Ashi in his judgment ordered that the N5.3bn should attract 10 per cent interest from Monday, when judgment was delivered, till the time the money was paid back to the owner.


The court also ordered that the money should attract another 21 per cent interest from December 12, 2014 when GTB illegally withdrew the money, until the fund was eventually paid back to Edwards.

The judge, while reviewing the case, in his judgment held that the bank did not have any defence to its action of the withdrawal of the total sum of N5,240,516,186.21 from the customer’s account and thereby ordered the bank to pay the money to the owner through his Zenith Bank Plc account.

Credit: www.punchng.com/

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