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the Guaranteed Trust Bank Plc to refund N5.3bn illegally withdrawn from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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