Bank Restrained From Seizing Client’s Assets

A Federal High Court sitting in Lagos, southwest Nigeria, has stopped Sterling Bank from impounding the assets of one of its clients, Mr. Olakunle Longe, for failing to pay back the money he owes it.

Longe was was said to have been granted a facility in May 2008 but could not settle his bills in 48 installments in April 2011 as promised, claiming his business has collapsed

He said that during the period of default, he had several meetings with Mrs. Mojisola Shiyanbola, who is the Iju branch manager of the bank, and Mrs. Eniola, the regional manager, to whom he explained the situation surrounding the financial down turn in his business.

The manager, according to Longe, told him she had presented his case before the management and that his matter had been looked into, andpromised to pay before 1 June 2011, which he did.

“But on 1 June, Mr. Godwin Ojo, who claimed to be an employee of the bank visited my residence and informed me that my attention was urgently needed at the head office for a discussion in respect of the facility granted to me. I quickly drove down to the head office in my Ford Everest Jeep Registration no MZ456AAA in company of Mr. Ojo to hold a meeting with Mrs. Kikelomo Kuponiyi.

When I got to the bank’s car park, I found that my jeep had been impounded without any plausible reason.

When I went back to Mrs Kuponiyi to explain what I had just encountered at the car park, she told me that the director who has power to release my vehicle was not in the office. She pleaded with me to come the following day but when I got there, I was told by Mrs. Kikelomo that the management had given an order to impound my car until the 11 months rental is paid.

After the hearing from both claimant and defendant, the judge restrained Sterling Bank from selling, disposing or leasing the vehicle to a third party or any person.

The matter has been adjourned till 29 June.

—Alatise Kehinde