A high court sitting in Akure, the Ondo state capital, has
granted a garnishee order directing the Central Bank of Nigeria(CBN) to freeze
the account of Polaris Bank over a judgment debt of N2.16 billion.
A garnishee order is one of the options open to a judgment
creditor to enforce a judgment that has been made in its favor.
The order was issued by Adegboyega Adebusoye, the presiding
judge, following an application filed by Charles Titiloye, Ondo
attorney-general and commissioner for justice.
Titiloye had filed the application over alleged failure and
neglect of the bank to meet the condition of the stay of execution of an
earlier judgment.
In the judgement delivered in suit No AK/75/2017, Polaris
Bank was held liable for mismanaging the account of Ondo ministry for local
government and chieftaincy affairs.
The trial court, in its ruling, held that Polaris Bank made
unlawful deductions from the government account and ordered a refund and
payment of damages.
A stay of execution of its judgment was also granted pending
appeal on the condition that the bank made payment of the judgement debt to an
account held by the registrar of the court.
Following the failure and neglect of the bank to meet the
condition of the stay of execution of the judgment, the judge granted leave to
the state government to garnish the account of Polaris Bank with Central Bank
of Nigeria (CBN) for the payment of the judgment sum.
Further hearing on the matter was adjourned to Monday,
January 16, 2021.
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