A Lagos state High Court sitting in Ikeja has fined Diamond Bank Plc N25m for negligence and breach of duty of care.
The suit was filed by a customer of the bank, identified as Adetokunbo Odutola, who sought damages after the bank froze his account on the orders of the Economic and Financial Crimes Commission (EFCC).
The presiding judge, Justice S.O. Nwaka, in his ruling held that freezing a bank account should only be on the orders of a court of competent jurisdiction. He said neither a law enforcement agency nor an anti-corruption agency is empowered to give such a directive.
The judge said: “The bank went ahead to place PND (Post No Debit) on the account of the claimant on the instructions of the EFCC. The bank ought to have demanded from the EFCC an order of court to that effect.
“It is not in the power of the EFCC to authorise a PND on any customer’s account. The EFCC must not usurp the powers of a court of law. The duty of care owed the claimant by the second defendant (Diamond Bank) is nothing but breached.
“This is a society whose affairs are supposed to be governed and conducted in accordance with the law. The EFCC and the bank taking law into their own hands is nothing but shameful.
“I am satisfied that the claimant has proved his case on the preponderance of evidence and I so hold. Judgment is hereby entered for the claimant against the second defendant as per his claims.”
