Eleme Petrochemical Co-operative: CSOs Warn First Bank PlC Against Disobeying Court Order

The Civil Society Organizations in Defence For Justice based in Abuja have cautioned First Bank Ltd against disobedience of court order.

The convener of the group, Comrade Adah Sam, made this call in Abuja on Friday.

Sam said it is seriously worrisome that a bank such as first bank Ltd will be used as a tool to victimise innocent Nigerians of their legitimate earnings.

“It is on notice that some powerful individuals through proxy have deployed every means possible to frustrate beneficiaries of the shares from accessing their dividends.

The organization is aware: that the federal High Court has settled the matter of who owns what in the co-operative and that judgement has remained unchallenged to this day and no Appeal against the judgement has been filed”

“That it is also on record that the EFCC was introduced into the matter claiming a fraud was committed in the acquisition process of the shares the EFCC is coming in after the high court had already decided on the acquisition and ownership of the shares”

“That the EFCC secured a court judgement placing a restraining order on the co-operatives account and the bank obeyed the order”

“that after the court discovered the deciet of the EFCC leading it to placing the temporary restraining order the Cooperapplued to have the freezing order vacated, the freezing order was vacated. However, the First Bank has refused to honour the order vacating the freezing order.”

“One will wonder whose interest First Bank is serving?, Why will first Bank refuse to honour a court order from the same court that initially ordeted it to flag/freeze the account?

“The action of First Bank plc in refusing to allow access to the account despite several letters writing by the lawyers of the co-operative simply shows that this is not about law anymore ,but pure victimization and possibly these some external forces are at work.

For the interest of Justice, First Bank ltd is hereby enjoined do the needful or get ready to face an action from the organization He said.