N784.3m Debt: Court unfreezes Benue govt account

The Federal High Court in Abuja on Tuesday ordered the unfreezing of all accounts belonging to the Benue government, except one domiciled in Zenith Bank.

Judge Inyang Ekwo made the order after the adoption of the Memorandum of Compromise, MOU, by the lawyers representing the parties in the lawsuit.

The Nigerian News Agency reports that while the Asset Management Corporation of Nigeria is the plaintiff/applicant in the case, HPPS Multilinks Services Ltd and the Government of Benue are the first and second defendants.

The MoU dated January 25 and submitted on January 26 was adopted on February 1.

Led by another lawyer, TD Pepe (SAN) adopted the MoU on behalf of the Benue government while
Val Igboanusi adopted on behalf of the plaintiff.

A. T Kehinde (SAN) adopted for Fidelity Bank Plc, and Mr CO Nwosisi, was for GTBank Plc and the other banks’ attorneys also adopted on behalf of their clients.

Subsequently, Judge Ekwo ordered that the Zenith bank with account No. 1013470079 designated as the Benue Government Ecological Account be frozen in the amount of the disputed debt by an interim order of the court pending the disposition of the case.

However, it ordered the unfreezing of all Benue government accounts with Access Bank Plc, Citibank Nigeria Ltd, Ecobank Nigeria Ltd, Fidelity Bank Plc, First City Monument Bank Plc, Guaranty Trust Bank Plc and Heritage Bank Pic.

Other banks ordered by the court to unfreeze Benue government accounts include Keystone Bank Ltd, Polaris Bank Ltd, Stanbic IBTC Bank Plc, Standard Chartered Bank Ltd, Suntrust Bank Nigeria Ltd, Union Bank of Nigeria Plc, UBA Plc, Unity Bank Nigeria Plc and Bank Wema plc.
The judge adjourned the matter until March 2 for a report on the order.

“Pursuant to the discussions and agreement of the parties, all other Benue Government accounts frozen by this October 26, 2021, Interim Court Order will be unfrozen, while Account No. 1013470079 with Zenith Bank Plc, designated Benue Government Ecological Account to remain frozen in the amount of the disputed debt, pending determination or resolution of the dispute.

NAN recalls that Judge Ekwo, in an ex parte request dated and filed on September 30, 2021, issued an interim order freezing and seizing the accounts of both HPPS Multilinks Services Ltd and the Benue government, which were the first and second defendants domiciled in the aforementioned banks.