BANK FINED N25 MILLION FOR FREEZING ACCOUNT

, Magazine

Diamond Bank Plc has been fined N25 million for allegedly freezing the account of one Mr. Adetokunbo Odutola on the instructions of the Economic and Financial Crimes Commission.

The Lagos State high court, Ikeja in a ruling by Justice S.O. Nwaka said that a bank account could only be frozen on the order of a court and not an agency.

The judge opine that the bank placed a Post No Debit on the claimant account without due process.

He further gave an outcry for restoration of law and order in the country. That the society is supposed to be governed and conducted in accordance with the law and no one must take the law into their hands.