A High Court of the Federal Capital Territory in Abuja, yesterday ordered Guaranteed Trust Bank, GTB, Plc to refund N5.3billion illegally withdrawn from the account of one of its customers, Dr. Ted Iseghohi Edwards.
Justice Valentine Ashi in his judgment ordered that the N5.3billion should attract 10 percent interest from yesterday, when judgment was delivered, till the time the money was paid back to the owner.
The court also ordered that the money should attract another 21 percent interest from December 12, 2014, when GTB illegally withdrew the money, until the fund was eventually paid back to Edwards.
Edward, a lawyer of Edwards and Partners Law Firm, had initiated the suit, FCT/HC/CV/939/2015, in January 2015, following the alleged illegal withdrawal of the money on December 12, 2014.
The money was paid into the plaintiff’s law firm’s account with the GTB on January 2, 2014, by the Accountant-General of the Federation, Jonah Otunla.
The money was said to be for the settlement of a judgment got by his clients, Impecca Services Limited, and His Royal Highness, Eze Ezekwo, against the Association of Local Governments of Nigeria, as cost of consultancy services they rendered to the 774 local governments.
Justice Ashi held in his judgment that GTB betrayed the banker-customer relationship between it and the plaintiff.
The judge held that it was wrong for GTB to have made withdrawal from the customer’s account without the customer’s knowledge and consent.


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