Sowore Slams N100 Million Suit On GT Bank For Freezing His Accounts

A Human rights activist and pro-democracy campaigner Omoyele Sowore has filed a lawsuit against Guaranty Trust Bank (GTB), seeking N100 million in damages.

Sowore, a former presidential candidate of the African Action Congress (AAC), is demanding compensation for the damage caused by the prolonged freezing of his accounts.

Sowore noted that the bank which has frozen his accounts since 2019 had violated his fundamental right to property.

The suit was filed by his counsel, Inibehe Effiong Esq., at the Federal High Court of Nigeria, Lagos Judicial Division, with case number FHC/L/CS/ /2024.

According to court documents, Sowore opened accounts with GTB in 2015.

He accused the bank of freezing the accounts in 2019 without providing any valid reason or notifying him, thereby restricting his access to his funds.

The lawsuit asserts that this action constitutes a violation of his constitutional rights and has caused him significant financial hardship and emotional distress.

“The arbitrary freezing of my client’s accounts without due process is not only unlawful but also a blatant infringement on his fundamental rights,” stated Inibehe Effiong, Sowore’s legal counsel.

The activist is requesting the court to order GTB to unfreeze his accounts immediately and to award him ₦100 million in damages for the violation of his rights.

Sowore said, “Despite my demand letter, the Respondent has refused to lift the restriction it placed on my accounts neither has it paid any form of compensation to me.

“I state for a fact that since the restriction placed on my accounts, I have been unable to access the funds contained in those accounts.

“My inability to access the funds in my restricted accounts have also frustrated my business activities as I have overdue bills and expenses which I am yet to discharge.

“The Respondent’s restriction on my accounts has caused me huge financial embarrassment as on various occasions, I have had to borrow money from people in order to meet my day-to-day needs.”

 

The charge read, “A Declaration that the Respondent’s act of freezing and restricting the Applicant’s accounts with Account Numbers: (1) 0169510647 (Current Account); (2) 0169510867 (Savings Account); (3) 0169510850 (Current Account); (4) 0171422811 (Master Card/Visa Debit Account Type) and Account Name: Sowore Omoyele Stephen respectively, all domiciled with the Respondent; Guaranty Trust Bank Ltd is unlawful, unconstitutional, null and void and a breach of the Applicant’s right to property guaranteed by the provisions of Section 44 of the Constitution of the Federal Republic of Nigeria, 1999 (as amended) and Article 14 of the African Charter of Human and Peoples Rights (Ratification And Enforcement) Act LFN 2010.

“An Order of this Honourable Court directing the Respondent to lift the restriction placed on the Applicant’s accounts with Account Numbers: (1) 0169510647 (Current Account); (2) 0169510867 (Savings Account); (3) 0169510850 (Current Account); (4) 0171422811 (Master Card/Visa Debit Account Type) and Account Name: Sowore Omoyele Stephen respectively, all domiciled with the Respondent; Guaranty Trust Bank Ltd.

“An Order of perpetual injunction restraining the Respondent whether by itself, its agents, privies/ or servants from unlawfully interfering with the Applicant’s accounts with Account Numbers: (1) 0169510647 (Current Account); (2) 0169510867 (Savings Account); (3) 0169510850 (Current Account); (4) 0171422811 (Master Card/Visa Debit Account Type) and Account Name: Sowore Omoyele Stephen respectively, all domiciled with the Respondent; Guaranty Trust Bank Ltd.

“An Order of this Honourable Court mandating the Respondent to pay to the Applicant the sum of 100,000,000.00 (One Hundred Million Naira) as general damages for the unlawful freezing of the Applicant’s accounts with Account Numbers: (1) 0169510647 (Current Account); (2) 0169510867 (Savings Account); (3) 0169510850 (Current Account); (4) 0171422811 (Mater Card/Visa Debit Account Type) and Account Name: Sowore Omoyele Stephen respectively, all domiciled with the Respondent; Guaranty Trust Bank Ltd.

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“An Order of this Honourable Court mandating the Respondent to pay to the Applicant the cost of prosecuting the instant suit.

“And any other order(s) as the Honourable Court may deem fit to make in the circumstance of the case.”

It continues, “I state for a fact that for years, specifically since 2019, all of the above-listed accounts which I opened with the Respondent have remained frozen, rendered inaccessible and inoperable by the Respondent.

“Up to date, the Respondent has not offered me any satisfactory and formal explanation in respect of the restriction it placed on my accounts.

“I have lodged several complaints yet the Respondent has refused to lift the restrictions placed on my accounts.

“I state for a fact that through my Solicitor, Iboroabasi Ntong, Esq. of Inibehe Effiong Chambers, I wrote a demand letter demanding that the Respondent lift the restrictions placed on my accounts and pay me compensation for the prolonged restrictions placed on my accounts which have incapacitated me from carrying out banking transactions and impeded my legitimate businesses and affairs.”

“The demand letter is dated 23rd April, 2024, and it was duly served on the Respondent,” he added.