A Federal High Court in Lagos has awarded the sum of N2billion in damages against Zenith Bank in favour of Tsami Babi Nig. Ltd, Amsamay Ltd and M A.Y Fine Fragrance.
This was following the illegal restriction placed on the accounts of the aforementioned businesses by the bank.
Delivering the judgement, Justice R.O Olukolu ordered Zenith Bank to immediately unfreeze the accounts of the claimants, declaring it as illegal since the court order on the accounts, dated November 2022, was expired.
Olukolu also awarded an exemplary damage of N1 billion against the bank in favour of another customer, whose account was also illegally restricted.
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See the court document below
