Bola Shagaya Sues Unity Bank As EFCC Freezes N8. 6b

Hajiya Muinat Bola Shagaya, an associate and friend of former First Lady, Mrs. Patience Jonathan, has dragged Unity Bank to the High Court of Lagos State for allowing the Economic and Financial Crimes Commission (EFCC) to Post No Debit (PND) on her accounts without a valid court order.

Shagaya, who did not hold any public appointment during the administration of ex-President Goodluck Jonathan, has over N8, 627,458,773.36 billion in three accounts in the bank which has been frozen by the anti-graft agency

She says the action taken on her accounts violates Section34 (1) of the EFCC Act, 2004 insisting that the ban placed on one of her accounts has prevented her from defraying N514, 800,000 incurred as cumulative costs in the course of an Aircraft Lease Agreement of a bombardier Jet with her forfeiting US$1million.

According to documents which Shagaya filed and deposed to at the Court alongside with her counsel, Napoleon Emeaso-Nwachukwu, she accused Unity Bank of complicity on her travails following  the bank’s alleged failure to exercise the requisite due diligence.

She specifically referred to the bank’s refusal to allow her to make transactions on Account 000326118 including payment of N514, 800,000 to Global Apex Air Limited, through Heavywind Integrated Services, for the lease of a bombardier revealing that the Aircraft Lease Agreement between her and Global Apex Air Limited has been terminated.

“The official of the Defendant (Unity Bank) whom my Personal Assistant relayed the development to, informed him that on the 3rd of November, 2016, the Defendant received a letter from the EFCC through their Lagos office informing it that my account with it is under investigation and requested that the account be put on “Post No Debit” pending the outcome of the investigation hence the Defendant’s inability to honour my payment instruction,” she stated.

“Initially I laughed off the excuse as a ploy of the Defendant to deter me from taking legal actions against it for dishonouring my payment instructions especially that of the 31st of October 2016 which ultimately led to the termination of the Aircraft Lease with Global Apex Air Ltd. And the loss of the sum of One Million United States Dollars deposited with the Lessor by me.

“On the 27th of January, 2017 the Defendant responded to my Solicitor’s letter. In its response, the defendant stated that: “it observed that long before your client forwarded her cheques and payment instruction to the Bank as indicated in your letter under reference, the EFCC had formally informed the Bank that an investigation relating to your client’s account was ongoing and sought the cooperation on the Bank accordingly.” The Defendant’s letter ended by stating that “Based on our understanding and the fact that the Bank was already aware that the Law Enforcement Agency had taken definite steps to comply with Section 34(1) of the EFCC Act, 2004, behoves the Bank not to allow the dissipation or removal funds in your client’s account without appropriate clearance from the Law Enforcement Agency or a judicial order directing the release of the funds to your client.”

“I will also contend at the hearing of this Suit that the Defendant negligently and wrongfully failed to exercise the requisite due diligence and by extension, the duty of care it owed me as my banker prior to complying with the alleged freezing instruction from the EFCC.

“The Defendant did not request and ensure it was obliged the Freezing Order from a court of competent jurisdiction prior to complying with the instruction to freeze the Claimant’s account

“The Defendant failed to honour the Claimant’s payment instructions of the 31st of October 2016 as well as those of the 1st and 2nd November 2016 which preceded the alleged instruction from the EFCC.

“The Defendant failed to promptly notify the Claimant of the freezing other account. The freezing of the Claimant’s account did not comply with Section 34(1) of the EFCC Act, 2004.

“Since the unlawful freezing of my account by the Defendant, I have not been able to transact with that account due to my inability to access same thereby causing business losses and opportunities.