An FCT High Court, Kubwa, has discharged the garnishee order issued on 11 banks, in a suit instituted by Keystone Bank against three judgment debtors-Fasanboye Group of companies, Prince Johnson Adedinni, and Mr Demola Banjo.
The banks are Access, Stanbic, Fidelity, First Bank, First City Monument, Guaranty Trust, Heritage, Skye, Unity, Wema and Zenith Bank.
The judgment debtors had jointly taken a loan of N10. 48 million from Keystone Bank on Nov.3, 2008.
Justice Bello Kawu, discharged the order, after listening to submissions of counsel to the banks and adjourned the matter until May 16.
He ordered the creditor’s counsel (Keystone Bank), Ngozi Oraeki to produce particulars to enable Ecobank ascertain if Banjo owns an account with Ecobank.
Counsel to Ecobank, Adeniyi Shoda, had told the court that the bank had many names similar to Banjo in their records, but the bank was unable to ascertain the exact judgment debtor.
He, however, asked for more of Banjo’s particulars to know if he actually maintains an account with Ecobank.
Oraeki assured the court that he would make Banjo’s particulars available to Ecobank.
Counsel of the 11 banks, had individually told the court that their clients conducted a diligent wide search on its customers’ database.
The database was done to know if the judgment debtors operate any accounts with the banks of which they discovered they do not.
The counsel of the banks, individually prayed the court to discharge their clients of any liability in the case.
The court had delivered a ruling on May 19, 2016, for the debtors to pay up the said loan which they did not comply with.