Home > Access Banks Shut In Enugu Over Inability To Pay N636m To F.G Onyenewe Motors

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Access Banks Shut In Enugu Over Inability To Pay N636m To F.G Onyenewe Motors

Access Banks Shut In Enugu Over Inability To Pay N636m To F.G Onyenewe Motors
Banking activities were on Tuesday grounded at all the branches of Access Bank within Enugu state as F. G. Onyenewe Motors Nigeria began the execution of a N636 million credit judgment it obtained against the bank.

It was gathered that the legal tussle, which lasted several years, ended at the Supreme Court in April this year, with the ruling in favour of the transport company.

Some newsmen who monitored the execution observed that the court officials carried the bank's properties, including computers and vehicles while the gates were shut against customers.

The exercise, which began at the bank's regional headquarters at the Garden Avenue in Enugu, was also carried out at the Ogui Road branch.

Hundreds of customers ran from one branch of the bank to another in order to make panic withdrawals but it was not possible as banking activities were suspended.

Lawyers to the judgment creditor, court bailiffs and a unit of policemen from Enugu State Police Command enforced the judgment against the bank, which drew hundreds of passersby to the scene.

Speaking to journalists at the Ogui Road branch of the bank, counsel to the plaintiff, Barr. Tagbo Ike, said it was evident that the bank was not financially viable to pay the judgment debt.[ads4]

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