Ecobank: Court Freezes Businessman’s N500m For Owning Bank

A businessman, Francis Uzuegbu has been handed a freezing order on his bank accounts for owing the Pan-African bank N522.5 million.

The order was made by a federal high court in Lagos following a case filed against Uzuegbu and Mac DE Frank International, a firm owned by him.

According to the details of the case, Justice Chukwuejekwu Aneke gave the order following a motion of ex-parte filed by counsel to Ecobank, George Chika Duru, in a suit marked FHC/L/CS /429/2023.

The Pan-African bank asked the court for an “injunction restraining the first and second defendants, whether by themselves, agents, proxies, privies or any other person acting on their behalf from withdrawing, transferring, transacting and dealing in any manner howsoever with any monies/funds in their accounts with the banks listed to the sum of N522,589,719.27 pending the hearing and final determination of the motion on notice filed along herewith, among others.

Justice Aneke has now adjourned the proper hearing of the case to June 26.