Disputed N2.1b judgment: Polaris Bank challenges garnishee order

• Published date: 15 January 2023
• Publication title: Nigeria - The Nation

Polaris Bank has applied to set aside a garnishee order nisi which directed the Central Bank of Nigeria (CBN) to freeze its account following a disputed N2,162,561,509.84k judgment debt.

It argued that the garnishee order ought not to have been made as the judgment was already being challenged at the Court of Appeal.

It added that it was also the subject of a motion for a stay of execution.

Polaris Bank made the claim in a statement by its Head of Corporate Communication, Mr. Rasheed Bolarinwa.

The bank and its 'judgment creditor' the Ondo State Government are the parties in the suit marked AK/75/2017 at the Ondo State High Court.

The court made the garnishee order following an application by the state's Attorney General and Commissioner for Justice, Charles Titiloye.

The order attached all the sums of indebtedness of Polaris Bank to the Ondo State Government.

However, reacting to the order, the bank said the debt case was pending in...