News, Society

Access Bank In N200 Million Trouble

Access Bank Plc has been sued for N200million by Image Merchants Promotion Limited, and its promoter, Yushau Shuaib over an alleged unlawful freezing of their four different accounts with the bank in the past two years.

Image Merchants Promotion Limited and Yushau Shuaib has now dragged the bank before a High Court of the Federal Capital Territory (FCT) Abuja claiming N200 million damages for the hardships the bank inflicted on them with the freezing.

In the suit with No. FCT/HC/CV/0657/2018 filed on their behalf by Yunus Abdulsalam, Image Merchants Promotion Limited and Yushau Shuaib are asking the court to declare that freezing of their account by the bank is unlawful and a clear breach of the duty of care owed them by the bank.

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They also prayed the Court to order the bank to unfreeze their accounts with the bank.

For those who don’t know, Image Merchants Promotion Limited and Yushau Shuaib are the publishers of Economic Confidential Magazine and PRNigeria, a public relations firm.

Be that as it may, Mr. Shuaib has cried out that: “The inexplicable freezing of my account has kept me struggling to meet up with my responsibilities as the breadwinner of my family thereby putting my four children, wife and aged parents in a state of avoidable hardship.”

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Furthermore, Image Merchants Promotion Limited squealed that: “Due to the inexplicable freezing of the accounts, the company has suffered the following catastrophic developments: Over 20 employees and volunteers in the payroll resigned their employment because of the inability of the company to access its salary account for the purpose of paying monthly salary; The company has also lost patronage as it can no longer advise clients to pay into the operational accounts knowing fully well no withdrawal could be made to execute the job of its clients.”