On Tuesday, the Federal High Court, Abuja gave an order freezing all the bank accounts of the Medical and Health Workers Union Kankara branch, Katsina state over its failure to pay its N47,012, 567.19 outstanding debt owed Access Bank Plc.
The order was delivered by Justice Inyang Ekwo based on an ex-parte motion filed by the Asset Management Corporation of Nigeria (AMCON) against the union and the Kankara Local Government Council, Katsina State.
In AMCON’s affidavit in support of the motion ex-parte seen by Nairametrics, its staff, Adanna Ilomuanya, maintained that the defendant’s loan is one of the eligible financial assets it acquired from the then Intercontinental Bank PLC (now Access Bank) for recovery.
She contended in the suit marked FHC/ABJ/AMC/04/2024, that despite the notices and demands from AMCON and the bank, the defendants have refused to repay their outstanding indebtedness.
She stated,
“The 1st Defendant applied for a loan vide a letter dated 15 of February 2007 together with minutes of meeting of its resolution to obtain the loan facility for its workers and was granted a N43,500,000.00 (Forty-Three Million, Five Hundred Thousand Naira) loan for disbursement to its members(workers) as Agric loans in 2007 by the then Intercontinental Bank PLC (now Access Bank PLC) vide an offer and acceptance letter dated 26 February 2007.
AMOCON’s lawyer, Barrister Val. Igboanusi, further submitted that his request should be granted because the federal government is using taxpayers’ money to bail out the banks from toxic debts which the respondent’s debt is allegedly one of them.
He added that if the court does not grant the interim order, the union will never pay its debt.
He then prayed for the following orders,
At the resumed proceedings on Tuesday, AMCON’s case against the union was heard at Justice Inyang Ekwo’s chambers.
Nairametrics sighted the typed-out order of the judge.
Ekwo agreed with the submissions of AMCON and granted its requests.
The judge held,