GT Bank Appeals To Overturn N5.3 Billion Judgement

Guarantee Trust Bank has filled a suit to appeal the judgement of Justice Valentine Ashi of the High Court of the Federal Capital Territory, Abuja, ordering Guarantee Trust Bank to pay the sum of N5,240,516,186.21 to an Abuja- based lawyer, Dr Ted Edward.

In the notice of appeal filed on it’s behalf by its counsel, Chief Anthony Idigbe,SAN, before the Abuja division of the Appeal Court, is praying the court to set aside the judgement of the lower court made on Monday May 18, 2015.

GTB is also demanding for an order remitting the matter with suit no, FCT /HC/CV/939/15 to the Chief Judge of the Federal Capital Territory for transfer to another judge of the FCT, Abuja for retrial.

Recently, NAIRAMETRICS reported that Justice Ashi had in a judgement in a suit filed by Dr Ted Isegholi Edwards against the Central Bank of Nigeria, and some others, ordered GT Bank to pay the plaintiff, Dr Edwards, the sum of N5,240,516,186.21, for debiting the Plaintiff’s account without his consent.

Others affected by the order are: Jonah Otunla, the Accountant General of the Federation, Ambassador Bashir Yaguda, Minister of State for Finance, GT Bank, Anaocha Local council in Anambra State and Incorporated Trustees of Association of Local Government of Nigeria (ALGON).

The judge, who struck out all the other defendants apart from GTB Bank for lack of jurisdiction, ordered the bank to pay 21 per cent interest per annum on the judgment sum at the prevailing interest rate whichever is higher calculated from 12th December, 2014 up till date of judgment as well as post judgment interest of 10 per cent from date of judgment until the judgment sum is liquidated.