Walter Akpani, CEO of Providus Bank Limited, risks imprisonment due to the bank’s alleged non-compliance with a court order to unfreeze bank accounts belonging to Energen Oil and Gas Limited and Applause Global Services Nigeria Ltd. Three other banks are joined as defendants in the case.
Justice M. Savage of the Lagos State High Court issued a notice of consequences for disobedience to the court order, directing the four banks to immediately unfreeze the affected accounts. The court also restrained the respondents from placing any liens, restrictions, or post-no-debit orders on the applicants’ accounts without lawful justification.
The court’s order was issued after reviewing the original application. Failure to comply with the court’s directive may result in legal consequences, including potential imprisonment for Walter Akpani.