Society Gists

PRO International Concept, a limited liability company, has filed an application at the Federal High Court in Lagos seeking to commit several bank managing directors to prison for contempt of court.

The respondents named in the suit included Mr. Moruf Abiola Oseni, Managing Director of Wema Bank Plc; Mr. Babatunde Olofin, Managing Director of Moniepoint Microfinance Bank; Mr. Musty Mustapha, Managing Director of Kuda Microfinance Bank; and Mr. Henry Obiekea, Managing Director of Fairmoney Microfinance Bank.

Others are Mr. Chika Nwosu, Managing Director of Palmpay Limited, and Mr. Daudu Gotring Wuritka, Managing Director of Opay Digital Services Limited.

The company alleged that the individuals willfully disobeyed court orders issued on November 21, 2024, in connection with a fraud case involving the unauthorised withdrawal of N95 million from its bank account.

PRO International Concept is urging the court to compel the respondents to appear and show cause why they should not be jailed for defying the court’s orders.

In an affidavit deposed to by Omotayo Adebayo, litigation manager at the law firm representing the company, stated that the company’s operational bank account was hacked on September 5, 2024.

The breach allegedly led to the fraudulent transfer of N95 million, which was subsequently split and moved across multiple accounts in nine banks.

The company immediately alerted the relevant bank officers, who then sent “Block and Recall” requests to the fraud desks of 28 financial institutions.

While the funds were temporarily frozen, the institutions required a court order to maintain the freeze beyond 72 hours.

On September 9, 2024, PRO International Concept secured a court order from a district court in Nasarawa State to extend the freeze.

The current suit was subsequently filed at the Federal High Court.

On November 21, 2024, the Federal High Court ordered that the frozen funds be reversed to the company’s account and directed further investigations, including the placement of liens on the respondents’ accounts.

Despite these clear directives and proper service by court bailiffs, the respondents allegedly refused to comply or reverse the funds.

With no alternative, PRO International Concept has now commenced contempt proceedings, seeking the immediate imprisonment of the respondents to compel compliance and uphold the authority of the court.

Justice Chukwujekwu Aneke has fixed July 3 for the hearing of the contempt application.”