Customers Cry To Court Over Polaris Bank Illegal Deductions of $30,769

They cleared out my account’ Women seek N10m from Polaris Bank over illegal deductions.

Three businesswomen have told the Surulere Magistrate Court in Lagos that their domiciliary and Naira accounts were unlawfully frozen by their bank, adding that it also allegedly made illegal deductions of $30,769 from the accounts.

The applicants – Adebomi Orogun, Kehinde Banjo, and Oluwatoyin Ode – in an originating application claimed that the bank froze their USD (US Dollar), Euro and Naira accounts without a valid court order.

They alleged that the bank proceeded to make unauthorised deductions from the accounts “without any justification whatsoever” adding that they were never accused of engaging in fraudulent activities with the said accounts.

In her affidavit in support of the application, the first applicant (Orogun) who maintained USD, Euro and Naira accounts with Polaris Bank, claimed that the bank usually deducts the requisite commission after every transaction she made.

According to her, “I recently wanted to transfer money with my Euro account, only to discover that I no longer have access to make any transaction.

“I also discovered that there was no available balance left in my USD account. I was confused and had to inquire with the bank to know the reason why I no longer have access to my Euro account and why my USD account was cleared out.

“However, I was informed by the Bank that they had not been deducting the proper commission per transaction on my account which they only commence later and ultimately led to my USD account being cleared out.
“On March 4, 2022, I was shocked to discover that all my accounts (USD, EURO and Naira) with the respondent (Polaris Bank) had been frozen and a post no debit order was placed on them.”
The two other applicants deposed to similar facts in their affidavit in support of the application, narrating to the court how the alleged act of the bank had caused them great discomfort and economic setback.
The applicants are, therefore, asking the court to give an order directing the bank to revert their accounts to the status quo as of 17th January 2022.
They are also asking for an order mandating the bank to pay them N10million as damages for the financial hardship caused to them by its actions.

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When the matter came up on Wednesday, the court said there was no proof that the respondent had been served.
The matter was thereafter adjourned till June 6, 2022.


Customers Cry To Court Over Polaris Bank Illegal Deductions of $30,769


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