Providus Bank CEO, Walter Akpani, risks jail term

Walter Akpani, the chief executive officer of Providus Bank Limited, may be committed to prison over the bank’s alleged refusal to unfreeze bank accounts belonging to Energen Oil and Gas Limited and Applause Global Services Nig, Ltd.

Joined defendants alongside Providus Bank Limited are three other banks.

In a notice of consequences of disobedience to order of court, Justice M. Savage of the Lagos State High Court ordered the four banks to immediately unfreeze bank accounts belonging to Energen Oil and Gas Limited and Applause Global Services Nig, Ltd.

The court further restrained the respondents either by themselves, any officers or privies, however, so called from placing a lien, restriction and / or post no debit on any of the applicants accounts domiciled with any of the respondents without any lawful justification.

The court gave the order upon reading the originating motion on notice dated June 25, 2024.
After hearing counsel appearing for the applicant, Abayomi Alagbada, move the application, the court ordered the respondents to immediately lift the lien/restriction/Post-No-Debit and accordingly allow the applicants to operate and have full access to their bank accounts, namely: Account No. 1305009826, Energen Oil and Gas Ltd, Providus Bank Ltd and others.

Specifically, the court ordered the bank to immediately allow the applicants’ beneficiaries, to wit: Fadima Talo Global Enterprise, 5400875119, Providus Bank Ltd; Noorie Global Multi-Trade, 5401867467, Providus Bank Lid.