The lawsuit, filed by his lawyer, Inibehe Effiong, at the Federal High Court in Lagos, accuses GTB of freezing Sowore’s accounts without valid justification or prior notice.
Sowore, a former presidential candidate of the African Action Congress (AAC), opened the accounts in 2015.
He alleged that since 2019, the restrictions on his accounts have caused him significant financial hardship, disrupting his business activities and day-to-day life.
Effiong described the account freezing as unlawful, stating, “The arbitrary freezing of my client’s accounts without due process is not only illegal but also a blatant violation of his fundamental rights.”
Sowore is demanding that GTB immediately unfreeze his accounts and pay N100 million in compensation for the damages caused.
He emphasized that despite multiple complaints and a formal demand letter, the bank has refused to lift the restrictions, leaving him unable to access his funds and forcing him to borrow money to cover his expenses.
The lawsuit outlines that Sowore’s accounts, including his current, savings, and debit card accounts, have been inaccessible since 2019.
The activist is also seeking a court order to prevent GTB from unlawfully interfering with his accounts in the future and to cover the costs of the legal proceedings.
In his statement, Sowore expressed frustration over GTB’s lack of response and the financial embarrassment caused by the restrictions.
He added that the prolonged freeze on his accounts has severely impacted his business operations and personal life.
The charge read, “A Declaration that the Respondent’s act of freezing and restricting the Applicant’s accounts with Account Numbers: (1) 0169510647 (Current Account); (2) 0169510867 (Savings Account); (3) 0169510850 (Current Account); (4) 0171422811 (Master Card/Visa Debit Account Type) and Account Name: Sowore Omoyele Stephen respectively, all domiciled with the Respondent; Guaranty Trust Bank Ltd is unlawful, unconstitutional, null and void and a breach of the Applicant’s right to property guaranteed by the provisions of Section 44 of the Constitution of the Federal Republic of Nigeria, 1999 (as amended) and Article 14 of the African Charter of Human and Peoples Rights (Ratification And Enforcement) Act LFN 2010.
“An Order of this Honourable Court directing the Respondent to lift the restriction placed on the Applicant’s accounts with Account Numbers: (1) 0169510647 (Current Account); (2) 0169510867 (Savings Account); (3) 0169510850 (Current Account); (4) 0171422811 (Master Card/Visa Debit Account Type) and Account Name: Sowore Omoyele Stephen respectively, all domiciled with the Respondent; Guaranty Trust Bank Ltd.
“An Order of perpetual injunction restraining the Respondent whether by itself, its agents, privies/ or servants from unlawfully interfering with the Applicant’s accounts with Account Numbers: (1) 0169510647 (Current Account); (2) 0169510867 (Savings Account); (3) 0169510850 (Current Account); (4) 0171422811 (Master Card/Visa Debit Account Type) and Account Name: Sowore Omoyele Stephen respectively, all domiciled with the Respondent; Guaranty Trust Bank Ltd.
“An Order of this Honourable Court mandating the Respondent to pay to the Applicant the sum of 100,000,000.00 (One Hundred Million Naira) as general damages for the unlawful freezing of the Applicant’s accounts with Account Numbers: (1) 0169510647 (Current Account); (2) 0169510867 (Savings Account); (3) 0169510850 (Current Account); (4) 0171422811 (Mater Card/Visa Debit Account Type) and Account Name: Sowore Omoyele Stephen respectively, all domiciled with the Respondent; Guaranty Trust Bank Ltd.
“An Order of this Honourable Court mandating the Respondent to pay to the Applicant the cost of prosecuting the instant suit.
“And any other order(s) as the Honourable Court may deem fit to make in the circumstance of the case.
“I state for a fact that for years, specifically since 2019, all of the above-listed accounts which I opened with the Respondent have remained frozen, rendered inaccessible and inoperable by the Respondent.
“Up to date, the Respondent has not offered me any satisfactory and formal explanation in respect of the restriction it placed on my accounts.
“I have lodged several complaints yet the Respondent has refused to lift the restrictions placed on my accounts.
“I state for a fact that through my Solicitor, Iboroabasi Ntong, Esq. of Inibehe Effiong Chambers, I wrote a demand letter demanding that the Respondent lift the restrictions placed on my accounts and pay me compensation for the prolonged restrictions placed on my accounts which have incapacitated me from carrying out banking transactions and impeded my legitimate businesses and affairs.
“The demand letter is dated 23rd April, 2024, and it was duly served on the Respondent.”
The case is expected to proceed at the Federal High Court, with Sowore seeking both financial restitution and the restoration of his banking privileges.