Human rights activist and former presidential candidate, Omoyele Sowore, has taken legal action against Guaranty Trust Bank (GTB), accusing the bank of unlawfully freezing his accounts. The accounts, which Sowore claims have been restricted since 2019, have caused significant financial hardship for him, and he is now seeking N100 million in compensation.
The lawsuit, filed by Sowore’s lawyer, Inibehe Effiong, at the Federal High Court in Lagos, accuses GTB of violating his fundamental right to property by freezing his accounts without any valid reason or prior notice.
The activist, who ran for president under the African Action Congress (AAC) in the 2019 election, opened these accounts in 2015. However, since 2019, they have been inaccessible, disrupting both his business activities and personal life.
In the legal documents, Sowore’s lawyer stated that the actions of the bank were illegal and a breach of Sowore’s rights.
Effiong said, “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 unfreeze the accounts immediately and compensate him for the damages caused by the restrictions.
According to Sowore, despite several attempts to resolve the matter, including formal complaints and a demand letter from his lawyer, the bank has refused to lift the restrictions. As a result, Sowore has been forced to borrow money to meet his daily financial needs, as he is unable to access his own funds.
The activist’s accounts, which include his current, savings, and debit card accounts, remain frozen. The lawsuit also seeks a court order to prevent the bank from unlawfully interfering with Sowore’s accounts in the future. In addition to the N100 million compensation for damages, Sowore is requesting that GTB cover the costs of the legal proceedings.
Sowore expressed his frustration in his statement, stating that the prolonged freeze on his accounts has not only caused financial difficulties but has also negatively impacted his business operations. He described the situation as both embarrassing and unjust, particularly given the bank’s refusal to provide any formal explanation for the restrictions.
The legal filing highlights the serious nature of Sowore’s claims. The court documents include a request for a declaration that GTB’s actions are unlawful and unconstitutional. Additionally, Sowore is asking for a perpetual injunction to stop the bank from interfering with his accounts moving forward.
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.”
