

By Correspondent in Abuja.
The Federal High Court in Abuja has ordered United Bank for Africa Plc (UBA) to pay ₦30 million in damages and refund $163,592 to Micoz Bluelink Enterprise for unlawfully restricting the firm’s account for over a year.
Justice Peter Lifu, in a judgment delivered on July 25 and made available on Wednesday in Abuja, held that the bank acted without legal basis when it froze the company’s domiciliary account and transferred funds without a court order or notifying the customer.
Describing UBA’s conduct as “a breach of the banker-customer relationship,” Justice Lifu added that the bank’s action was ultra vires, reckless, and without compassion.
The plaintiff, Akpasi Oziegbe, trading as Micoz Bluelink Enterprise, had filed suit number FHC/ABJ/CS/1412/2023 against UBA, alleging that the bank restricted the account—containing $163,825.58—since July 20, 2022, without explanation.
Through his legal team, Chikaosolu Ojukwu, SAN, and Adeyemo Richard, Oziegbe said repeated enquiries to the bank yielded no response.
He further alleged that on August 19, 2023, UBA transferred the funds without his company’s consent.
UBA, represented by counsel Kalat Jatau, admitted receiving the funds but claimed they were flagged as suspicious.
The bank said it filed a Suspicious Transaction Report with the Nigerian Financial Intelligence Unit (NFIU), restricted the account pending enhanced due diligence, and eventually recalled the funds following a SWIFT instruction from its correspondent bank, Citi Bank.
However, Justice Lifu said he
found UBA’s evidence defective, noting that its own Exhibit ‘A’ made no mention of fraud but only stated “Possible Duplicate,” which did not justify a call-back.
He ruled that the bank failed to provide proof of any legal or procedural step taken before restricting the account or withdrawing the funds, nor did it disclose the final destination of the money.
“The bank failed to inform the applicant of reasons for the restriction and proceeded with unilateral withdrawal, thereby breaching the banker-customer contract,” the judge held.
Justice Lifu stressed that customer funds can only be withdrawn upon the customer’s explicit instruction or a court order,neither of which was presented in this case.
Taking into account the plaintiff’s status, the economic loss suffered, and the depreciation of the naira, the court awarded ₦30 million in damages with post-judgment interest of 10% until the sum is fully paid.
The judge also ordered UBA to reverse the $163,592 withdrawal and restore the funds to the plaintiff’s account.
Edited by Dada Ahmed.