The Federal Capital Territory (FCT) High Court has sealed off headquarters of First Bank, located at the Central Business District in Abuja.
The action, according to sources, has been taken as a result of the failure of the bank to comply with what is called “garnishee order,” which is one of the options open to a judgment creditor to enforce a judgment that has been made in his favour. It is a common way of enforcing a judgment debt and is solely used to enforce monetary judgments against a debtor to recover money.
Officials of the FCT High Court Enforcement Unit, today, August 4, stormed the bank (Coomasie) with towing vans and cranes and towed some of its valuables.
Our reporters said that items that were removed, are stand-by generators, Hilux vans and air conditioners and other valuables.
An official of the court, who spoke to our reporter on grounds of anonymity said: “ it is a long story, but it is all about a garnishee order against the bank which it didn’t comply with.”
Some staff of the bank, who reacted to the development, described it as embarrassing, saying that it could have been handled differently.
Most of the bank’s customers were seen in groups hanging outside the bank’s premises.