AKIN KUPONIYI/Court Correspondent

A federal high court sitting in Lagos, south west Nigeria has ordered that the account of Zamfara state Government domiciled with Central Bank of Nigeria should be attached to satisfy a judgement debt of N741.8 million.

The order of the court was sequel to an application filed and argued before the court by Barrister Oluwakemi Balogun SAN.

First Bank Holdings

In an affidavit sworn to by a legal practitioner Mr Onah Marcellus,the Deponent averred that Ministry of Finance Zamfara state issued an irrevocable standing payment order (ISPO) for the payment of the sum of N308,200,00.in favour of the judgement creditor First Bank of Nigeria plc

Mr Onah averred further that the claim in this case was in the sum of N586,489,631.97 being the outstanding and now being claimed from the debtors.

Having regard to the letters of guarantee dated 22nd February,2008 issued by Zamfara state Hospital services management board in favour of Fist bank guaranteeing the monthly deduction of N17,122,222.22 for a period of 18 months under an irrevocable standing payment order and the subsequent reliance thereof the bank released the sum of N260 million to a limited liability company Al-Excel Nigeria limited to finance the purchase of 4000 units of CG125 Motorcyles for members of the Zamfara state Hospital services Management Board. therefore the hospital management board and Zamfara state Government are bound to pay the debt plus interest availed the company who has refused to make payment despite repeated demands

Consequently, the bank urged the court to enter judgement against the defendants jointly and severally in the sum of N586,489,631,97 plus interest at the rate of 18 percent per annum from 29th of April 2013, until judgement and thereafter at the same rate till the entire judgement is fully liquidated . On the 17th of October 2014 the court entered judgement jointly and severally against the judgement Debtors as per the claim of the bank.

By virtue of the judgement of the court. The judgement sum stood at N741,804,941.50 being the summation of the sum claimed and interest accrued thereon

However,the judgement sum is outstanding as the defendants have failed,refused and neglected to pay the judgement sum.

On 22nd October 2014 the bank filed an application praying for an order Nisi attaching the account of the defendants in various commercial banks in Nigeria to the extent of the judgement sum the order was granted by the court,but it was only Diamond bank that disclosed that Zamfara state Goverment maintains account with credit balance of N113,344.86 which was paid to the judgement creditor.

Consequently Mr Onah averred that Zamfara state goverment maintains accounts with Central bank wherein the monthly statutory allocation is paid will thereof partly satisfy or whoiiy satisfy the debt due under the judgement , therefore urge the court to grant the application to attach the account of the defendants maintain with Central bank of Nigeria as there is no other means to satisfying the judgement sum.

In his ruling the presiding judge Mohammed Yuunusa while adjourning till 24th of June,2015 for defendants and Central bank of Nigeria to show report of compliance granted the order attaching the funds in accounts maintained with CBN by the defendants.