An Abia State High Court sitting in Umuahia has adjourned the case between Dr Eke Agbai and First Bank of Nigeria Ltd. to March 26 and April 2 for the commencement of the hearing.
The case, marked HU/233/2024, centres on Dr Agbai’s claim that First Bank refused to release his fixed deposit of N550m, which he had lodged with the bank’s Abiriba branch to support its continued presence in the community.
During Tuesday’s proceedings, both parties were present in court The presiding judge, Justice U.D. Enwereji, subsequently adjourned the case to allow for a proper hearing and presentation of evidence.
She also directed that a formal subpoena be issued to key witnesses, including the former Group Managing Director of First Bank, Elder U.K. Eke, the current Managing Director, Olusegun Alebiosu, and the current manager of the bank’s Uzuakoli branch, among others, before its proper hearing on the 26th.
The plaintiff’s counsel, Mr Ebuka Nwaeze, described the situation as unfortunate, expressing concerns over how First Bank handled his client’s funds.
He explained that the dispute began in December 2023 when Dr Agbai returned from the United States and discovered N550m had been withdrawn from his account in Umuahia, even though he was in Abuja at the time.
Following this incident, Dr Agbai requested the liquidation of his fixed deposits, fearing they might also be compromised.
However, First Bank allegedly delayed the process, later claiming they could no longer trace the deposits in their system.
“As he pushed for the return of his funds, the bank’s deposit advisers started claiming that they could not trace his fixed deposits in their system.
“He wrote to the bank’s managing director and the Central Bank of Nigeria (CBN), but they kept saying they were investigating. That is why he had to bring the matter to court,” Nwaeze explained.
Nwaeze noted that it was the first time the defendant had appeared in court since the case commenced.
Speaking to newsmen after the court session, Dr Agbai described First Bank’s handling of the matter as deeply disappointing, stressing that his funds were initially deposited as a result of a direct appeal made by the then Group Managing Director, Elder U.K. Eke.
“I deposited this money over 10 years ago because First Bank reached out to some of us, the prominent sons of Abiriba, seeking financial support to prevent the closure of their branch.
