BREAKING: KUDA Microfinance Bank Sued Over Alleged Unlawful Freezing Of Accounts
A client of Kuda Microfinance Bank, Abdulrahman Ekundayo Multibusiness Global Enterprise, has dragged the bank before a Federal High Court Lagos, over alleged unlawful freezing of his account.
The client in the suit numbered FHC/L/CS/2230/2025, filed by it’s lawyer, Olalekan Ogunbunmi, said it’s action against Kuda Microfinance Bank is pursuant to Sections 66(B); 34; 35; 36; 41; 43 and 46 of the 1999, Constitution of the Federal Republic of NIGERIA (as amended), Order 2 Rules 1 – 4, Order 5 (1) and (2), and Order 6 Rule 1 of the Fundamental Rights Enforcement Procedure Rules 2009, and under court’s inherent jurisdiction.
In the suit, applicant is praying the court for the followings: “a declaration that the unlawful freezing of the Applicant’s account by the Respondent without court order or lawful excuse is illegal, wrongful, unlawful, unconstitutional as it violates the Applicants’ fundamental rights as guaranteed under section 34, 35, 36 and 41 of the 1999 constitution of the Federal Republic of Nigeria.
“An order of this Honourable Court directing and mandating the respondent to unfreeze the corporate accounts of the Applicant to wit: Bank Name: Kuda Microfinance Bank Limited Account No: 3001195269 Account Name: Abdulrahman Ekundayo Multibusiness Global Enterprise.
“An order of this Honourable court directing and mandating the respondent to release the sum of Four million, four hundred forty-four thousand, five hundred and forty naira (N4,444,540) held under lien on the 5th of July, 2025 till date to the Applicant.
“AN order of this honourable court directing and mandating the respondent to release the sum of Five hundred and two thousand naira (N502,100) only held under lien on the 8th of July, 2025 till date to the Applicant.
“An order of this Honourable court directing and mandating the respondent to release the sum of Two million, eight hundred and ninety-six thousand, six hundred and eighty naira (N2,896,680) only held under lien on the 15th of July, 2025 till date to the Applicant.
“An order of this Honourable Court directing and mandating the respondent to release all the funds held lien on the corporate account of the Applicant to”.
Parts of applicant’s grounds for the reliefs sought reads “that the applicant is a law-abiding citizen. And that it did not commit any offence known to the law.
“That the respondent has no lawful excuse or justification any threat of arrest, humiliation, and detention against the Applicants. And that the only offence of the Applicant was that he engaged on a legitimate transaction with proof of evidence and proof of transactions.
“That the restriction on the applicant’s account by the respondent without court order was without lawful excuse. And that the applicant has not committed any offence to warrant the treatment that was meted out to him.
“That the applicant did not commit any offence known to law to warrant the restriction placed on his account by the Respondent without just cause or court order.”
At the hearing of the suit today, lawyer to the applicant informed the court that all the processes have been served on the bank and they the bank was fully aware of the day’s proceedings.
However, the judge after perusing the court record observed that there was no proof of service in the court file.
The judge, while ordered that the hearing notice be issued and served on the bank, adjourned the matter to March 24, 2026, for report of service.
