A customer of Kuda Microfinance Bank, Abdulrahman Ekundayo of Ekundayo Multibusiness Global Enterprise, has sued the bank before the Federal High Court in Lagos over the alleged unlawful freezing of his corporate account.
In the suit marked FHC/L/CS/2230/2025, filed through his counsel, Olalekan Ogunbunmi, the applicant contends that the bank’s action violates his fundamental rights as guaranteed under the 1999 Constitution of Nigeria, citing Sections 66(B), 34, 35, 36, 41, 43 and 46, as well as relevant provisions of court rules.
Ekundayo is seeking several reliefs, including a declaration that the freezing of his account without a valid court order is illegal, unconstitutional and unlawful. He is also asking the court to compel the bank to immediately unfreeze the account.
In addition, the applicant urged the court to order the release of funds allegedly placed under lien by the bank, namely ₦4,444,540 on July 5, 2025; ₦502,100 on July 8, 2025; and ₦2,896,680 on July 15, 2025, along with any other sums in the corporate account affected by the restriction.
According to the grounds of the application, Ekundayo maintained that he is a law-abiding citizen and has not engaged in any unlawful activity that would justify the freezing of his account.
He further argued that the bank has no legal basis to threaten him with arrest or detention, stressing that the restriction placed on his account is unjustified given that the transactions carried out were legitimate.
At the hearing, Ogunbunmi informed the court that all necessary court processes had been served on the bank and that it was fully aware of the proceedings.
However, the presiding judge observed that proof of service was not reflected in the court file and consequently ordered that a hearing notice be issued and properly served on the defendant.
The court subsequently adjourned the matter to March 24 for a report on service.
