A legal battle has emerged between a Kwara-based website/graphic designer, Abdulazeez Adewale Adekanye, trading under the name Sanctum Zeez Graphics, and Providus Bank Plc. The case, filed at the Federal High Court, Lagos Division, seeks redress over allegations of contractual breaches and rights violations by the bank.
According to court documents, the plaintiff, claims that Providus Bank unlawfully placed a Post No Debit (PND) restriction on his bank account without a court order. The restriction allegedly resulted in financial losses and infringed on his constitutional right to ownership of moveable property.
The lawsuit, identified as Suit No: FHC/L/CS/218/2025, presents several key legal questions, including whether the bank had the authority to impose an indefinite PND restriction without proper legal backing. Additionally, the plaintiff challenges Providus Bank’s justification for the restriction, which was reportedly linked to alleged inflows from accounts domiciled at Fairmoney Microfinance Bank on November 24, 2024.
In his claims, Adekanye is seeking a court declaration that Providus Bank owes him a fiduciary duty of care under the existing banker-customer relationship. He also seeks a ruling that the bank’s actions constituted a violation of his constitutional and property rights. The lawsuit further argues that a bank cannot impose an indefinite PND restriction without a properly instituted court order. The plaintiff is demanding that the restriction be lifted immediately and is requesting N50 million in damages, N20 million for breach of contract and N30 million for the violation of his rights, alongside N3 million to cover legal costs.
The lawsuit also challenges Providus Bank’s reliance on a 2015 circular from the Central Bank of Nigeria (CBN) as a basis for the restriction, arguing that the directive does not permit indefinite restrictions without due process. The case raises significant questions about the extent of banks’ authority in managing customer accounts and the legal boundaries of financial regulations.
Neither Providus Bank nor its legal representatives have publicly responded to the lawsuit as of press time.
