DSS and Guaranty Trust Bank’s Alleged Collaboration to Freeze Omoyele Sowore’s Accounts Since 2019 Using Controversial Court Order

Guaranty Trust Bank (GTB) has provided new details in a legal filing to the Federal High Court in Lagos regarding its role in freezing the bank accounts of Omoyele Sowore, a well-known Nigerian activist and pro-democracy campaigner. This action, according to GTB, was carried out in collaboration with the Department of State Services (DSS) following Sowore’s controversial arrest by the DSS in August 2019.

In a counter-affidavit deposed by GTB’s official, John Okojie, the bank explained how it executed the freezing of Sowore’s accounts after receiving a court order from an Abuja Magistrate Court, dated October 17, 2019. This order, which GTB claims it was compelled to follow, instructed the bank to place Sowore’s accounts under a “Post-No-Debit” restriction. This move was based on allegations of treasonable felony and terrorism financing linked to Sowore, although the charges were later dismissed.

Despite the Federal High Court in Abuja striking out the charges against Sowore and his co-accused Olawale Bakare in February 2024, the DSS and GTB have continued to freeze Sowore’s accounts. This legal decision followed the Attorney-General of the Federation’s announcement to discontinue the case. Justice Emeka Nwite, who presided over the case, also ordered the return of all property seized by the DSS from Sowore and Bakare. However, despite the clearance of these charges, Sowore’s accounts have remained inaccessible.

In October 2024, Sowore filed a lawsuit against GTB in the Federal High Court, seeking N100 million in damages for the unlawful freezing of his accounts since 2019. His legal counsel, Inibehe Effiong, argues that this prolonged restriction has severely affected Sowore’s business operations and personal finances. Sowore, who opened his accounts with GTB in 2015, claims the bank froze his accounts without prior notice or a valid explanation. He states that this action constitutes a violation of his constitutional rights, particularly his right to property, and has caused him significant financial hardship.

Sowore’s legal team argues that the bank’s actions are unlawful, given that the charges against him were dismissed and no further legal basis exists to maintain the freeze. Effiong further emphasized that the prolonged account restrictions have caused Sowore severe emotional distress and financial loss, as he has been unable to access funds necessary for both personal and professional activities.

In GTB’s counter-affidavit, the bank’s compliance officer, John Okojie, explained the bank’s actions in detail. Okojie stated that the order to freeze Sowore’s accounts came from the DSS, which cited a court order issued on October 17, 2019. According to GTB, the order specifically instructed the bank to place Sowore’s accounts under a “Post-No-Debit” restriction due to the allegations of terrorism financing and treason. The bank’s official clarified that GTB acted under the legal mandate issued by the DSS and has adhered to all relevant regulations and directives from the Nigerian government.

The bank’s affidavit also indicates that it has not received any new instructions from the DSS or the Nigerian government to lift the restriction on Sowore’s accounts. In the absence of such instructions, GTB has maintained the freeze on his accounts, despite Sowore’s demands for its removal.

In the lawsuit, Sowore seeks the immediate unfreezing of his accounts and an award of N100 million as damages for the financial and emotional toll caused by the bank’s actions. He argues that the restrictions have caused substantial difficulty in managing his day-to-day affairs, including paying bills, and have resulted in him borrowing money to meet financial obligations. Sowore further claims that his legitimate business ventures have been significantly hindered due to the inability to access his funds.

Sowore also seeks a court order for a permanent injunction to prevent GTB from interfering with his accounts in the future, as well as compensation for the damage caused by the unlawful freezing of his assets. According to his legal counsel, despite several attempts to resolve the matter through written requests, including a demand letter sent in April 2024, GTB has failed to respond satisfactorily or lift the freeze on his accounts.

In addition to the claim for compensation, Sowore’s suit seeks an order directing GTB to unfreeze his accounts and provide compensation for the loss he has suffered due to the restrictions, which have left his accounts inaccessible for over four years.