All the branches of Skye Bank in Osogbo have been stormed and sealed off by bailiffs as court orders immediate closure over damages.
Bailiffs from the Osun State High Court on Thursday stormed the four branches of Skye Bank Plc in Osogbo, the Osun State capital, sealed them and removed some valuable property to execute the order of the court gotten by Tuns Farms Nigeria Limited against the bank.
Punch reports that Tuns Farms Limited and other subsidiaries of Tuns company had gotten three separate court judgments against the bank totalling N3,991,150 .000 ( N3.9bn) and the judgments were affirmed by the Court of Appeal, Akure .
The company applied to the court and got the writ of attachment and sale against goods of judgment debtor (Skye Bank) and the order was executed with the sealing of the branches and removal of the bank’s property.
The bailiffs, who were escorted to the branches by heavily armed policemen drove out the bank officials, locked the doors and removed some property.
According to Punch, generators, vehicles, air conditioner and some items from the bank were removed and taken away by the court officials.
A private car said to be the property of the regional manager of the bank was spared after the manager pleaded with the bailiffs who had ordered that it be towed from the premises.
The sealing of the branches of the bank was a setback for many of its customers who were oblivious of the execution of the court judgment.
Many of them had come to the bank to make withdrawals but were disappointed when they saw that bailiffs and policemen had taken over the branches.
Tuns claimed in the writ of summon that the bank offered a credit facility of N414,000,000 to it and the offer was accepted with the plan to use the fund to develop its property in Abuja.
Tuns projected to earn a net income of N1.152bn from the project but the bank turned round and released only N150 million thereby breaching the contractual agreements entered with the company.