A Federal High Court, in Lagos has discharged 22 banks from a garnishee proceeding filed by Glonik Industries limited and Glonik Hotels limited, against the Nigeria National Petroleum Company Limited (NNPC), and its sister company, Pipeline and Products Marketing Ltd (PPMC) on a N4, 705,139,686.78 judgement debt.

The court presided over by Justice Ambrose Lewis-Allagoa had in a judgement delivered on May 16, 2023, in suit number FHC/L/CS/794/2020 filed by Glonik Industries limited and Glonik Hotels limited, ordered NNPC and PPMC to pay N4, 705,139,686.78 for the demolition of hotel building situated at number 33, Wamom Taofeek Street, New Okoba, Lagos belonging to the Plaintiffs.

Following the judgement, Justice Lewis-Allagoa also in a garnishee proceeding attached the judgement sum in 23 banks and directed them to show cause why the sums standing to the judgement debtors’ credit in it various accounts should not be attached to satisfy the judgement debt.

The court directed that all debts due or sums accruing from the Garishness to the judgement debtors be attached to answer a judgment secured against the debtors for payment of N4,705,139,686.78.

The court also granted an order attaching the funds in the garnishees’ possession standing to the credit of the judgment debtors to pay the debt or monetary sums due from the garnishees to the judgment creditors in satisfaction of the judgment sum.

Justice Allagoa also directed the named garnishees to appear in court to show to show cause as to why they should not pay to the judgment creditors the judgment sum from the monetary sums due from the garnishees to the judgment debtors, in satisfaction of the judgment debt.

But, when the matter came up, counsel to the judgement debtor, Mr. Wale Akoni, in an application urged the court to vary the garnishee order, and limit was to the 6th garnishee (Fist Bank of Nigeria Limited), submitting that the funds in the bank was enough to satisfy the judgement sum.

Consequently, he urged the court to discharge other 22 garnishees to enable the defendants carry out their businesses.