Court Orders Immediate Reopening of Taraba Microfinance Bank, Branches

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The Federal High Court, Jalingo Division has ordered the Taraba Police Command to immediately reopen all the branches of Taraba Microfinance Bank Ltd., pending the hearing and determination of the suit before the court.

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The Police has sealed the bank and all its branches three weeks ago following a disagreement between its management, directors and the state government.

The state command Spokesman, DSP David Misal has earlier told newsmen that the closure was “in compliance with an executive order issued by the state government”.

However, the managing director of the bank and members of the board of directors approached the court to compel the first defendant (Nigerian Police Force, Taraba State Command) and others to open the bank and its branches for full operation.

In the motion Ex-Parte issued by Justice Stephen Pam, on Wednesday, the court gave an “interim injunction compelling the first defendant (Nigerian Police Force, Taraba State Command) to immediately open the offices of Taraba Microfinance Bank Nigerian Ltd., lying and situated at Investment House, Jalingo and all the local government branches pending the hearing and determination of the motion on notice”.

News Agency of Nigeria (NAN) reports that Taraba Microfinance Bank has been an issue of multiple litigations following a botched sack of the bank’s managing director and dissolution of the board of directors by other vested interests in the state, thereby affecting the day to day operations of the institution and its viability.

Meanwhile, the Inspector General of Police has ordered the Secretary to the Taraba State Government, Mr. Anthony Jellason, the MD of Taraba Investment and Property Ltd., Mr. Illiya Ezikiel, and eight others to report to the Force Headquarters in Abuja on Jan. 13 in connection with the alleged invasion of the bank on Dec. 2, 2019, led by one Mr. Illiya Ezikiel.

The directors of the bank had earlier petitioned the Inspector General of Police over the role of Mr. Illiya Ezikiel and other government officials in a forced move to take over the management of the bank without recourse to the CBN laid down procedures.

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