The Abuja division of the Court of Appeal has instructed First City Monument Bank (FCMB) to pay the N540 million damages imposed on it by the Federal Capital Territory (FCT) High Court for defaming cleric Prophet Emmanuel Omale and his wife, Deborah.
Justice Yusuf Halilu of the FCT High Court had ruled on October 4, 2022, that FCMB negligently violated its duty of care by falsely claiming that the former chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu, deposited N573 million into the church’s account.
The appellate court, in a ruling dated February 1, 2024, and obtained by the media on Sunday, rejected FCMB’s request for a stay of execution but granted a conditional stay. The bank was ordered to pay the N540 million judgment sum into an interest-yielding account in the name of the court’s chief registrar within 48 hours.
The court adjourned further hearing to a date to be communicated to the parties by the court’s registry.
