Polaris Bank challenges court order against its managing director

Polaris Bank has approached the Niger State High Court in Minna, requesting the dismissal of a criminal charge brought against its Managing Director by the Niger State Internal Revenue Service.

The charge pertains to the bank’s alleged failure to supply certain information about customers who applied for foreign exchange through the bank. The bank in its application, through its lawyer, Usman Sule (SAN), raised a preliminary objection to the jurisdiction of the Niger State High Court to entertain the criminal charge filed against it, arguing that it is an abuse of court process.

It argued that the subject matter of the criminal charge in Minna is already a subject of litigation at the Federal High Court Abuja between 21 banks and 16 states of the federation in Suit No: FHC/ABJ/CS/120/2023 between Access Bank Plc & 20 Ors Vs Attorney General of Abia State & 15 Ors.

The bank argued that if the criminal charge in Minna is allowed to stand, the eventual judgment in the suit before Federal High Court Abuja would be rendered nugatory.

The Niger State Internal Revenue Service (NIRS) filed a First Information Report before a Minna High Court in case number NSHC/MN/18/24 against Polaris Bank and its MD for alleged failure to provide relevant information relating to tax by its customers.

The Court in Minna presided over by Justice Maimuna Abubakar had on Friday morning vacated the bench warrant issued for the arrest of the Branch Manager of Polaris Bank, Minna, while she retained that of the Managing Director, over alleged failure of the bank to release tax information.

Meanwhile, Justice Abubakar has adjourned the case to a date that will be communicated later to all the parties by the court.