WorldStage– Maize growers in Bayelsa State under the auspice of Maize Growers Processors and Marketers, Association of Nigeria (MAGPMA) Bayelsa Chapter are in court over alleged unauthorised withdrawals from their Ecobank accounts
State High Court 14 Yenagoa on Tuesday adjourned their case against and Ecobank Plc to Nov. 12, 2025 to enable the court to take all the witnesses at the pre-trial stage of the suit.
The farmers alleged that the bank made unauthorised withdrawals from their accounts, leading to financial losses to them.
The farmers are seeking redress for the alleged financial malfeasance.
The aggrieved farmers are seeking legal redress from Ecobank over the bank’s unsatisfactory handling of their accounts which exposed them to avoidable risks and losses.
When the case came up for hearing, the claimant’s Counsel Samuel Boulopremo, reminded the court that the case is for presentation of four witnesses who are present in court.
He said that the defendant’s counsel is not filing any other process for amendment, before the opening of the case.
On his part the defense counsel Theo Osanakpo, said they have one witness to present and suggested November 12, 2025 to take the witnesses.
The court presided over by Justice Amaebi Orukari, ruled that all parties witnesses must be in court or be fine N500,000 for absence.
The judge thereafter adjourned the case until Nov. 12, 2025.
According to the court summons document sighted by the NAN, the farmers accounts domiciled with the Bank on the Anchor Borrower Program of the Central Bank of Nigeria (CBN) was run in breach of the CBN’s rules for the scheme.
The farmers are seeking a cumulative general and punitive damage of N68 billion.
MAGPMAN Bayelsa state chapter in their grouse before the court, lamented that the fraud allegedly perpetrated by the commercial bank has left them with no choice than to seek redress, since the bank (Ecobank) refuse to listen to us in a way we will have resolved the issue.
Under the scheme, each of the 894 members of the group will get N182,461.02 and is expected to pay back N198,862.04 at the end of the loan tenor, but Ecobank as we speak is even deducting N400,000, N300,000 and N205,000 as the case may be from the poor farmers.
