TStv Africa

TStv Africa
 



Karma they say it's a bitch, manifested itself when Ikenegbu branch of Fidelity Bank Plc Owerri were yesterday shut down on the orders of an Owerri State High Court over exhibition and demonstration of lawlessness and flagrant flaunting and violation of Court orders two weeks after same bank seek and obtained court orders to close down Titanic View Hotels Owerri,also in Owerri.

Court officials were reported to have invaded the Fidelity Bank branch domiciled in Ikenegbu Layout, Owerri Municipal and not only halted transactions but also sealed off the premises of the bank.

The bank had entered into agreement with a contractor understand to be doing a job with Imo State government; standing as a guarantor to the state government on credit facility , but the contractor was alleged to have finished his side of bargain and meet brick wall from state government, who could not pay through the bank as earlier agreement in concrete terms as paying bank offering a credit facility to an undisclosed amount. The contract after all efforts to get his money failed resort to court action and sued the bank and Imo State government, for violation of contractual agreement. After the court had ruled ordering the Ikenegbu branch to pay, having been in custody of state government account domiciled with the bank, the failure of the bank to take the court serious and in great violation, Ifeanyicy.com gathered necessitated the recent action of the court to close down the bank from operations.

You could recall, a fortnight ago, the management of Fidelity Bank Owerri, sought and obtained a court order which aided them to seal off the ever bubbling Titanic View Hotels situated at World Bank area of Owerri the Imo State capital for breach of loan agreement. Many observes are worried that same bank that sought and obtained a court order to close down another man's business could not adhere to a similar court issued against them. Maybe , according to the curious observe, the law of karma is into play.

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