Musicians storm Access Bank, demand immediate release of COSON’s money

Nigerian musicians have drawn a battle line with one of the country’s biggest deposit banks, Access Bank, following the latter’s alleged defiance to obey an order of the court to remove the freeze on the bank account of the Copyright Society of Nigeria (COSON).

Justice Yellin S. Bogoro of the Federal High Court, Lagos, had on May 4, 2022 restrained Access Bank from further freezing the accounts of COSON, the Plaintiff, or placing any restriction on the society’s accounts without a valid court order.

Justice Bogoro gave the order in a suit No. FHC/L/CS/1777/19, brought by Copyright Society of Nigeria (COSON) against Access Bank, in October 2019.

COSON had sought the court’s intervention to declare the freezing of its accounts with the defunct Diamond Bank, now known as Access Bank, without a court order as illegal, unlawful and void.

Besides, the intellectual property administrator for musical rights owners also requested the court to among other reliefs, order Access Bank to unfreeze its bank accounts and release all restrictions against it from operating the accounts.

READ: B-R-E-A-K-I-N-G: COSON slams N2 billion suit against Access Bank

The court further awarded the following damages against Access Bank in favour of COSON: N10 million as general damages for the illegal and unlawful freezing of the accounts; N50 million as special damages for the illegal and unlawful freezing of the accounts; N10 million for the loss of reputation and goodwill arising from the unlawful freezing of the accounts; an order of injunction restraining the Defendant or its agents, privies or servants from further freezing the accounts of the Plaintiff or placing any restriction on the accounts of the Plaintiff without a valid court order.

Finally, the court awarded a N100,000 cost in favour of COSON.

Having waited for close to a month after the judgment with Access Bank not complying with the order of the court, the musicians, who are members of COSON, decided to force the hand of the bank to comply.

The first salvo in the ensuing war was fired at an Access Bank branch in Ikeja, which became an arena for musical protest, as musicians stormed the bank’s premises demanding that their money which has been unlawfully held by the bank for the past four years be released.