NIGERIAN ARTISTES DECLARE WAR ON ACCESS BANK OVER SEIZED ROYALTIES

A group of Nigerian artistes with roots in the South Eastern part of the country have started mobilization under the name, Musicians Against Access Bank (MAAB) to battle Access Bank over the alleged unlawful seizure of artistes’ royalties entrusted to Access Bank by Copyright Society of Nigeria (COSON).

The brains behind MAAB have sworn to mobilize across the country to picket the branches of Access Bank and launch a major campaign to discourage depositors from having anything to do with the bank. Said one of their ringleaders who lives in Owerri, Imo State, “If they are distressed, they should let the whole world know. They cannot seize musicians’ money and expect that we will keep quiet. Musicians don’t keep quiet. When we finish with Access Bank, anyone who wants to mess with COSON will think twice about it”.

Another of the ring leaders who was making frantic telephone calls said, “Maybe Access Bank does not know what our royalties mean to us. That is our Christmas bonus. Government in Nigeria does not give any money to us. Last year, they blocked the Christmas bonus we get from COSON. Now they want to steal the money completely. Na lie!”

It will be recalled that Copyright Society of Nigeria, one of Africa’s foremost copyright collective management organizations for musical works and sound recordings, this week filed an action at the Federal High Court Lagos against Access Bank PLC claiming the sum of two billion naira for the unlawful freezing of the accounts of the society.

The suit No FHC/L/CS/1777/2019 which was filed on Tuesday, October 8 by Mr. James Ononiwu of the top Lagos law firm of Whitedove Solicitors is accompanied by a 40 paragraph Statement of Claim and 18 exhibits.

In the suit, COSON is asking for a declaration that the freezing of its accounts with Access Bank without any court order whatsoever is illegal, unlawful, null and void.

The organization which pays royalties to musicians across the country has also asked the Federal High Court for an order directing Access Bank to immediately unfreeze the Plaintiff’s accounts with the bank, frozen without any court order whatsoever and release all restrictions placed on the Plaintiff from running its accounts.

Beyond the unfreezing of its accounts, COSON is claiming a total of two billion naira as general and special damages as well as damages for the loss of reputation and goodwill arising from the deception of the Defendant and an order of perpetual injunction restraining the Defendant or the agents, privies or servants of the Defendant from further freezing the accounts of the Plaintiff or placing any restrictions on the accounts of the Plaintiff without a valid court order;

In its statement of claim, COSON stated that it has never borrowed money from Access Bank neither has it ever overdrawn from its account with the Bank and that as a result of the continued freezing of its accounts by Access Bank without any court order whatsoever, royalties due to the members and affiliates of COSON have been significantly unpaid causing tremendous consternation and instability within the Plaintiff.

Industry Police reports that the development has triggered a firestorm within the creative community on social media.