The Bayelsa State High Court sitting in Yenagoa has adjourned proceedings in a ₦68 billion lawsuit filed against Ecobank Plc by the Maize Growers, Processors and Marketers Association of Nigeria (MAGPMAN), Bayelsa chapter.

The association accuses the bank of making unauthorized deductions from its members’ accounts under the Central Bank of Nigeria’s (CBN) Anchor Borrowers’ Programme, a move they claim led to massive financial losses for hundreds of farmers.

Presiding judge, Justice Amaebi Orukari, ruled that all witnesses involved in the matter must appear in court on November 12, 2025. The judge warned that any witness absent on that date will be fined ₦500,000.

The claimants are expected to call four witnesses to support their allegations, while Ecobank’s defence team plans to present one witness.

Court filings indicate that the disputed transactions breached the CBN’s disbursement and repayment guidelines. Each of the 894 participating farmers was supposed to receive ₦182,461.02 and repay ₦198,862.04. However, deductions reportedly ranged between ₦205,000 and ₦400,000 — figures the association insists were never approved.