The High Court fines National Building Society (NBS) US$10,000 for contempt after ruling the institution refuses to surrender a US$5 million Treasury Bill despite an earlier court order to return it. The court finds NBS acted wilfully and in bad faith, concluding it did not comply with the order.
Justice Faith Mushure says NBS consciously decides not to follow the September 2025 order, according to reporting from the outlets. The fine is presented as a consequence of the alleged defiance and is linked to the dispute over the Treasury Bill’s custody and return.
Across the two sources, the core account is consistent: the same court, the same amount of the fine, the same basis for the ruling (contempt), and the same amount involved in the Treasury Bill. Both describe the court’s finding of intentional non-compliance, though neither provides additional details beyond the contempt determination and the ordered fine.
