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UBA vs Vertex Agro
This is banker-customer dispute, wherein the Respondent as plaintiff at the trial court took out a Writ of Summons before the Niger State High Court, Coram; Honourable Justice Mariyam Ismaila J. complaining of the negligent conduct of the bank in the handling of his account in an online transaction, which amounted to a breach of it’s duty of care and fiduciary duty.
The matter proceeded on trial whereinafter the trial court acceded to the claims and found in favour of the plaintiff (Respondent herein). On appeal to the court of appeal, Abuja Division Court, the judgment of the trial court was affirmed substantially save for the award of cost of Solicitors’ Fees which was reversed by the court of appeal.
1. EXCLUSION CLAUSES EMBODIED IN FINE PRINTS OF A CONTRACT ARE NOT AT
LARGE TO EXCULPATE A BANKER’S LIABILITY IN ONLINE TRANSACTION.
2. CBN PRUDENTIAL GUIDELINES FOR DEPOSIT MONEY BANK IS A LEGAL
INSTRUMENT THAT REGULATES ONLINE TRANSACTIONS
3. CBN PRUDENTIAL GUIDELINE BEING A LAW IN ITSELF NEED NOT BE PLEADED
TO BE RELIED UPON BY A PARTY.
4. SOLICITOR'S FEES CANNOT BE CLAIMED AS SPECIAL DAMAGES.
5. A CONTRACT FOR ONLINE TRANSACTION CANNOT BE VARIED
UNILATERALLY, THERE MUST BE CONSENSUS BETWEEN THE PARTIES.
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Diverse countries have implemented competition laws and created pro-competitive policies to fulfill the varied requirements of society, as the effect of an anti-competitive regime has far-reaching consequences on society. This article gives an insight on the role of the Federal Competition and Consumer Protection Commission (FCCPC) in the regulation of sale of goods in Nigeria. The focal point is to examine the Commission's mandate, which includes fostering fair competition, protecting consumers' rights and enforcing compliance with relevant laws and regulations while also noting the challenges the FCCPC is faced with in carrying out its mission. Special considerations will be had to competition laws in Nigeria as well as competition laws in other jurisdiction.
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