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Linacres vs Access Bank
This is a Banker-Customer dispute that commenced before the Federal Capital Territory High Court Coram: U.P Kekemeke.J wherein the claimant challenged the Post-No-Debit (PND) and/or Freezing Order placed on its account domiciled with the Bank without an Order of court. pleadings were filed and exchanged and the matter proceeded to trial.
The learned trial judge acceded to the claimant’s reliefs and entered judgment in a whooping sum of N20,000,000.00 (Twenty Million Naira) only as exemplary damages.
1. THE EFCC HAS NO POWER TO DIRECT A POST-NO-DEBIT ON A CUSTOMERS ACCOUNT WITHOUT A VALID ORDER OF COURT.
2. A BANKER OWES A CUSTOMER A FIDUCIARY DUTY TO DISCLOSE RELEVANT INFORMATION TO THE CUSTOMER PERTAINING HIS ACCOUNT.
3. FAILURE TO HONOUR A CUSTOMER’S CHEQUE WHEN THERE IS SUFFICIENT FUNDS IN THE CUSTOMERS ACCOUNT AMOUNTS TO NEGLIGENCE ON THE PART OF THE BANK AND ATTRACTS DAMAGES AT LARGE.
4. THIRD PARTY PROCEEDINGS ARE A DISTINCT INDEMNITY PROCEEDINGS BETWEEN THE DEFENDANT AND THE THIRD PARTY.
5. A BODY CREATED BY STATUTE MUST ACT WITHIN THE CONFINES OF THE STATUTE CREATING IT.
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