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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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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.
2022-09-04
The contributory pension scheme (CPS) is an arrangement whereby employees and employers are mandated to collectively contribute a percentage of an employee’s emolument from where the employee will be paid retirement benefits. The Scheme (CPS) was established by Section 3 of the Pension Reform Act, 2014 and is regulated by the National Pension Commission. The scheme guarantees protection of the pension assets as same survives the deceased, cannot be seized, sold or be granted as loan neither can same be used to satisfy a judgement debt.
2022-07-30
