Bank to Pay N3.2 Million Damages for Negligence

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Lagos State High Court Premises

Justice Adebayo Oyebanji of a Lagos High Court, Ikeja has awarded N3.2 million against First Bank of Nigeria Plc for unlawful withdrawals from the account of the claimant, Abiodun Foluso.

The claimant had filed the suit against the bank through his counsel, Malachy Ugwummadu alleging unlawful withdrawals on his account with the defendant.

The claimant in the suit marked LD/738/2012 prayed the court for a declaration that the defendant’s failure to investigate the theft of aggregate of N1, 207, 500 on May 2009 by unknown persons from his account without alerting him or stopping the transactions is unlawful and amounts to negligence.

The defendant therefore in the trial stated that all the withdrawal complained of by the claimant were conducted with the claimant’s ATM in consonance with the claimant’s mandate to the defendant via his ATM pin.

However, while delivering judgment, the court held that the defendant is guilty of negligence.

“Having found the claim of claimant succeed in part, judgment is entered in favour of the claimant against the defendant.

“The defendant shall pay claimant forthwith the sum of N1, 207,500 representing the total amount withdrawn from the claimant’s account which is yet to be refunded.

“It is hereby ordered that the interest rate of 21 percent per annum shall be paid on the judgment sum from the date of withdrawn of the respective sums till date.

“The claimant has pleaded and led evidence why general damages ought to be granted. In the circumstances of this case, the court is satisfied that the claimant is entitled to general damages. Accordingly, general damages of N2million is awarded in favour of the claimant,” the court held, adding that it would attract 10 percent post-judgment interest per annum until the judgment sum is liquidated.

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Source: The Guardian

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