Owerri Court Awards $1m To Customer Over Bank’s Breach

By Innocent Osuoha
An Owerri High Court presided over by Honourable Justice F. I. Duruoha-Igwe has awarded the sum one million dollars to Mr Ezenwa Jahn Basil a customer of Stanbic IBTC Bank plc being general damages he suffered as a result of the closure of his domiciliary account without notice to him. The court also awarded the sum of fifty thousand naira as cost to the claimant.
Mr Ezenwa Jahn Basil through his counsel C.C Eluchie (Esq) and N.C Eluchie (mrs) had sued the Stanbic IBTC Bank plc defended by I.O Igboanugo Esq, Timothy Nwaneri Esq and Duru Ifeanyi Esq for the closure of his account having up to forty US Dollars in it without his consent or authority.
The claimant also urged the court to declare as a breach of contract, the conduct of the defendant in remitting the fund of 47,232.00 United State dollar to the remitter contrary to an earlier assurance to him that he could use the said account.
He also asked for the sum of five million US dollars as damages on account of the other two claims as they have caused him to lose a said contract and other business opportunities.
At the close of the case after both parties had exchanged fire works with relevant legal authorities and exhibits to prove their cases Hon Justice Duroha-Igwe on the 14th day of July, 2015 in suit No-How/626/2011 insisted that it was unlawful to close ones account under any guise without notice to the account holder adding that it is the obligation of a banker to its customer to give reasonable notice to the customer before closing the account or even terminating the relationship.
The judge also contended that when a contract is breached in the case of closing a domiciliary account without notice to the holder, the holder of the account is entitled to general damages.
Speaking to Trumpeta on the 14th day of July, 2015, the counsel for the claimant, C.C Eluchie Esq commended the presiding judge for taking the contentious issues on the points of law.
C.C Eluchie averred that the judgment would serve as a lesson to public institutions on the best ways to relate with their clients with a view to giving them a sense of belonging. The legal battle started on the day of November, 2011.

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Imo Trumpeta

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