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NIGERIAN BANKING & FINANCE LAW JUDGMENTS [POLICY, PRACTICE, & PUBLISHING LAW REPORTS]

Asset Protection - Capital Markets & Securities - Corporate & Project Finance - Offshore Accounts - Private Equity & Public Finance    Trade Investment & Venture Capital - Money Laundering & Corruption Cases

TITLE

MAIN ISSUES

A.C.B. LTD.  V. OBA

BANKING AND FINANCE LAW:- Admissibility of Bank’s statement of account- Conditions precedent to admissibility of - Section 97 (2) (e) Evidence Act, 1990 -Requirement of

BANKING AND FINANCE:- Admissibility - Secondary evidence of a Banker’s book-Admissibility of - Principles governing -Section 97 (1) (h), & (2) (e) Evidence Act, 1990 - Application thereof

A.C.B. LTD. V. BABAYEMI (HC)

 

ADEJUWON V. CO OPERATIVE BANK LIMITED(CA)

BANKING AND FINANCE LAW:‑ Combination of accounts ‑ Right of Banker to combine customer’s accounts – Validity of- Limitation thereto

BANKING AND FINANCE LAW:‑ Combination of accounts ‑ Transfer of money from one customer’s account to another’s account ‑ Failure to obtain customer’s consent ‑ Whether vitiates transfer

ADEPATE V. BABATUNDE AND ANOR.

BANKING AND FINANCE LAW:- Banking practice – Recovery of credit facility – How treated

ADERETI V. ATTORNEY GENERAL, WESTERN NIGERIA

BANKING AND FINANCE:- Banking practices - Loan - Overdraft – Meaning of

ADEROGBA V. THE QUEEN

 

ADEROUNGBOYE V. N.B.N. LTD

MONEY LENDER:- Bank - Whether a money-lender

ADIATU LADUNNI & ANOR. V. WEMA BANK LIMITED & ANOR. - COPY

BANKING AND FINANCE LAW:-

AEROFLOT SOVIET AIRLINES V. UNITED BANK FOR AFRICA LTD

BANKING AND FINANCE LAW:- Acknowledgment of deposit by customer - Sufficiency of tellers purportedly stamped and initialled by or on behalf of Bank - Negligence not an essential element in action for money had and received - Only part of the trial court’s findings considered on appeal

AFORKA  V. AFRICA CONTINENTAL BANK NIG. LTD

BANKING AND FINANCE LAW:- Right of a bank to charge interest on overdraft – Effect

AFRIBANK  NIG. PLC. V. SYLVESTER ONYIMA

BANKING AND FINANCE LAW:- Banker-customer relationship - Where customer draws cheque in excess of his deposit - Effect of - How treated- Whether amounts to a crime

AFRICAN CONTINENTAL BANK LTD. CALABAR V. JOSEPHAT O.E. AGBANYIM

BANKING & FINANCE LAW:- Banking Practice- Bank Manager as general agent - Liability of bank for manager’s fraud

AFRICAN CONTINENTAL BANK LTD. V. ATTORNEY GENERAL OF NORTHERN NIGERIA

BANKING AND FINANCE LAW:- Customer operating account in fictitious name - Banker in good faith receiving payment on behalf of cheques fraudulently obtained - Drawer of cheques suing bank for negligence - Duty of care; concept - Bills of Exchange Act (Cap. 21), Section 82; (Bills of Exchange Act, 1964 Section 2) - Distinction between negligence as ground of action and as special defence under section 82 to action for conversion

AGBONMAGBE BANK LTD V. C.F.A.O.

BANKING AND FINANCE LAW:- Delay in returning dishonoured cheque by Bank – Effect

BANKING AND FINANCE LAW:- Negligence of Bank - Duty of care to non-customer - Whether banker can be liable to non-customer

BANKING AND FINANCE LAW:- Payee of a cheque - Whether banker liable thereto for non-pay­ment of cheque

AHMADU DAN YAMUSA V.  P.O OKOLO

BANKING AND FINANCE LAW:- Branch manager of bank - Status of - Action of - Whether binding on bank

BANKING AND FINANCE LAW:- Banking practices - Cheque drawn by customer on his bank- Who retains custody thereof after clearance – Legal implications

AIC LIMITED V. THE FEDERAL GOVERNMENT OF NIGERIA

BANKING AND FINANCE LAW:- Whether money in a bank account of a central bank [as a separate legal entity, belonging beneficially to the government of its state] are liable to execution if those moneys are used or intended for use for commercial purposes.

AKILU  V. FAWEHINMI (CA2)

BANKING AND FINANCE LAW:– Documentary credit – Set-off – Claim by beneficiary of letter of credit – Whether bank can maintain set-off in answer to claim by beneficiary of letter of credit

ALHAJI MOHAMMED MMAMMAN V. FEDERAL REPUBLIC OF NIGERIA

BANKING AND FINANCE LAW:- Banking practices – When can be basis for a criminal charge - Grant of unauthorised credit facility - What prosecution must establish in a charge under section 18(1) (b) of BOFID

ALHAJI MURIANA ADESOLA KAREEM

BANKING AND FINANCE LAW:- Banker - Duty thereon to be cautious in making payments on customer’s account - Rationale

BANKING AND FINANCE LAW:– Banker/customer relationship - When banker may be liable for negligence to its customer

BANKING AND FINANCE LAW:- Banker - Whether may be liable for negligence to a non-customer.

ALIMS NIGERIA LIMITED V. UNITED BANK FOR AFRICA PLC

BANKING AND FINANCE LAW:- Banking practices – recovery of debt –Refusal to release title deed of property used as security for loan after satisfaction of same  – Attitude of court thereto

ALLIED BANK OF (NIG) LTD V. AKUBUEZE(CA)

BANKING AAND FINANCE LAW:-Banker/Customer relationship - Nature of -Guide to interpretation of

BANKING AND FINANCE LAW:– Banker/Customer relationship - Nature of - When it turns to Debtor/Creditor relationship

BANKING AND FINANCE LAW:-Banker/Customer relationship - Nature of- Wrongful dishonour by banker of customer’s cheque - Exemplary damages - Whether irrecoverable therefor

BANKING AND FINANCE LAW:- Cheque - Cheque issued by customer - Obligation on banker to honour same - Where banker refuses its obligation – Effect

ANYAKWO V. A.C.B. LTD

BANKING AND FINANCE LAW:- Banking - Claims for money lent - Liability denied - Counter-claim - Special and General Damages for breach of contract -Witness for plaintiff knowing very little about case - Plaintiff non-suited

APENE V. BARCLAYS BANK OF NIGERIA AND ANOTHER

BANKING AND FINANCE LAW:- Overdraft facilities - Legal Mortgage of Property - Power of Sale under Mortgage Deed exercised - Writ of Summons to set aside sale - Issue of validity of Mortgage Deed raised for first time – How treated

AREWA PAPER CONVERTERS LTD V. N.D.I.C. (NIG. UNIVERSAL BANK LTD.)

BANKING AND FINANCE LAW: Banking practices – Recovery of loan due but unpaid – How treated

ASHUBIOJO V. AFRICAN CONTINENTAL BANK

BANKING AND FINANCE

ASSOCIATED DISCOUNT HOUSE  LTD. V. AMALGAMATED TRUSTEES LTD

BANKING AND FINANCE LAW:- Discount houses - Status of - Whether discount houses come under definition of financial institution defined in Banks and Other Financial Institutions Act

ASTRO EXITO NAVEGACION SA V. SOUTHLAND ENTERPRISE CO LTD AND ANOTHER

BANKING AND FINANCE:- Financing of a contract of sale – Duty to honour instruments – Letter of Credit in payment of purchase price – Failure of buyer to counter-sign Notice of readiness as required by terms of letter of credit – Whether entitles bank to refuse payment – Jurisdiction of Court to order buyer to sign notice of readiness by certain date failing which notice to be signed by Master –Whether notice of readiness executed by Master binding on parties other than buyer and seller – Whether bank obliged to accept notice of readiness countersigned by Master

AMALGAMATED INVESTMENT AND PROPERTY CO LTD (IN LIQUIDAZION) V. TEXAS COMMERCE INTERNATIONAL BANK LTD

BANKING AND FINANCE LAW:- Banking practices – Two separate loan grants – Primary debtor acting as guarantor for subsidiary company abroad – Use of off-the-shelf entities or nominees abroad to grant loans guaranteed at home by way of property – Whether bank can appropriate surplus funds from sale of asset used as security by primary debtor to offset liability as guarantor due to shortfall from sale of assets of the nominee company

AUTO IMPORT EXPORT V. ADEBAYO

BANKING AND FINANCE LAW - BILLS OF EXCHANGE:- Bills of exchange in Nigeria – Applicable law - Bills which carry endorsement “without recourse” - Legal status of

BANKING AND FINANCE LAW - BILLS OF EXCHANGE:- Liability of guarantor of unpaid debt – Liability of drawer and acceptor of bills of exchange.

B. LIGGETT (LIVERPOOL) LIMITED V. BARCLAYS BANK, LIMITED

BANKING AND FINANCE LAW:- Banking Practices - Banker - Negligence - Cheques of Company to be signed by two Directors - Payment by Banker of Cheques signed by one Director - Cheques payable to Trade Creditors of Company - Liabilities of Company not increased by Payments - Banker entitled to stand in Place of Creditors

B. VISINONI LIMITED AND OTHERS V. NATIONAL BANK OF NIGERIA LIMITED

BANKER AND CUSTOMER RELATIONSHIP:- Dishonour of cheque -Insufficient funds in customer's account - Customer, issued cheque on the strength of overdraft facilities purportedly granted to him by bank manager who lacked authority to grant same - Whether bank is liable

BALA YA'U V. BANK OF THE NORTH LIMITED

BANKING - Effect of failure of bank to give notice of dishonour of cheque

BALOGUN V. NATIONAL BANK OF NIGERIA LTD

BANKING AND FINANCE LAW:– Banking practices – Banker-Customer Relationship – Duty of bank to honour check - Failure to honour cheque in respect of an account that was in funds – Whether defamation actionable without proof of damages - Attitude of court thereto

BANKING AND FINANCE LAW:– Banking practices – Banker-Customer Relationship – Wrongful dishonour of a customer’s check – Rule in Rolin V. Steward and Gibbon V. Westminster that only ‘traders’ are entitled to presumption of damages without proof of actual damage – Supreme Court restatement of the Rule as to cover ‘Persons in trade/Business’

BANKING AND FINANCE LAW:– Banking practices – Banker-Customer Relationship - The role or predominating business of a bank/banker – Receipt of money from or an account of his customer by a banker – Whether constitutes banker the debtor of the customer - Cheque drawn on the banker by the customer –Legal import of bank’s refusal/failure to honour check – Applicable Rules

BANK OF AFRICA, LIMITED V. THE COLONIAL GOVERNMENT

BANKING AND FINANCE LAW:- Banking practice – Bank – Head office and Branch offices – Actions deemed to be acts of bank pursuant to its objects – Interpretation of statute relating to a currency issuing bank

BANK OF AMERICA (NATIONAL TRUST AND SAVINGS ASSOCIATION V. ALEXANDER

 

BANK OF THE NORTH LIMITED V.  SUARAU AKOREDE

BANKING AND FINANCE LAW:- Loan and overdraft facilities – When a contract thereto is deemed to exist – How treated

BANK OF THE NORTH LIMITED V. ADEHI

BANKING AND FINANCE LAW:– Right of lien over a property – Whether a bank can claim same over a property for which it had given no consideration.


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Contact Editors - Sam Eleanya, Agboola Lola, Ugochi Eleanya - through lawnigeria@gmail.com