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Tag: banking law

Origin Oil and Gas v. Union Bank
Case Law

BETWEEN THE LINES: WHAT THE COURT OF APPEAL MISSED IN UNION BANK V. ORIGIN OIL & GAS LTD

Introduction Banks ensure the wheel of commercial activities continue to roll through the provision of credit facilities to business entities. Commercial lending also offers investment benefits to banks which include increased revenue and financial stability. As businesses grow and the banks become more stable, stronger bank-customer relationships are built.  One of the biggest threats to […]

COURT OF APPEAL COMES TO THE RESCUE OF A BANK WHICH ERRONEOUSLY CREDITED ITS DEBTOR WITH N20M
Case Law

COURT OF APPEAL COMES TO THE RESCUE OF A BANK WHICH ERRONEOUSLY CREDITED ITS DEBTOR WITH N20M

The Story Appeal No. CA/L/1196/2016 – Keystone Bank Limited v. Office Devices Limited & Anor.  The Respondents, Office Devices Ltd. & Mr Boni Obieze, owed the Appellant, Keystone Bank Ltd., the sum of about N18, 600, 000. 00 (Eighteen Million Six Hundred Thousand Naira). While the debt remained unpaid, the Bank erroneously credited the Respondents’ […]

Bank tricks
Case Law

Tricks banks play: Why you should be careful with branch managers.

The Story. G.T.B. Plc v. Noble [2019] 14 NWLR (Pt. 1693) 389. Pastor R. C. Noble and Ribeh Eucharia Nneka (“the Respondents”) were customers of Guaranty Trust Bank Plc, Nnewi branch (“the Appellant” or “the Bank”). They originally placed the sum of N26.5 Million in a fixed deposit with the Bank. As agreed by the […]

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