Avinash Chander Malhotra V. Bank Of Singapore Limited (Formerly ING Asia Private Bank Limited) (2014)

LawGlobal-Hub Lead Judgment Report – COURT OF APPEAL

RITA NOSAKHARE PEMU, J.C.A. (Delivering the Leading Judgment)

This is an appeal at the instance of the Appellant, who is appealing the Judgment of Honourable Justice B.F.N. Nyako of the Federal High Court, Lagos delivered in Suit No. FHC/L/CS/881/10 on the 23rd of May 2012.

By Originating Summons filed on the 19th of July 2010, the Plaintiff (Appellant in the present appeal) sought the determination of the following questions and reliefs viz:

(1) Whether Bank of Singapore Limited (formerly ING Asia Private Bank Limited), a Bank registered in Singapore can carry out banking business in Nigeria without licence duly issued by the Central Bank of Nigeria.

(2) Whether various visits to Nigeria by officers of the said bank of Singapore Limited to solicit for customers resident in Nigeria who upon being convinced completed account opening forms in Nigeria and placed various deposits with the Defendant are in contravention of the Companies and Allied Matters Act Cap 20 Laws of the Federation of Nigeria 2004, Banking and other Financial Institutions Act Cap B3 Laws of the Federation of Nigeria, 2004 and the Immigration Act Cap 11, Laws of the Federation of Nigeria.

And that if the answers to Questions 1 and 2 are negative and in favour of the Plaintiff, then the Plaintiff seeks the following reliefs:-

(1) A DECLARATION that all the transactions between the Plaintiff and the Defendant in Nigeria relating to the opening of accounts, placement of deposits and instruction to invest the deposits through various means are illegal, null, void and of no effect;

(ii) A DECLARATION that all the transactions between the Plaintiff and the Defendant in Nigeria relating to the opening of the accounts, placement of deposits and instructions to invest the deposit through various means are unenforceable by the Defendant;

(iii) AN INJUNCTION restraining the Defendant by itself, servants or agents whatsoever from harassing, intimidating or threatening the Plaintiff in anyway whatsoever and taking any steps in Nigeria to recover any sum of money with respect to the illegal and unenforceable transaction with the Plaintiff.

AND FOR SUCH FURTHER or other reliefs as this Honourable Court may deem fit to make in the circumstances (pages 3 – 5 of the Record of Appeal).

FACTS WHICH ARE AT THE BOSOM OF THE LOWER COURT BUT RELEVANT TO THIS APPEAL.

Affidavits in support of the Originating Summons and that in reply thereto support that the parties are agreed on certain facts.

That the Respondent is a Bank incorporated under the Laws of Singapore with its registered address at 65 Chulia Street, #09-00 OCBC Centre Singapore 049513.

The Respondent Bank has no licence to practice Banking in Nigeria. Between 2006 and 2008, Mr. Kailash Shivdasani and Mr. Melwyn Dias, (employees of the Defendant/Respondent) and who are not resident in Nigeria, visited Nigeria and solicited for investment deposits from Nigeria residents including the Appellant.