Obong-ifiok (Dr.) Anny Asikpo V. Access Bank PLC (2015)

LawGlobal-Hub Lead Judgment Report – COURT OF APPEAL

ONYEKACHI AJA OTISI, J.C.A. (Delivering the Leading Judgment)

This is an appeal against the judgment of Andrew E. Okon J. of the High Court of Justice, Akwa Ibom State sitting in Uyo dated October 29, 2013 wherein the claims of the Appellant were dismissed and the Counter Claim of the Respondent was granted.

The Appellant, a customer of the Respondent (then known as Intercontinental Bank Plc), had instituted Suit No HU/239/2010 against the Respondent. By his Amended Statement of Claim, at pages 288 – 311 of the Records of Appeal, the Appellant sought the following orders of the trial Court:

a. A declaration that the Claimant is the customer of the Defendant by operating account numbers 0201001000001329 (now account number 0042927387), 02010000004389 (now account number 0042930237) and 0201001000177494 (now account no. 0042948522) obtaining credit facilities from Defendant for execution of contracts and that the Defendants owed the claimant many duties arising from the banking relationship.

b. A declaration that the Defendant was the Agent of the claimant by undertaking in a written agreement to collect contract proceeds from the

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Anambra State Ministry Education vide the Memorandum of Understanding (MOU) and the contract proceeds domiciliation agreement/agreement and was bound by the agreements.

c. A declaration that the Defendant had fully recovered the total credit facility granted to the Claimant and necessary charges through amount recovered from the domiciliation agreement and other cash lodgments and fund transfer into the claimant’s account No. 020100100001329 (now account number 0042927387) between 01/10/2008 and 09/06/2010.

d. A declaration that the Defendant cannot continue to charge claimant unjustified interest with effect from 1st June, 2009 after having recovered the principal sum of N60,356,900.00 which the Claimant withdrawn out of the N62,000,000.00 credit facility granted to the Claimant and having failed in her duties and breached a fundamental term of the facility agreement.

e. A declaration that the correct balance on the claimant account number 0201001000001329 (now account number 0042922387), should be N2,806,559.13 credit made up as follows:

a. Closing balance as at 30/5/2009 credit – – 2,699,524.13

b. Cash Deposit by claimant debtor

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as at 26/8/09 — 113,475.00 credit