Skye Bank Plc v. Adedokun Olusegun Adegun (2024)

LAWGLOBAL HUB Lead Judgment Report – SUPREME COURT

EMMANUEL AKOMAYE AGIM, JSC (Delivering the leading judgment)

The respondent who was employed on 3rd July, 1995 as an account clerk by Cooperative Bank Plc had progressed by promotions to the position of officer on the Bank’s salary Group 12 from 1st April, 2005.

On the 29th November, 2005, inspectors came from the Head office of the said bank to the Oyo Branch of the Bank, respondents work station from 2003.

After inspecting the bank books in that Branch, the inspectors discovered that between 2004 and 2005, when the respondent was acting Treasury Officer of Oyo Branch of the bank, some senior officers of the bank including the respondent defrauded the bank of sums of money amounting to 16.8 million naira.

The bank then wrote to the respondent a query letter dated 6-12-2005 titled “Fraudulent Conversion of stolen cheques amounting to N16.8 million naira for pecuniary benefit of one Miss Afolabi Dorcas Folashade Savings Account at our Oyo Branch” stating that the inspection revealed that he participated in a scheme of fraudulent withdrawals from the bank, detailing the particulars of the fraud and requesting for his reply.

The respondent replied by a hand written letter dated 6th November, 2005, denying participating in the fraud and promising that he would be more vigilant and report any irregularities to the bank.

On 15-12-2005, the bank wrote to the respondent a letter giving him Long Service Award in the following terms: –

“Year 2005 long service award

Our records show that you have put in 10 years of meritorious service with this establishment. This is praise worthy and we congratulate you for this achievement.

As our appreciation for this noble and selfless service to the Bank please find attached a certificate of Long Service Award and kindly arrange to collect from our office one (1) Wall Clock

It is hoped that this would ginger you to greater heights in the service of the Bank and thereby contribute to the continued growth of the establishment.”

Concerning his response to the Bank’s query of 8-12-2005, the bank on 30-12-2005 wrote a letter dated same date conveying its decision thusly: –

“Caution

Re: Fraudulent Conversion of stolen Cheques amounting to N16.8M by Messrs A. J. Olaiya, B. O. Anjorin and other external