BANKING AND FINANCE LAW CASES/JUDGMENTS

Published by Law Nigeria Admin at June 7, 2018

POLICY, PRACTICE & PUBLISHING LAW REPORTS, 3PLR

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TITLE	MAIN ISSUES
A.C.B. LTD. V. BABAYEMI (HC)	BANKING AND FINANCE LAW:- Banking practices – Recovery of loan by way of overdraft –
A.C.B. LTD V KOTUN	BANKING AND FINANCE:- Banking practices – Recovery of loans due, demanded for but unpaid – Bank loan by way of overdraft facilities – Nature of evidence required to prove same – Where an illiterate involved in contract thereto – Duty on bank
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. YESUFU	BANKING AND FINANCE:- Banking practices – Bill of exchange – Meaning of under sections 2 and 3 of the Bills of Exchange Act, Cap. 21, LFN 1958 – Distinction between dishonor of bill of exchange and its under-payment – Implications for duty of a banker to give notice of a dishonor of a bill to his customer
ACB PLC V. EMOSTRADE LTD	BANKING AND FINANCE – BANKER-CUSTOMER RELATIONS: Privity of contract – Whether exists between sole signatory of account of incorporated company and bank – Where customer failed to deposit certificate of incorporation with the bank – Whether ground to deny signatory competence to institute the action in the name of the company
ADEBAYO V. JOHNSON	BANKING AND FINANCE LAW:‑ Winding-up of bank –
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
ADEROGBA V. THE QUEEN	BANKING AND FINANCE – CRIMINAL PROSECUTION:- Bank cashier – prosecution for stealing of bank funds
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:-
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 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
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
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
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	BANKING AND FINANCE – BANKER-CUSTOMER RELATIONS:- Dishonour of customer’s check – When amounts to breach of contract
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 LTD V. CENTRAL BANK OF NIGERIA	BANKING AND FINANCE LAW:- Banking – Central Bank (Currency Conversion) Decree No 51 1967 Section I thereof – Application of Section 21 of Central Bank of Nigeria Act S.1(12) – Interpretation of Section 1(1)(6) of Decree 1967 – Effect
BANK OF THE NORTH LTD. V. BALA YAU	BANKING AND FINANCE LAW:– Bills of Exchange Act – sections 47,48,49 and 50(2) – Notice of dishonour of cheques – waiver of right to receive due notice – section 50(2)(b) of Bills of Exchange Act considered BANKING AND FINANCE LAW:– Banking allowing a customer to draw on an uncleared cheque – Cheque subsequently dishonoured – Options open to bank. BANKING LAW:– Collecting bank – Whether can be equated with a creditor who has received negotiable instrument as payment of debt
BANK OF THE NORTH LTD. V. MEMUDU ADIGUN ONIYO	BANKING AND FINANCE:– Payment into a bank account – How proved – Ishola v. SGBN (1997) 2 NWLR (Pt. 488) 405 applied and followed – Whether the plaintiff discharged the onus to prove repayment of loan granted to them BANKING AND FINANCE:– Uncommunicated variations of interest rate payable on loan – Whether enforceable against the customer of a bank
BANK OF THE NORTH V. ALHAJI IDRISU OJEBA LTD AND 2 ORS	BANKING AND FINANCE:- Banking practices – Recovery of loan by way of overdraft – Action thereto
BARCLAYS BANK D.C.O. V. MEMUNATU HASSAN	BANKING AND FINANCE LAW:- Banking practices – Overdraft — Principles guiding applicable rates of interest on overdraft — Whether receiving without protest regular Statement of Account showing rate of interest charged is deemed acceptance of that rate BANKING AND FINANCE LAW:- Mortgage – Equitable Mortgage – Specific performance – Whether a claim for the execution of a legal mortgage can be based on the execution of a memorandum of deposit of deeds
BARCLAYS BANK LTD V. W J SIMMS SON AND COOKE (SOUTHERN) LTD AND ANOTHER	BANKING AND FINANCE LAW:- Banking Practices – Cheque Clearance – Check stopped by drawer yet paid by bank due to oversight – Whether bank intended payee to have money at all events – Whether payment made for valuable consideration – Whether payee changing his position – Whether money recoverable from payee – Whether payee can invoke defence that he had been deprived of opportunity of giving notice of dishonour – Bills of Exchange Act 1882, s 50(2)(c).
BARCLAYS BANK OF NIG. LTD. V. ABUBAKAR	BANKING AND FINANCE LAW:- Bank Overdraft – Interest chargeable custom of Bankers – Express agreement on interest – Universal custom of Bankers
BARCLAYS BANK OF NIGERIA LTD. V. RABIU MAHMUD	BANKING AND FINANCE LAW:- Overdraft-Oral agreement to issue bankers drafts only upon money paid in – Signed request by defendant for drafts in excess of money paid in – Whether defendant liable for overdraft
BELOXXI & COMPANY LIMITED & ANOR V. SOUTH TRUST BANK & ORS.	BANKING AND FINANCE LAW:– Banking practices – Recovery of loan – Claim of debtor that payment isn’t due – Where dismissed – Counter-claim of bank – Proper treatment of
BIOSOLA NIGERIA LIMITED & ANOR V. MAINSTREET BANK LIMITED & ORS	BANKING AND FINANCE LAW – BANKER-CUSTOMER RELATIONSHIP:- Whether customers are entitled to have their money back on demand – Existence of legally binding agreement between the parties to grant credit facilities – How determined
BOLANLE ABEKE V. THE STATE	BANKING AND FINANCE LAW:- Cheque – Meaning of – Issuance of – Implications BANKING AND FINANCE LAW:- Dud cheque – Offence of issuing dud cheque -Ingredients of