
Lagos Lawyer, Dada Awosika Sues Heritage Bank For Alleged Fraud
More Videos
Published
2 years agoon
A Federal high court sitting in Ikoyi,Lagos State, south west Nigeria has adjourned till 31st of March 2022 for hearing, the suit instituted against Heritage Bank of Nigeria by a Lagos Lawyer. Barrister Dada Awosika SAN,over alleged manipulation of his account.
Mr. Awosika SAN practices under a business name and style of D.A. Awosika & Partners and who maintain a current account with the bank, alleged thus: that Heritage Bank conscripted him to open the aforementioned account in order that the judgment sum arising from certain terms of settlement executed between his clients (Mr. Olajide Aleshiloye Williams/Otunba Segun Jawando) on one hand and the bank on the other hand in Suit No: LD/7313/2014 between Mr. Olajide Aleshiloye Williams/Otunba Segun Jawando vs. Beach Resorts Nigeria Plc/Heritage Bank Limited be paid into the said account.I
In opening the account the bank detailed one of its senior officials to be his account officer to assist in opening the said account and for proper endorsement and execution of the current account opening package which he properly endorsed leading to normal operation of the said account.
At all material times, he agreed with the bank to run and operate the said current account in line with good banking standard and employ the best ethical and professional manner consistent with global best practice. Further to the aforementioned paragraphs and in line with the consent judgment entered on the 12th of January 2016 between the Plaintiff’s client and the Bank, the bank paid a total sum of N250,000,000.00 into the Plaintiff’s stated account as judgment sum at various times in February, 2016, May 2016 and August 2016 for the benefit of the Plaintiff’s clients who were Claimants in Suit number
LD/7313/2014.
Surprisingly, in the narration contained in the statement of account of the Plaintiff, the bank manipulated the narration and discreetly described the payment as fees to the Plaintiff.
Mr. Awosika, SAN, avers that it was an implied term of the banker-customer relationship between parties herein and of the mandate submitted to the bank by him that the Bank would exercise reasonable skill and care in the running of his account and that at no time will the banking and financial records of the Plaintiff be furnished or made available to a third party except with his consent and/or in a normal execution of a valid and subsisting order of court.
However, in breach of the sacred mandate donated to the bank for the running of the Plaintiff’s account, the bank disclosed, furnished and passed over to the Federal Inland Revenue Services (FIRS) the Plaintiff’s financial and banking detail and this ultimately led FIRS to issue notice to the Plaintiff to remit unpaid taxes for 2016/2017 (as Company Income Tax and Value Added Tax (VAT)} directing the Plaintiff to pay the sum of N23,274,166.19 being turn over of N258,601,846.53 in custody of the bank.
The Plaintiff immediately responded to the FIRS letter and debunked the insinuation and misconceptions that the Plaintiff was operating as a limited liability company to pay Income Tax. Thereafter it came as a shock to the Plaintiff that the bank posted POST NO DEBIT on the Plaintiff account without any communication to the Plaintiff in compliance with a directive of FIRS.
Upon protest at the Bank’s premises at Adeola Odeku on the 6th of February, 2019, the bank informed the Plaintiff that the freezing order on the Plaintiff’s account was directed to be placed by FIRS as a result of banking and financial details submitted to FIRS by the Bank The Plaintiff made further protest to FIRS headquarters in Abuja, which later issued directive to the bank to remove the ‘Post No Debit’ and any other freezing orders, placed on the Plaintiff’s account since February 4, 2019. The bank placed this Post No Debit’ on the Plaintiff’s account without any order of court and also the bank furnished the Plaintiff’s banking and financial records to FIRS without order of court or consent of the Plaintiff.
The Plaintiff alleged further that he made several transfers and cash deposits into his firm’s account with the bank, When the bank thereafter sent notifications of receipt of this transfers and cash deposits, the Plaintiff discovered that the bank had surreptitiously applied a debit of over N23 Million into the Plaintiff’s firm’s account without notice of such activity to the Plaintiff.
The Plaintiff further avers that the bank appropriated, converted and utilized the entire credit balance in the Plaintiff’s firm’s account as well as all transfers and cash deposits made into the said account in purported satisfaction of repayment obligations in regard to a purported phony debt allegedly outstanding and payable to the bank.
On Wednesday the 20th of November, 2019, the Plaintiff visited the Defendant’s Ashabi Cole branch, Agidingbi, Ikeja being the nearest branch to the Plaintiff’s office to vehemently protest the fraudulent manipulation of his firm’s account but was informed by the manager on duty that the branch could not help him as there was no complaint resolution mechanism available to resolve the issue in that branch.
However, the manager of Ashabi Cole branch of the bank confirmed the debit of over N23Million lumped into the Plaintiff’s firm’s account and advised that the Plaintiff write the bank detailing his complaint to the bank’s Managing Director for expeditious resolution.
The Plaintiff avers that the bank sent his firm’s account’s November, 2019 statement to him on the 2nd of December 2019 and it came as a shock to the Plaintiff that the bank hid or covertly suppressed the debit of over N23Million in the said Plaintiff’s account.
Sequel to this, the Plaintiff made further cash transfers to his account on the 2nd and 7th December, 2019, and surprisingly, when notifications were sent to the Plaintiff, those cash deposits were illegally and wrongfully applied by the bank to a non-existent repayment obligation of the N23Million
cooked up by the bank into the Plaintiff’s firm account.
In a bid to get to the bottom of the fraudulent manipulation of the Plaintiff’s account, the Plaintiff wrote the bank in his letter of December 2, 2019 received the same day to demand for the immediate removal of over N23 Million illegally debited and posted into the Plaintiff’s firm account.
The Plaintiff avers that the bank fraudulently manipulated the Plaintiff’s firm account and posted a bogus debit of over N23Million into the said account without the Plaintiff’s consent and no information was made available to the Plaintiff regarding this illegal and phony debit and there was no court order directing that this debit of over N23 million be posted into the Plaintiff’s account.
In the statement of particulars of fraud,the Plaintiff stated that: He has no subsisting repayment obligation arising from any overdraft or transaction involving the use of depositors’ funds at the instance of the Plaintiff to warrant any repayment obligation.
The bank appropriated the credit balance in the Plaintiff’s account in excess of N76,000. in satisfaction of a sham and bogus debit of over N23 Million Naira.
All cash deposits and transfers made into the Plaintiff’s firm’s account were utilized, converted and appropriated by the bank without seeking the Plaintiff’s consent and without an order of court to that effect.
The bank discreetly narrated judgment sum payment to the Plaintiff’s clients as fees paid to the Plaintiff when in fact there were no
narration of services rendered by the Plaintiff to the bank to justify such.
The Defendant disguised the payment of N250 Million to the Plaintiff’s clients as fees to the Plaintiff to avoid payment of VAT and Witholding tax to the relevant government agencies.
The bank operated the Plaintiff’s account outside the standard of good banking practice and that the bank conducted its banking business outside the ethical and professional manner consistent with global best practice;
The bank did not bring to the Plaintiff’s attention the origin/source of the bogus and illegal debit of over N23Million posted to the Plaintiff’s account as against the standard practice for a banking outfit to bring to the attention of their customers any form of activity or information concerning their accounts.
The bank breached the duty to exercise reasonable skill and care as well as that of confidentiality in the running of the Plaintiff’s account.
He did not at any time apply for and utilize any overdraft facility, nor did he apply for credit facility from the bank to justify any set off or appropriation of the Plaintiff’s credit balance or cash deposits made into the Plaintiff’s account.
The Plaintiff shall rely on several Central Bank Of Nigeria (CBN)’s circulars and regulations as well as code of conduct in the Nigerian Banking Industry signed to by the bank to prove various violations against the bank espoused above.
The Plaintiff has suffered loss and damage as a result of the fraudulent manipulation of his firm’s account, depriving him access to his much needed funds in the said account and for several violations by the bank of crucial banking ethics and standard.
Consequently the Plaintiff’s claims against the Heritage bank are as follows:
A declaration that the bank was not entitled in law to appropriate and convert to its own use the credit balance of N76,000.00 and several other cash deposits made into the Plaintiff’s firm’s account at various times in purported satisfaction of a non existing debt obligation allegedly owed to the bank by the Plaintiff thus breaching the fiduciary duty and duty of care owed the Plaintiff in the running and operation of the said Plaintiff’s account.
A declaration that the bank fraudulently manipulated the Plaintiff’s firm’s account by surreptitiously hiding, disguising and posting a bogus debt of over N23Million into the Plaintiff ‘s said account and the bank illegally coverted,appropriated and utilized all the credit balance and several other cash deposited into into the Plaintiff’s debit and of said account utilized in purported satisfaction of a non existing debt.
A declaration that the bank failed to exercise reasonable skill and care in carrying out its banking business in relation to the Plaintiff’s firm’s account, when the bank illegally debited the Plaintiff’s account with the sum of over N23Million without any order of court and most importantly when the Plaintiff did not utilize any overdraft nor have any collateral transactional agreement for over draft or trade finance facility on the said account
An order of the Court directing the bank to forthwith expunge and reverse the bogus illegal debit of the sum of N23Million applied to the Plaintiff’s firm’s account and also immediately credit the Plaintiff’s account with all sums already appropriated, converted and utilized by the bank with interest at Central Bank Premises (CBN) prime lending rate of 25%
An order of the Court directing the bank to pay the sum of N650Million as general, aggravated, fraudulently manipulating, appropriating and converting the credit balance and other cash deposits made into the Plaintiff’s account and for the bank’s failure to exercise reasonable skill and care in the running of the Plaintiff’s account and for the breach of fiduciary duty and confidentiality.
Cost of this action as the Court may deem fit to order.
You may like
Business
Trade minister, Uzoka-Anite launches NATEP, targets 50 Million jobs for youths
Published
1 day agoon
September 24, 2023
The minister of Industry, Trade and Investment, Dr Doris Uzoka-Anite has launched the National Talent Export Programme (NATEP) in a bid to position Nigeria as a talent export hub designed to create not less than one million jobs in the next five years.
The Minister performed the launching on behalf of President Bola Ahmed Tinubu at the sidelines of the 78th Session of the United Nations General Assembly (UNGA), in New York, United States of America.
In her opening remarks at the launch of the initiative at the Microsoft office in NewYork, the minister highlighted the need to ensure Nigeria takes the lead in exporting global talents that are doing well across the world which will also drive a huge investment in training and also attracting more investment in talent exportation.
According to her, the initiative is in line with President Bola Tinubu’s Renewed Hope agenda to diversify the Nigerian economy, create sustainability opportunities and generate about 50 million jobs for the youths over time.
“NATEP is an initiative that will serve as a special purpose vehicle (SPV) to position Nigeria as a leading global hub for service export, talent sourcing and talent export.
“As part of our strategy towards achieving this, President Bola Tinubu whose agenda is job creation, we have initiated a National Talent Export Programme (NATEP) for Nigeria, which targets the creation of one million jobs across Nigeria with a target of five years in line with the theme of this year’s UNGA, which is rebuilding trust and igniting global solidarity, accelerating action on the 2030 agenda and the sustainable development goals towards peace, prosperity, progress and sustainability for all”, the minister said.
Uzoka-Anite further informed the large gathering comprising of world leaders and other giant tech companies across the globe like; Amazon, World Economic Forum, Microsoft group, Flour Mills Nigeria, Meta, Google and a host of others, that the global talent sourcing industry is valued at $620 billion as at 2020 and industry pundit have forecasted it will be valued at about $904 billion by 2027.
“Nigeria can supply top talents for the global service export and outsourcing business. With over 1.7 million graduates from higher education institutions entering the workforce annually, this will reduce the burden of unemployment and over-dependence on the government for jobs”, she explained.
The Minister further noted that NATEP was specially created to arrest the bottleneck facing the talent and service sector export industry, which will enhance competitiveness, and innovation, and drive sustainable development growth, empowerment and training through trade and value chain exchange.
She added: “Nigeria is ready to become a global hub for talent export, as the government is ready to take full advantage of the African Continental Free Trade Agreement (ACfTA) to penetrate the huge continental market and target job opportunities.
“As a country, we have a significant value proposition for regional and global markets for the export of services. We will actively target Greenfield and brownfield job opportunities in the United Kingdom, Europe, China, Canada, the United States of America and a host of other countries”.
The Minister For Communications, Innovation and Digital Economy, Dr. Bosun Tijani, while addressing participants at the launch disclosed that launching NATEP was timely, adding that to drive the mandate for Nigeria to be positioned as one of the global talent export hubs in Africa and the world will see Nigeria benefit more in terms of generating huge revenue, digitalization of the economy, more robust data protection opportunities and also avert the massive brain drain within the youth demography.
According to him, Nigerians in the diaspora are doing great things in the tech world, adding that it’s time for Nigeria to benefit by making more money and develop other youths to maximize their potentials.
“With a youthful population and over 1.7 million graduates from higher educational institutions joining the workforce each year, Nigeria has the potential to provide high-quality talent for the Global Service export and outsourcing industry. We must first identify them, train them and make the world see the stuff they are made of. We will not only create jobs but also empower them with the basic skills of survival and pass them on to the next generation” Dr Tijani said.
Business
The Disappointing State of Customer Relations Among Instagram Merchants
Published
4 days agoon
September 21, 2023
By Otunba Deoye Otukoya
Introduction:
In today’s digital age Instagram has become an indispensable platform for businesses to connect with customers and promote their products or services. With the increasing popularity of Instagram stores it is essential for merchants to prioritize good customer relations. However a prevalent issue that deserves attention is the lack of professionalism and poor communication exhibited by some Instagram merchants. Many customers have reported incidents where the merchants provide their phone numbers on their timelines but fail to respond adequately or display unpleasant attitudes when contacted. This article aims to shed light on this concerning trend and the implications it has on customers and businesses alike.
1. Accessibility Matters:
One of the fundamental aspects of ensuring good customer relations is the accessibility of the merchant. By voluntarily providing their phone numbers merchants convey the impression of being available and open to customer inquiries. However the reality often falls short of this expectation. Too frequently customers are left frustrated and inconvenienced when their attempts to contact merchants go unanswered for days or are met with dismissive responses. This lack of availability undermines trust and damages the overall customer experience.
2. Unprofessional Attitudes:
Another significant concern is the unprofessional conduct and negative attitudes displayed by certain Instagram merchants when interacting with customers. The success of any business hinges on creating a positive relationship with consumers. However some merchants who put their phone numbers out for public use have been observed to have a lackadaisical approach towards customer engagements. Instances of rude behavior impatience and unhelpfulness have been reported leaving customers feeling disrespected and discouraged from engaging with that particular merchant or even shopping on Instagram altogether.
3. The Ripple Effect:
The ramifications of poor customer relations go beyond individual experiences. When customers have negative encounters with Instagram merchants they are likely to share their frustrations with friends family and online communities. Word-of-mouth plays a crucial role in shaping a merchant’s reputation and negative reviews can quickly spread damaging the business’s credibility. Consequently merchants who fail to prioritize customer relations may find themselves losing potential customers and hindering their long-term growth prospects.
4. A Call for Improvement:
To address this issue it is imperative for Instagram merchants to recognize the significance of good customer relations and take proactive steps to improve their interactions with customers. Some crucial measures include:
a. Prompt Responses: Merchants should aim to respond to customer inquiries in a timely manner ideally within 24 hours. This showcases attentiveness and professionalism fostering positive customer relationships.
b. Polite and Respectful Communication: Merchants need to maintain a respectful tone even when faced with challenging or repetitive customer inquiries. Good customer relations require patience and understanding.
c. Training and Empathy: Merchants should invest time in training their customer support staff emphasizing the importance of empathy and effective problem-solving. Understanding the customer’s perspective can go a long way in providing satisfactory resolutions.
d. Feedback and Improvements: Merchants should actively seek feedback from customers to identify areas for improvement. This feedback loop can assist in refining their customer relations strategies and forging stronger connections with their target audience.
Conclusion:
The alarming lack of good customer relations displayed by some Instagram merchants is a disheartening trend that affects both customers and businesses. By prioritizing accessibility professionalism and respect in their interactions merchants can foster an environment of trust and loyalty. Overlooking the importance of good customer relations may lead to a decline in sales and reputation. Ultimately developing strong customer relations on Instagram will not only boost customer satisfaction but also drive growth and success for merchants in the long run.
Trending News
-
News2 years ago
PLEASE HELP SAVE LITTLE AISHA’S LIFE
-
News3 years ago
GTBank Out With 2020 Full Year Audited Results…Reports PBT of ₦238.1 Billion
-
Business2 years ago
Fitch Affirms Ecobank Nigeria’s Stable Outlook
-
Entertainment1 year ago
Meet Upcoming US based Naija Female Entrepreneur, ABIGAIL JOSEPH. Talks About Her Fashion and Lifestyle
-
Business1 year ago
GTCO Plc Releases 2022 Half Year Audited Results. Reports Profit Before Tax of ₦103.2billion
-
Business8 months ago
KOGI SEN (ECHOCHO) IN PUBLIC FIGHT -DISGRACED IN ANKPA LG
-
Home2 years ago
Pyramids’ Road Trip Video to Aba Stadium, a Wake up Call, Says Egbe
-
News1 year ago
Alhaji Ibrahim Gusau remains the best choice to lead NFF Pinnick’s arrogance made him fail – Primate Ayodele