Banking Law (63)
HELD:
"The relationship of banker and customer depends basically on the ordinary principles of contract and it could, at least in theory, be brought to an end in any of the ways a contract may be determined.
HELD:
"...Lord Chorley who is regarded as a leading authority on Banking Law says in his Law of Banking, 6th edn, page 349:
HELD:
"The relation between a banker and its customer is that of a debtor and creditor and it is founded on a simple contract.
HELD:
"It is to be noted though the situation has become trite that it is the claim of a plaintiff that vests jurisdiction in a Court.
HELD:
"The defendants agreed that the life of a cheque is six months.
HELD:
"The decisions in Joachimson v. Swiss Bank Corp. (supra), as well as that in the leading case of Foey v. Hill (1882) 2 HL Cas. 28, have been cited and followed by the apex court of this country in Yesufu v. A.C.B. (1981) 1 SC 74, (1981) 12 NSCC 36 and Balogun v. N.B.N. (1978) 3 SC 155, (1978) 12 NSCC 36.
HELD:
"The relationship of a banker to customer is contractual.
HELD:
"Appellant's counsel argued strenuously that without the account number of the judgment debtor, to reveal all account details of the judgment debtor amounts to a usurpation of the contractual duty of care owed the judgment debtor by the Appellant and that the Appellant owes the judgment debtor a contractual duty of care and security of its account position.
HELD:
"It is beyond controversy that one of the principal duties of a banker to its customer is to maintain a complete secrecy/confidentiality of the information about a customer's account from the day the account is closed and is no longer operated.