Banking Law (63)
HELD:
"A bank is a debtor to its customer.
HELD:
"I have considered the submission by learned counsel to the parties on this issue above.
HELD:
''Interest may be claimed as a right where it is contemplated by the agreement between the parties, or under a mercantile custom, or under a principle of equity such as breach of a fiduciary relationship.
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:
"It is therefore open to the customer to give an oral instruction to have his account closed at once although he would not be able to take out whatever remains as credit therein until a proper settlement of obligations on both sides is carried out.
HELD:
"To "garnish" is "1. To warn (2) To extract money from prisoners.
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.
HELD:
"A bank is a debtor to its customer. In The Bankers' Liability, Revised edition, 2014 by Nkiru-Nzegwu Danjuma appears the following passage at pages 108 to 109:
HELD:
"Where there is no express agreement as to the rate of interest payable, the bank is entitled to charge interest rate on the basis that there is an established custom to that effect. See Barclays Bank of Nigeria Ltd v. Alhaji Maiwada Abubakar (1977)10 SC.13." See AGBABIAKA v. FIRST BANK (2019) LPELR-48125(SC)Per GALUMJE, J.S.C. (P. 20, Paras. A-B)