Court adjourns N20bn suit against bank until Nov. 29

The FCT High Court, Lugbe, has adjourned until Nov. 29, further hearing in a case filed by Owigs and Obis Ltd against Zenith Bank. The court adjourned the case after the cross-examination of Mrs Uchechi Ikejiaku, the Efab Abuja Branch Manager. The company sued the bank over alleged negligence conduct which caused it to lose […]

The FCT High Court, Lugbe, has adjourned until Nov. 29, further hearing in a case filed by Owigs and Obis Ltd against Zenith Bank.

The court adjourned the case after the cross-examination of Mrs Uchechi Ikejiaku, the Efab Abuja Branch Manager.

The company sued the bank over alleged negligence conduct which caused it to lose series of contracts worth 64 million dollars.

The firm also accused the bank of unprofessional handling of its client’s business resulting in losing contract with a Chinese company.

Ikejiaku who responded to questions posed by the plaintiff’s counsel, Mr Jude Nachukwu, said that the plaintiff’s letters were received with verifiable proof.

The plaintiff’s lawyer also queried the witness over performance bonds and offer letters, seeking to know which of the letters came first.

Ikejiaku said both letters came together, but that the performance bond was pending till the offer letter was accepted, admitting that the offer letter, marked as exhibit DW1E, was not formally acknowledged.

She also denied that not all letters sent to the plaintiff followed the same pattern.
Ikejiaku said that soft copy was forwarded as a notification to the plaintiff to print, insisting that offer letters were usually issued in hard copy and forwarded to customers.

The plaintiff’s counsel also alleged that the bank deliberately held on to the letter of credit, which was supposed to be released to the plaintiff to enable him to execute the contract.

But Ikejiaku said the bank had forwarded the letter of credit to the plaintiff.
Justice Angel Otaluka adjourned the case until Nov. 29 for further cross-examinations. (NAN)