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ATM Fraud: Court Orders FirstBank to Pay N13million Compensation.

Published

5 years ago

September 9, 2019

At last judgement has come the way of an aggrieved customer of First Bank Nigeria Plc who had suffered fraudulent activity on his account with the bank running into over N800,000. The customer, named Bode Abolade, resides in Nigeria, but alleged that a fraud was perpetrated as his account was debited for shopping in London and flight tickets bought in far away Budapest in Hungary.

After a titanic legal battle that started sometime in 2013,the presiding Judge Hadizat Shagari in her judgement this year declared the claim of the plaintiff succeeds and awarded N13million against First bank Plc in favour of the plaintiff.

Abolade, who is seeking redress against the bank, joined MasterCard West Africa Limited as co –defendant in the litigation. In an amended statement of claim filed before a Lagos Federal high court, on his behalf by a Lagos-based lawyer, Barrister Ganiyu Bello, the customer averred that he maintains a current account with First Bank of Nigeria which he has been operating since 2006 directly by cheques and with the MasterCard procured from the bank after due payment which he uses electronically through Automated Teller Machines (ATMs).

With the card bearing the MasterCard Trade Mark and produced by MasterCard West Africa Limited, it’s advertised to be internationally acceptable and acknowledged and therefore projected to have high technological protection, hence the plaintiff’s confidence in using the MasterCard.

However, Mr Abolade alleged that on 17th August, 2012 he discovered that his account with First Bank was fraudulently debited with sum of N750,509.77 arising from unknown and unauthorized transactions. He promptly complained via voice call and as well by e-mail, with his complaint acknowledged. Thereafter, he physically visited the head office of the bank at Marina, Lagos State on several occasions and he was told that the matter was under investigation.

In its letter dated 5th September, 2012, First Bank denied liability, forcing to write the Central Bank of Nigeria on the issue. In its response on September 27, 2012, the CBN directed First bank to review his complaint and respond within 72hours. While awaiting First Bank’s response, the plaintiff made a formal complaint to MasterCard West Africa on September 10, 2012, with MasterCard advising him to apply for the payment of provisional credit to his account within 60days in its response. In accordance with the advice, he requested for provisional credit to be placed on his account to the bank on September 11, 2012 but the bank did not respond to the request.

Pursuant to CBN’s directives, First Bank made available details of the unauthorized transactions on his account, a copy of which was sent to him as follows: (a) Online transaction receipt for 3 internet purchases of auto parts made by Mr Manuel Caser of 22 Greengate street London and third from Digital and (b) Two Air Tickets purchased on Wizz Air in Budapest showing Passengers’ names Gamote Iordam and Alina Claudia Duma respectively.

Despite Abolade making it clear he does not know any of these persons, neither did he authorize the transactions, the bank neglected to demand from the merchants Turner Shop and Wizz Air or their banks the sum of N750,509.77 arising from the unlawful transactions on his account within 60days of occurrence as per the charge process and as advised by MasterCard. He also declared that there was never a time the details of his MasterCard, which is always in his possession, disclosed to anyone, and in the circumstances of this matter, First bank is liable for the online fraud committed on his account because it arose from card skimming and/or counterfeiting.

He contended further that the online fraud committed on his account was not due to his negligence but by means of other compromises of the defendants’ security because the information required for online transactions are open and accessible only to the staff of First bank who handed over the MasterCard to him at the inception as well as the staff of MasterCard who had the custody of the card before issuance. He stated further that the loss of his N750,509.77 from his account has put him under serious financial strains and stress so much so that he could not carry out important projects already lined up for execution. Mr Abolade added that his account, which has been debit frozen since August 2012 to avoid further complications, has constrained him access to his funds in the account and therefore cannot transact any other businesses in the cashless environment of Lagos state. The bank, in spite of several demands, has failed to reimburse him and in consequence, he is claiming from the defendants jointly and severally for the reimbursement of N750,509.77 and N10million damages respectively plus interest at the rate of 21% per annum with effect from August 17, 2012 until entire sum is fully paid.

However, in its amended statement of defence filed by Novolex Solicitors, First Bank, while describing the plaintiff‘s suit as speculative, vexatious and an abuse of judicial process, urged the court to dismiss same with substantial cost on the ground that the reported transactions in this instance showed that the plaintiff’s card was used to order auto parts in United Kingdom and to pay for airline tickets. These transactions could not have been possible without at least the initiator or enabler knowing the number and other details, thus buttressing the fact that the plaintiff must have compromised his security information.

First Bank also stated that as a precautionary measure to prevent further dissipation of the funds therein and to enable the bank carry out full investigation into the complainant’s withdrawals, another account was opened for the plaintiff to enable him to continue his normal banking transactions.

Justice Shagari said “On critical examination of the facts and circumstance of this case Firrst bank has not done due diligence to the complaint of the plaintiff in providing the plaintiff and this court with details investigation of the online fraud carried out on the plaintiff account.

On the whole the plaintiff has proved his case on preponderance of evidence while the burden of proof has now shifted to First bank, as the bank did not provide sufficient investigation report to the online fraudulent transaction on the plaintiff account they relied on card holder clause and shifted the liability on the plaintiff,but strict to sense First bank is liable to the Plaintiff’s claim I so hold.

Consequently the claim of the Plaintiff succeed and relief sought are granted on the second claim of N10million as compensation,i also award a compensation of N3million against First bank as contained in the relief. The plaintiff’s claim succeeds

Uncategorized

Elated Polaris Bank Customer commends Bank for excellent customer service

Published

1 year ago

December 2, 2023

D'SHOW

Polaris Bank customer, Ife Michael, who recently aired her concerns on X (formerly Twitter) on a school fees transaction, has commended the Bank for resolving her Complaint swiftly as promised.

Ife Michael tweeting via her X handle @V_Ifemichael had called out the Bank for ‘seizing’ her funds as sent from a UK University where she had sought admission.

Polaris Bank reacted promptly to her Complaint and engaged her to explain the process and promised to resolve the issue which the Bank did swiftly.

An apparently elated Ife Michael went back to the micro blogging site to recount her experience with an update on her earlier thread of how the Bank swiftly resolved her Complainant.

The Bank, according to her update “responded and reached out to explain in details the guidelines underpinning FX transaction as it relates in particular to International payment.

In her tweet, Ife Michael expressed gratitude to Polaris Bank’s swift action and transparent communication. According to her, the Bank clarified that the situation was complex but assured her that the funds would be promptly refunded to the school. And Polaris Bank did exactly as it promised as it promptly refunded the money to Roehampton University and initiated necessary processes to streamline the refund.

The engagement began when Polaris Bank’s headquarters made the first contact at 11:48 am, and by 3:41 pm on the same day, Ife Michael confirmed that the Bank had successfully refunded the funds and

fulfilled all required procedures. The Bank also took the extra step of writing to the school to facilitate the process.

This positive outcome highlights Polaris Bank’s commitment to customer satisfaction, responsive and excellent customer service, and adherence to regulatory policies. The incident not only showcases effective conflict resolution but also underscores the power of a Bank fostering transparent communication between it and her customers.

Sports

Cristiano Ronaldo wants to leave Manchester United

Published

2 years ago

July 28, 2022

D'SHOW

Cristiano Ronaldo and his agent Jorge Mendes held meetings with United at Carrington on Tuesday, but his position remains unchanged and he wants to play for a club in the Champions League and win major trophies. United do not want him to go, however, and Ronaldo has started training with the team having missed the club’s pre-season tour of Thailand and Australia due to family reasons.

His potential options elsewhere are limited. Chelsea are not an option anymore, while Bayern Munich and Atletico Madrid appeared to publicly rule themselves out this week. “As we’ve seen on Instagram, Ronaldo has been keeping fit, so there are no concerns from Manchester United over his fitness or physical level; he’s one of the fittest players in world football.

“Ultimately, The Portuguese forward did state his desire to leave Old Trafford, but he’s running out of options, and it seems like he’s actually going to have to stay. Perhaps he will try and swing it where the 25 per cent pay cut in his contract will be waived away by United, perhaps he wants to manoeuvre and muscle a new deal, we’ll have to wait and see. But it doesn’t look like Stamford Bridge is on his cards.

“Chelsea have distanced themselves from a deal for Ronaldo, as have Bayern Munich, Napoli and a lot of other elite clubs that Jorge Mendes, who is Ronaldo’s agent, has tried to sell him to. “An offer from Saudi Arabia is astronomical but ultimately, it does not give Cristiano Ronaldo what he wants, which is that legacy. He wants to achieve Champions League records that he thinks no one else will be able to attain in the future.

“He wants to sign off at the absolute highest level. Now, it looks increasingly like he will have to stay at Manchester United because there are no biters from the big clubs.

“Everyone has their forwards already, and Chelsea, who are the only club looking like they could actually potentially be spun by what Cristiano Ronaldo offers off the pitch because we were told that Mendes, while being in front of these clubs, was putting forward his numbers in terms of social media influence, sponsorship that he rakes in, the commercial gain of his shirt sales and stuff like that. But even they now say he is not in their plans. Their immediate aim is to strengthen the defence.

“So, that leaves Ronaldo really with not many choices. We know that he does want to be competing at the highest level so if he does go to Saudi Arabia that cuts against everything he has said and everything we actually know about him and his career.

“Manchester United have always been very calm and very comfortable. They have insisted he is not for sale, and he will see out the last year of his contract. How they manoeuvre this now going forward we’ll see, but Ronaldo is keeping fit, so they have no issues or problems or fears over what state he’ll report back to pre-season in.”

CONVOCATION: GRACE NATION BIBLE INSTITUTE GRADUATES 120 STUDENTS

Published

3 years ago

April 4, 2022

D'SHOW

-you must remain a good Ambassador of Christ- Chris Okafor

No fewer than 120 certified Trained Prophetic students of Grace Nation Bible Institute graduated today after they have gone through rigorous prophetic training by the best Teachers Supervised by the anointed servant of God Dr. Chris Okafor. The student was presented with their certificates at the special convocation ceremony held at the International Headquarters of Grace Nation(GBI) in Ojodu Berger Lagos Nigeria. According to the Rector of the institute, they satisfy all requirements and conditions to be awarded a diploma certificate in various fields of Prophetic and Bibles knowledge.

In his words of Encouragement, the President of Grace Nation Bible Institute, Dr. Chris Okafor remarks that he has no doubt in his mind that all the students are well-trained judging by the level and capacity of all the resource Personality who lecture them, train and retraining them to face any challenges that come there ways,
The Apostle of altars also challenged them to be a good ambassador of the school to the outside world through soul-winning to the kingdom of God.

The Generational Prophet of God also remarked that as you have all learned, you must put the name of a school in good repute and always ready to work for the Lord at any time

Some of the course covered in the 8weeks program includes Evangelism and soul-winning, spiritual development and Human Management to mention but few

The highlight of the convocation was the Presentation of Certificates to all the students, according to the Rector all the students perform excellently well

Earlier in his sermon, the Senior Pastor Grace Nation and the Generational prophet of God Dr. Chris Okafor teach on the series, ”The Covenant Day of Settlement” said settlement comes when you fulfill all the Principles of Settlement,
the man of God said nothing come free but when you applied the principles and follow it diligently you will easily get a settlement on all side

The realm of the Prophetic witnessed another higher dimension of Prophetic movement and deliverance through the Set Man, the Generational Prophet of God Dr. Chris Okafor, He visited many family altars and set many captives free, he also delivered people with blood-line diseases while delivering miracle babies to expectant mothers

The service came to a close with a special Prayer for the Set Man, the Generational Prophet of God Dr. Chris Okafor who will be making another birthday tomorrow, 4 April 2022.