Firm drags Zenith Bank to court over €7,491 transaction

Zenith-Bank-504x291The management of Emil Walson Nigeria Limited has dragged the Zenith Bank Plc before an Igbosere Magistrates’ Court in Lagos, Southwest Nigeria for allegedly refunding the sum of €7,491,33 paid into their account domiciled with Zenith Bank by their oversea business partner back to them without their consent.

The trial of the case in suit No MCL/1085/2013 which commenced in 2013 came up on 15 April, 2016 before magistrate Mr W.B Balogun of Court 7 but the trial could not go on so the magistrate had to adjourn the case till 20 April, 2016 for the continuation of trial.

The legal counsel to the claimant, Patrick Mbanefo Odozi Esq of Lexis Legal in their claims told the court that his client, Emil Walson Nigeria Limited is a company duly incorporated under the laws of the Federal Republic of Nigeria with office at 4, Liberty close, Baruwa, Ipaja,Lagos.

He said the claimant is in the business of export and import of goods and services including the export of Special African Charcoal to its business partners and customers abroad.

He noted that the claimant maintains corporate accounts at the Dopemu Branch of Zenith Bank as follows; Account Nos 50701883464 as dollar domiciliary account; 1010625249 current account and 5080038435 as euro domiciliary account.

Odozi told the court that the case of the claimant against the defendant came up On 11 July 2012 when the claimants domiciliary account with the defendant was credited from the claimant’s oversea customer with the sum of 7,491,33 euros which is equivalent to N1,573,179.30 which represents the proceeds of a 40ft container of African Charcoal exported by the claimant to its customer DHG Polska Poland.

He said on the same 11 July, 2012, the Managing Director of the claimant, Mr Adewale Robinson Adebanwo received a telephone call from the bank’s branch account officer at the Dopemu branch of the defendant, one Mr Tunde Terebo that the euro amount of the sum of €7,491.33 had been received into the company’s account and that the bank wanted to know if the claimant was expecting any payment in foreign currency, and the claimant confirmed the inquiry and said Yes.

He said the account officer of the bank requested for documentary evidence to show that the company has a business transactions with the sender of the money and the documents were presented to him.

Odozi said on 17 July, 2012 the claimant went to the bank to access the money but was shocked to learn from one Ms Yetunde and Mr Tunde Terebo that the money had been returned to the sender in error without any recourse to the claimant.

He said the bank promised to do every thing possible to contact the sender to return the money back, adding that, the claimant approached the court when the money was not forthcoming.

The defendant in its statement of defence denied almost all the claims but admitted that they received an oversea inflow in the sum of €7,491,33 on 10 July, 2012 meant to be applied for the claimant but that the claimant did not have a euro domiciliary account with the defendant in which to apply the fund.

Speaking with newsmen at the court premises, Patrick Mbanefo Odozi ESQ said he will prosecute the case to a logical conclusion with the overwhelming evidence at his disposal.

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