Freezing of Customer’s Account by a Bank on Mere Direction of Economic and Financial Crimes Commission (EFCC): Legality or Otherwise

Generally speaking, the relationship between the Bank and its customers is contractual. Contract therefore, is a legally and enforceable binding agreement which recognises and governs the rights and duties of the parties to the agreement. Put rather nakedly, a contract is a duty fixed by the parties, the breach of which confers on the aggrieved … Continue reading Freezing of Customer’s Account by a Bank on Mere Direction of Economic and Financial Crimes Commission (EFCC): Legality or Otherwise

Security of Customer’s Funds In Failing Banks

More than 70% percent of Nigerians have an account in a bank and this statistic keeps on increasing daily. As a result of the responsiveness of commercial banks in Nigeria, more and more Nigerians presently are comfortable with storing up their life savings and petty cash in these commercial banks. Despite this fact, a fear … Continue reading Security of Customer’s Funds In Failing Banks