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Bank delays compliance with payment of N10m damages


Several months after a Lagos high court ordered Skye bank Plc to pay N10 million into an interest-yielding account in the name of the Chief Registrar of the court, the bank is yet to comply with the order.

Trial judge, Justice Omobolanle Okikiolu Ighile had ordered that the money should remain in the account pending the outcome of an appeal filed by Skye Bank against an earlier judgment of the court.

The judge had in her judgment delivered on April 28, 2016 in favour of a Nigerian writer, Odafe Atogun, ordered Skye Bank Plc to pay him N10 million as general damages. Justice Ighile held that the bank was negligent when it paid €6,000 Western Union Money Transfer to an impostor.

Dissatisfied, Skye Bank filed a Notice of Appeal and urged the court to stay execution of judgment pending the final determination of the appeal. But, Justice Ighile in her ruling stated that after examining the grounds of Appeal canvassed in the Notice of Appeal there was no “condite point of law” to justify the grant of stay of execution adding that the grounds were ordinary”.

The judge stated that in order to protect the res and in balancing the interest of contending parties, the judgment sum of N10 million should be paid into an interest-yielding account in the name of the Chief Registrar of Lagos high court.

Despite the ruling, the judgment sum is yet to be paid into the coffers of the court. The claimant had in his statement of claim dated July 31, 2009 filed by his counsel, Pascal Ememonu, accused the bank of being negligent in handling the €6,000 sent to him by one Hudson Killeen from Ireland for the purpose of establishing a printing press in Nigeria.

But, the bank had in its counter affidavit, contended that the High Court of Lagos state lacks the jurisdiction and competence to adjudicate on the suit being a claim arising from money transfer agreement between one Kevin Fuller and Western Union in the Republic of Ireland.

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Skye Bank
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