:: In Akanle V Reginam, the court noted that “banker” refers to the company licenced to carry on banking business.

:: Area 2 Expense off Replace Work 1954 talks of good banker once the a body out-of people if or not provided or otherwise not which go on the firm off financial. Which meaning are faulty just like the Point 2 of the Banks and Almost every other Loan providers Operate causes it to be an ailment precedent getting people carrying on financial company as provided.

:: Because of the Section dos of your own Proof Work, one, partnership otherwise business carrying-on the company out of banking. Equivalent meaning offered by Area 41(1) of your own Banking Decree.

The latest belief of one’s movie director having giving illegal funds is quashed on to the floor that the banker rather than the movie director ought getting started prosecuted while the banker customers relationship try one out-of debtor-creditor

:: A financial business might have been outlined during the Part 66 BOFIA since the business out-of finding monies… giving finance… anticipate regarding credits, expenses, cheques, purchase and you will product sales from bonds… others because the minister can get specify.

Thus, a beneficial banker describes a family which had been included and authorized to continue banking team. Elizabeth.grams. Stanbic IBTC, GTB, UBA etc.

The latest court held your banker-customers matchmaking are anywhere between An effective as well as the bank despite the membership is actually exposed inside the B’s term once the bank just understood A great

:: Within the ordinary words, they are regarded as one buying the items otherwise Boston chicas escort employing the expertise of various other. It’s yet not important to be aware of the rigorous judge meaning of a consumer so you can understand whom the lending company lawfully owes an obligation.

:: In Ladbroke and Co V Todd, the court held that to qualify as a customer, one must have an account with the bank. Same position was followed in Commissioners of Taxation V English Scottish and Australian Bank, where it was held that duration was irrelevant offered there is a merchant account into financial. In Woods V Martins Bank, the court noted that a finalised agreement to open an account could suffice notwithstanding that no actual deposit has been made. In Robinson V Midland Bank, where A opened an account in B’s name. In Great Western Railway Company V London and County Banking Co, one Huggins had been cashing cheques over the counter at the defendant bank for almost 20 years. The court held that since Huggins had no account with the bank, he was not a customer. Similarly, in Ademiluyi and Lamuye V ACB, A and B (prominent members of a ruling party; NCNC) opened an account with ACB. ACB believed that the account was opened on behalf of NCNC whom they regarded as their customer. “A” sought to cash money from the account but NCNC countermanded the cheque. The court held that the countermand by NCNC was ineffective because the banker-customer relationship existed only between ACBank and AandB who were the account holders.

A SHIFT IN POSITION: The cases of Hedley Byrne Co V Heller and Partners and Agbonmagbe Bank V CFAO Ltd the courts drawing from the decision of Donoghue V Stevenson, have held that a bank can be liable in negligence to a person notwithstanding that he does not have an account with the bank so long as it is reasonably foreseeable that they shall be affected by the bank’s negligence.

In conclusion, every circumstances have to be determined on its own merits. The new courts could possibly get demand a duty out-of care and attention towards a good banker depending on the nature of your own purchase plus the need off justice and you may equity notwithstanding that a person does not have a keen membership to the financial.