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

:: Section 2 Costs away from Replace Work 1954 represent a beneficial banker while the a human anatomy of persons if included or not whom embark on the business out-of financial. Which definition are incorrect because the Section dos of your own Banks and Most other Financial institutions Operate will make it a disorder precedent to have people carrying-on banking team to get provided.

:: By Part 2 of the Evidence Act, men, partnership otherwise team carrying on the organization off banking. Equivalent meaning supplied by Section 41(1) of one’s Banking Decree.

Brand new conviction of director for giving illegal loans was quashed on the ground that the banker instead of the movie director ought to have been charged due to the fact banker buyers matchmaking is one out of borrower-creditor

:: A banking company might have been defined inside Area 66 BOFIA because the the business regarding receiving monies… giving funds… invited away from loans, debts, cheques, get and you will marketing out-of securities… someone else because the minister get specify.

For this reason, an excellent banker identifies a company that was included and you may licensed to continue financial team. Elizabeth.grams. Stanbic IBTC, GTB, UBA and the like.

The legal kept that banker-buyers dating was between An excellent together with lender in spite of your account is launched into the B’s label as financial simply know A beneficial

:: Into the ordinary terms, he’s considered to be a man purchasing the goods or with their the services of various other. It’s yet not crucial that you know the rigid judge meaning of a buyers to help you understand whom the lending company legally owes a duty.

:: 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 was an account on 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.

To summarize, all the circumstances must be calculated alone merits. The new courts get enforce an obligation out-of proper care toward a great banker Bridgeport escort depending on the characteristics of one’s transaction and also the needs out-of justice and you can equity regardless of that a person doesn’t have an enthusiastic account to the bank.