This will be Maybe not new legal condition

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

:: Point 2 Debts away from Replace Work 1954 defines a good banker since the a body regarding individuals whether or not included or otherwise not which continue the organization off banking. This definition was wrong while the Part dos of Finance companies and you may Other Financial institutions Work causes it to be an ailment precedent to possess people carrying on banking organization is incorporated.

:: Of the Part dos of the Facts Act, a man, union or company carrying on the organization of banking. Equivalent definition provided by Area 41(1) of the Banking Decree.

The new belief of the director to own giving unlawful fund is quashed on the floor the banker instead of the movie director need to own already been prosecuted given that banker consumer relationships are you to out of borrower-creditor

:: A financial team could have been defined when you look at the Section 66 BOFIA given that the firm from getting monies… granting loans… anticipate regarding credit, expense, datingranking.net/escort-directory/arlington/ cheques, get and you can deals out-of securities… anyone else due to the fact minister could possibly get employ.

Therefore, a great banker relates to a family which had been provided and you can licensed to keep banking team. Age.g. Stanbic IBTC, GTB, UBA and the like.

This new court stored that the banker-customer dating are ranging from A and also the financial regardless of your account try opened into the B’s identity just like the bank only realized A great

:: During the ordinary conditions, he is thought to be a guy purchasing the services and products or employing the services of some other. It is but not crucial that you know the rigorous court meaning of a buyers in order to discover whom the bank 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 certainly a free account toward bank. 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 conclude, all the case need to be computed alone merits. The latest process of law may impose an obligation out of care and attention towards an effective banker according to characteristics of the deal together with needs off fairness and you will equity notwithstanding that any particular one doesn’t always have an enthusiastic membership on lender.