In the suit marked: FCT/HC/M/6371/16, before the High Court of the the Federal Capital Territory (FCT) in Lugbe, Abuja, the plaintiff alleged that Zenith Bank, through its unprofessional handling of its (plaintiff’s) business, caused it to lose the contracts in 2014 with a Chinese company, King-Tan Tantalum Industry (KTTI), for the supply of solid minerals.
The plaintiff stated, in a writ of summons issued on its behalf by its lawyer, Innocent Daa’agba, that Zenith Bank withdrew money from its Domiciliary Account without authorisation and criminal forgery of documents with criminal intent.
Owigs and Obigs Nigeria alleged that its contract with King-Tan Tantalum Industry was terminated by Zenith with no explanation to it (plaintiff), thereby causing the plaintiff to lose the contract.
The plaintiff, therefore, claims against Zenith Bank the sum of N2 billion as damages “for the loss of goodwill and further trading opportunities with the Chinese Chamber of Commerce/ International Chamber of Commerce of Asia and local suppliers of solid minerals as well as sundry/collateral expenses incurred in securing and running three foreign contracts with Chinese firms but which were all lost as a result of the unilateral termination of these contracts by the defendant.”
Owigs and Obigs Nigeria also seeks N1billion damages against Zenith Bank as aggravated charges.
The plaintiff is seeking seven other reliefs totalling $42, 961,739.88 ( about N17 billion at current rate) from Zenith Bank, including the $4, 486.04 (being money it unlawfully withdrew from the plaintiff’s Domiciliary Account without authorisation from the plaintiff.)
The bank has denied any wrongdoing, arguing that it handled the plaintiff’s case with utmost care and professionalism.
