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Contract default: Court adjourns suit against bank

By Innocent Anaba

JUSTICE Grace Onyeabor of a Lagos High Court, Igbosere, has adjourned till June 13, 2012 for hearing in the N15 million suit against First Bank of Nigeria Plc, by a Lagos based businessman, Joseph Agulefo over alleged contract default.

The court adjourned the matter, following a letter written to the court by the counsel to the bank, explaining his inability to be present in court when the matter came up.

Agulefo in the suit, started in 2005 and relisted in 2008, claimed that sometimes in 1983, he applied for and paid the defendant for the purpose of various LC and DP bill totaling $20,254 in the following order $6,000, $7,500; $4,004 and $2,500, to be remitted to his overseas Business Associate, Stylette garment Factory Limited to Hong Kong for the payment of goods, mainly brassieres with the name of the claimant imprinted  on them.

Meanwhile, the bank has denied owing him, insisting that it repaid the money in full. Agulefo said he had made several visits and wrote several demand letters from the bank to remit the monies  to his associates in Hong Kong but the defendant refused  and/or neglected to remit the money and withheld  same.

According to him, the bank’s failure, refusal and or neglect to refund the said sum, despite repeated demands from them, he had to institute a legal action.


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