In a judgment delivered by hon. Justice Latifat Folami, The High Court of Lagos State has ruled against Zenith Bank in a case where the bank had refused to allow the claimant; Mrs Olufunmilayo Oluyede one of the top ranking Nigerians in the IBA to operate a current account which she had opened to enable her receive registration fees from participants and contributions from sponsors to meet the expenses of an important and timely International Bar Association (IBA) Transnational Crime Conference in 2015 even after she had fulfilled all conditions for operating the account and done all necessary documentations.
The conference had been scheduled to hold in Nigeria but could not hold due to the act of the bank which made funds dedicated to the project inaccessible.
The action by the bank had sabotaged and caused a cancellation of the conference intended.
The court ruled in favour of the claimant Mrs Oluyede; declaring that the bank’s conduct was unjustifiable and a reckless sabotaging of the intended conference.
The court awarded a post Judgement interest and directed the bank to pay over to the claimant or any person nominated by her the entire sums detailed in the two accounts that had been opened for the conference without any deductions for any reason.