Abuja -Justice Chinyere Nwecheonwu of High Court of the Federal Capital Territory sitting in Kuje, on Thursday, ordered a new generation bank to pay the sum of N34.4m damages and compensation to a Kano-based car dealer, Tripple C Motors.
Justice Nwecheonwu gave the order in a judgment on a suit by Tripple C Motors, seeking about N40m compensation against Pagmat Oil and Gas Nig. Ltd; Prudential Steps Savings & Loan, and a new generation bank.
The suit was filed on behalf of the Claimant by
Ojonimi S. Apeh Esq.
In her judgment, Justice Nwecheonwu declared that Fidelity unlawfully withheld the Claimant’s money for a period of 43 months without justification.
The court resolved the sole issue for determination of the case in favour of the Claimant, holding that the Claimant was entitled to payment of the N86million by the defendant within 30 days of the supply of the cars for and at the instance of the defendant being the value of the cars supplied for and at the instance of the defendant by the Plaintiff on 28/12/2018.
Consequently, the court made, “A declaration that the refusal and failure of the defendants to pay the Claimant the sum of N86million for supply of cars made by the claimant for, and at the instance of the defendants as at when due, renders the defendants liable to payment of compensation to the claimant for wrongly holding onto the money of the claimant in a commercial transaction.
The court also declared that the refusal and failure of the defendants to pay the Claimant the sum of N86million for supply of cars it made for, and at the instance of the defendants as at when due resulted in the loss of profits/earnings to the claimant in the sum of at least N4.3million per month for a period of 43 months cumulating loss of at least N34.4million for that period and thereby rendering the defendants liable to the claimant in damages.
Furthermore, the court made, “An order directing the Defendant to pay the Claimant the sum of N34.4million as projected returns and/or loss of anticipated profits/earnings within the 43 months the money of the Claimant was withheld.
In addition, Justice Nwecheonwu, ordered the payment of 10 percent interest on the judgment sum yearly from the date of judgment until the judgment debt is fully liquidated.
However, the court refused to grant the Claimant’s relief seeking the sum of N6million as cost of suit.
In a statement of claim, the Claimant avers that the vehicles were only delivered based on the fact that the Block Funds/Irrevocable Standing Order, dated 20th December, 2018 was issued by the bank’s Utako branch Manager and handed to Dr. Adamu Kukuri, the Claimant’s Director.
The Claimant avered that upon the expiration of 30 (Thirty) banking days after delivery of the 7 vehicles, no money was paid into her account with Zenith Bank Plc as agreed to and undertaken in the Block Funds/Irrevocable Standing Order.
In a bid to prove his case, the Claimant called one witness, in the person of Alhaji Adamu Kukuri, Director Tripple C Motors.
Both parties in the suit, had on 15 May, 2024, adopted their written addresses.
Whereas Ojonimi S. Apeh announced appearance for the Claimant, and Elvis Utulu, appearing for the Bank (1st defendant), there was no legal representation the 2nd and 3rd defendants.
Reacting on the judgment, Barr. Apeh, commended the Court’s industry and sound reasoning, saying the decision will go a long way in enriching the country’s jurisprudence. END.