PATS-ACHOLONU JSC (Delivering the Lead Judgment): The respondent (the plaintiff) entered into a business relationship with one Francis Philips whereby the latter promised to secure a contract for the respondent worth $55m for the construction of the Central Bank of Nigeria between, 1992/94. The plaintiff/respondent claimed that she was induced to part with the total sum of $500,000 which was later paid into the appellant bank.
The respondent heard nothing else from the said Francis Philips and to her greatest chagrin and shock, she realised too late that she had been made to part with her money under false pretences as it turned out.
The money was paid into the joint account of Anthony Jiwueze and Francis Philips in the appellant bank. The respondent averred that the appellant was negligent in opening an account for Mr. Philips and Jiwueze without keeping to or observing the laid down standard of care and procedure in the opening and operation of an account, and that the bank did no…