Court orders bank to pay Abuja firm N256m over breach of contract agreement
High Court Orders Globus Bank to Compensate Haril Global Solutions Ltd N256 Million
The High Court of the Federal Capital Territory, led by Justice Christopher Oba, has ruled that Globus Bank Ltd must pay N256 million to Abuja-based Haril Global Solutions Ltd for breach of contract.
In the case marked FCT/HC/CV/1456/2026, Haril Global Solutions Ltd, along with individuals Chinedu Mba and Idris Olayiwola, and the Economic and Financial Crimes Commission (EFCC), were named as defendants in a counterclaim filed by the bank.
Haril Global Solutions initiated the lawsuit via a Writ of Summons, alleging that Globus Bank violated a contractual agreement and made wrongful deductions totaling millions of naira.
In delivering the judgment, Justice Oba confirmed the existence of a valid contract between the claimant and the defendant, originating from a letter of facility offer and an overdraft facility agreement, both dated July 4, 2023.
The court ordered Globus Bank to refund N109 million, which it had improperly withdrawn from the claimant’s Debt Service Reserve Account and transferred to the overdraft account on December 29, 2023. This action was found to contravene the terms of the agreements signed on the same date.
Additionally, the court mandated the return of N26,076,388.32 withdrawn without authorization from the claimant’s account on January 31, 2024, despite the plaintiff having a Post-No-Debit restriction in place. A similar ruling was made for N15 million wrongfully taken on February 6, 2024, under the same circumstances.
Justice Oba further awarded N5 million in general damages to Haril Global Solutions for the breach of contract, as well as N1 million to cover legal costs.
The court found that Globus Bank’s actions violated the terms outlined in the agreements from July 4, 2023. In its ruling, the court stated, “The contract between the claimant and the defendant is discharged by the breach occasioned by the defendant.”
However, the court dismissed the counterclaim from Globus Bank, citing a lack of credible evidence to support its allegations of fraud and unlawful interference by Haril Global Solutions. The bank had claimed that the claimant manipulated transactions to favor its own account but failed to provide adequate evidence, such as identifying specific merchants involved.
The court remarked that a police investigation report referenced in the case did not implicate the claimant in fraud, noting discrepancies between the alleged figures in the claim and the investigation report.
Justice Oba concluded, “The counter-claimant has failed to discharge both the legal and evidential burden of proof required by law,” and dismissed the counterclaim for lack of merit.
The judgment underscores the judicial system’s commitment to uphold contract laws and consumer rights in commercial disputes.
