In a court case between a bank customer and Access Bank Plc, a crucial issue on the legality of deductions made from the plaintiff’s account was brought before the Federal Court in Ibadan. Indeed, during his appearance before the Court and in his initial affidavit, Sanusi disclosed that he had a savings account with Access Bank Plc.
He raised the fact that the bank was deducting more than ₦50 as e-tax as stipulated by the Finance Act. According to the law, banks should deduct a flat rate of ₦50 for transactions above ₦10,000. However, Sanusi found that the bank was deducting ₦100, ₦250 or even more from his account as the Federal Government’s e-tax.
He stressed before the Court that any deduction from customers’ accounts must comply with the Central Bank of Nigeria (CBN) Guidelines 2020 and other financial institutions laws. Sanusi also argued that the guidelines were the only legal basis for banks to make deductions from customers’ accounts.
In his submissions, Sanusi prayed the Court to grant all his requests, including compelling Access Bank to cease making deductions from his account and to return the amounts unlawfully deducted from his account on March 27, 2020, until judgment is delivered. He also claimed that the bank should pay him ₦100 million as exemplary damages for the improper deductions made to the Federal Government without his authority.
In response, Access Bank’s representative, Ahmed Adeleke, informed the Court that he had filed a counter-affidavit and supporting documents to defend the case. He said the bank had reviewed the plaintiff’s account statements over a period of three months to justify the deductions made.
According to Adeleke, the bank had never deducted more than the statutory amount, based on the plaintiff’s transactions during the months studied. He then asked the Court to dismiss the plaintiff’s argument and order him to pay substantial fees.
The case raises critical issues on compliance with banking laws, consumer rights and transparency in financial transactions. It remains to be seen how the Court will rule on the case which could potentially have repercussions in the banking sector in Nigeria.