A commercial bank can close a customer’s account under certain conditions, but must give reasonable notice and cannot arbitrarily forfeit or withhold...
Yes, but only if the mortgage deed was executed as a legal mortgage with an express power of sale, and the statutory...
No. A debtor in Nigeria cannot simply announce or declare themselves bankrupt informally to wipe out legitimate debts and escape legal enforcement...
A commercial bank can temporarily restrict a debit card without prior notice where suspicious fraudulent transactions are detected, but must notify the...
No. Digital loan apps and online moneylenders are strictly prohibited under Nigerian law from accessing your phone contact list or sending defamatory...
Yes. A commercial bank has a strict statutory and contractual duty to ensure that all banknotes loaded into Automated Teller Machines (ATMs)...
Yes. A commercial bank owes customers a contractual and statutory duty of reasonable care and skill in maintaining functional, secure electronic financial...
Generally no. In Nigeria, ordinary failure or inability to pay a civil debt cannot lead to criminal imprisonment. Debt is a civil...
Yes. A bank can be sued for negligence and breach of fiduciary duty where unauthorized withdrawals occur as a result of weaknesses...
Yes, in specific circumstances. A bank can freeze a customer’s account without prior notice where it receives a court order, a directive...
