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N40m Suit Against Fidelity Bank, Court Admits Car Dealer’s Evidence Against Oil Firm, Others

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Fidelity

Justice Chinyere Nwecheonwu, presiding over the High Court of the Federal Capital Territory in Kuje, accepted documents and letters presented as evidence by Tripple C Motors Ltd against Pagmat Oil and Gas Nig. Ltd, Prudential Steps Savings & Loan, and a new generation bank during a session on Wednesday.

The said documents were introduced as evidence by Dr. Adamu Kukuri, the sole witness called by the car dealership to substantiate their case against the mentioned defendants. Dr. Kukuri, who is the Director of Tripple C Motors Ltd, attested to his witness statement under oath, which was then presented as evidence with the guidance of his legal representative, Ojonimi Apeh Esq.

Among the documents brought forward by Dr. Kukuri and accepted by the court were complaint letters addressed to the Central Bank of Nigeria and an interim investigation report by the police, among others.

Barrister Elvis Utulu, who represented the Fidelity bank did not oppose the admissibility of the tendered documents except three letters that were not front loaded.

But Apeh explained that though, the letters were not front loaded, “they were pleaded”.

However, Utulu insisted that he has to go through the documents to enable him prepare for his cross examination of the witness, which the court agreed as of legal right.

Dr Kukuri urged the court to give judgment in his favour by granting all his prayers.

Meanwhile, the court has adjourned to September 18, for cross examination of the claimant’s witness.

Earlier in the proceeding, Apeh had informed Justice Nwecheonwu, that Pagmat Oil and Gas Nig. Ltd; and Prudential Steps Savings & Loan (2nd and 3rd defendants) respectively, have not been appearing in the matter, despite being served with hearing notices.

By the suit, Tripple C Motors is claiming against the defendants jointly and severally, the sum of over N40million as compensation for unlawful withholding of it’s money for a period of 43 months.

Consequently, the claimant wants the court to declare that the refusal and failure of the defendants to pay it the sum of ₦86,000,000.00 (Eighty-Six Million Naira Only) 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 N4,300,000.00 (Four Million Three Hundred Thousand Naira) only per month for a period of 43 months cumulating loss of at least N34,400,000.00 (Thirty-Four Million, Four Hundred Thousand Naira) only for that period and thereby rendering the defendants liable to the claimant in damages.

“An order directing the defendant to pay the claimant the sum of N34,400,000.00 (Thirty-Four Million, Four Hundred Thousand Naira) only as projected returns and/or loss of anticipated profits/earnings.

They also want twenty percent interest on the judgment sum per month from the date of judgment until the judgment debt is fully liquidated.

“An order directing the defendants to pay the claimant the sum of ₦6,000,000.00 (Six Million Naira) only as cost of this suit.

“An order directing the defendant to pay to the plaintiff an amount which is equal to 20% (twenty percent of N86,000,000.00 (Eighty-Six Million Naira Only) per annum from 12/02/2019 when the said sum of N86,000,000.00 (Eighty-Six Million Naira Only) was due but not paid by the defendant until 06/10/2022 when the defendant paid the claimant the principal contract sum of N86,000,000.00 (Eighty-Six Million Naira Only) as compensation for the wrongful withholding of claimant’s money in a commercial transaction for a period of over 43 months without justification.

Twenty percent interest on the judgment sum per month from the date of judgment until the judgment debt is fully liquidated.

“An order directing the defendants to pay the claimant the sum of ₦6,000,000.00 (Six Million Naira) only as cost of this 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 fidelity bank’s Utako branch Manager and handed to Dr. Adamu Kukuri, the Claimant’s Director.

The Claimant averred 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.

Source:- TheTimes

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