Eye Opener: Customers Can Now Sue Banks On POS Failure And Get Paid, As Court Slamed N500,000.00 Fine on Polaris Bank

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By Princely Onyenwe, Abuja

“Nigerian Court Orders Polaris Bank To Pay Mrs Nwoko N500,000.00 For Refusal To Reverse Failed POS Transaction”

The High Court of Akwa Ibom State, Itu Judicial Division presided by Honourable Justice Ilaumo awarded N500,000.00 against Polaris Bank in favour of Mrs Idongesit Utibe Nwoko for failure of the bank to reverse a failed POS transaction within 72 hours as required by law.

The fact of the case is that the plaintiff used POS to withdraw N60,000.00 but the transaction failed. The Bank did not reverse the transaction within 72 hours as required by law. The Bank finally reversed the transaction after 28 days.

The plaintiff had approached the court in Suit No. HIT/2/2021 – MRS IDONGESIT UTIBE NWOKO V POLARIS BANK for redress. The court held that the bank was negligent as to it’s duty of care to his customer and therefore must pay damages of N500,000.00 to customer.

The judgment was delivered on the 4/5/2022.

9News Nigeria (Owerri) For inquiries on this news contact 9News Nigeria Imo State @08036856526

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About Princely Onyenwe 1315 Articles
Princely Onyenwe A seasoned Investigative Journalist, Civil Rights Activist, and Political Analyst, Currently Editor and News reporter with 9News Nigeria www.9newsng.com www.facebook.com/9newsng

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