A High Court of the Federal Capital Territory sitting in Abuja, presided over by Justice Christopher Oba, has ordered Globus Bank Ltd to pay a total of ₦256 million in damages to an Abuja-based firm, Haril Global Solutions Ltd, for breach of a contractual agreement.
The dispute arose after Haril Global Solutions accused the bank of wrongful deductions and violation of the terms of an overdraft facility agreement executed on July 4, 2023. The company, alongside other listed parties including the Economic and Financial Crimes Commission, brought the matter before the court seeking redress.
In its judgment, the court confirmed that a valid contract existed between both parties and ruled that Globus Bank unlawfully withdrew funds from the claimant’s accounts, including deductions from a debt service reserve account and additional interest charges despite a post-no-debit restriction placed on the account.
The court held that these actions amounted to a breach of the agreement and ordered the bank to refund the affected sums, including ₦109 million, ₦26,076,388.32, and ₦15 million. It also awarded ₦5 million as general damages and ₦1 million as cost of the suit.
Justice Oba further dismissed the bank’s counterclaim, stating that it failed to provide credible evidence to support allegations of fraud or manipulation of transactions against Haril Global Solutions. The court also noted that the police investigation report presented did not establish any wrongdoing by the claimant.
The judge concluded that the counterclaim lacked merit and could not stand in the absence of solid evidence, thereby affirming the success of the claimant’s case.
