By the suit marked CV/1710/19, Adewoye is claiming against the defendants jointly and severally, special damages to the tune of N2, 985,889.88k and general damages in the sum of N50 million.
Adewoye is a current account holder with Safetrust (1st defendant) while Sterling Bank (2nd defendant) is the banker to Safetrust Mortgage Bank Limited.
Adewoye stated that he was encouraged to invest N6 million with Safetrust, having been assured that it has backings of Sterling Bank plc.
The claimant said the terms of investment was contained in the confirmation of terms of investment letter, written by Safetrust Mortgage Bank Ltd, dated September 20, 2018.
“By the terms of the confirmation of investment, the amount due to the claimant at maturity on December 18, 2018 was N6,173,096.
In his statement of claim dated April 24, 2019, Adewoye stated he wrote to the bank on December 19, 2018, informing it that the investment should not be rolled over.
“On the 19th of December, 2018, the claimant vide his bank cheque instructed the 1st defendant to credit one Bode Adebayo’s GTB account number (006286973) with the sum of N500,000 only,” he said.
Also, the claimant said he directed Safetrust to credit the sum of N5,670,000 only to Ademola Adewoye’s Access Bank account with number 0035145112.
However, despite the instructions, the claimant said the 1st defendant did not honour the cheque nor return same.
The claimant said he had made several visits and calls at the Abuja office of Safetrust, “yet no reason was given for not honouring the cheques.”
But after much pressure, Safetrust transferred the sum of N500, 000 into Bode Adebayo’s GTB account while only N670, 000 was transferred to Ademola Adewoye’s Access Bank account.
Though, Safetrust assured the claimant that it would pay the outstanding on or before December 31, 2018, it never did, rather, “the defendant was paying in installments at their own pace and pleasure, without considering the plight of the claimant,” it was alleged.
Between January and February 2019, the sum of N2 million was paid to the claimant by the defendant.
However, on the strength of the credit standing which stood at N3, 004,459.88k, the claimant issued cheques in the sums of N350, 000 and N500, 000 to Sunday Dada and Kola Olayode & Partners respectively, which eventually were honoured.
But the cheque of N2 million issued in the name of Fine Food and Right Drink was returned.
According to the statement of claim, “That as it stands, based on the fact that the cheque was returned, the claimant is likely to face a criminal charge for issuing ‘dud cheque’.
The claimant said the inability to honour the N2 million cheque it issued despite having funds in his account is very embarrassing, ridiculous and a breach of bankers- customers relationship on the part of Safetrust.
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