Firm drags Access Bank to court for breach of contract, demands N12.bn

Chuddy Goodness Investment Ltd, a firm owned by Chukwudi Goodness Okonkwo, has asked Justice W. Animahun of a Lagos State High Court to compel Access Bank Plc to pay it N12, 866,421,700.00 for alleged breach of contract.

The firm and Okonkwo made the prayer in their amended statement of defence and counterclaim dated January 23, 2020 in the suit marked LD/3304CMW/17 against the bank.

A similar suit involving the same amount marked FHC/L/CS/2369/2019 between the firm and the bank is currently pending before Justice Chukwujekwu Aneke of a Federal High Court in Lagos.

In it, the plaintiffs through Adetunji Adedoyin-Adeniyi, their lawyer, claimed that the sum arose following alleged breach of fiduciary duties, excess bank charges/deductions; excess payment and unauthorized/illegal withdrawals from its account number: 0690227859 with the bank.

But, the bank in its statement of defence denied being in breach of contract.

Access Bank through E. D. Onyeke, its lawyer, averred that the firm and Okonkwo were not entitled to any sum, but are rather indebted to the bank to the tune of N2, 152,831,027.

In the suit, the firm averred that in the course of its business relationship with the bank, it was granted facilities contained in the bank’s offer letters of July 22, 2014 and September 19, 2014, to facilitate its business.