Car Dealer Sues Fidelity Bank, Others for N40m Over Alleged Withholding of Money

An FCT High Court sitting in Kuje on Wednesday fixed September 13 for definite hearing of a suit seeking over N40 million compensation against Pagmat Oil and Gas Nig. Ltd, Prudential Steps Savings & Loan and Fidelity Bank.

Justice Chinyere Nwecheonwu fixed the date after the plaintiff’s lawyer, Ojonimi Apeh, sought a short adjournment to enable him call the sole witness in the matter.

Mr Apeh filed the suit on behalf of a Kano-based car dealer, Tripple C Motors Nigeria Ltd.

There was no legal representation for Pagmat Oil and Gas Nig. Ltd (second defendant) and Prudential Steps Savings and Loan (third defendant) despite being served with hearing notices.

The judge consequently adjourned the matter until September 13 and 14 for definite hearing.

The plaintiff is claiming N40 million as compensation for unlawful withholding of his money for a period of 43 months.

Tripple C Motors wants the court to declare that the refusal and failure of the defendants to pay it the sum of N 86 million for the supply of cars it made at the instance of the defendants as of when due resulted in the loss of profits/earnings to the claimant.

The company alleged that it lost N4.3 million per month for a period of 43 months at cumulating loss of at least N34.4 million for that period and thereby rendering the defendants liable to the claimant in damages.

In a statement of claim, the claimant noted that the vehicles were only delivered based on the fact that the block funds/irrevocable standing order dated December 20, 2018, was issued by the bank’s Utako branch manager and handed to Adamu Kukuri, the claimant’s director.

The claimant further noted that upon the expiration of 30 banking days after delivery of the seven vehicles, no money was paid into her account with Zenith Bank Plc as agreed to and undertaken in the block funds/irrevocable standing order.