Union Bank has been ordered to repay a N34 million illegal deduction from a customer’s account. This directive was given by a Lagos High Court presided over by Justice Morenike Obadina.

The court based the ruling on a revelation that Union Bank failed to support claims that the N34m deduction were remitted to the Central Bank of Nigeria for “series of foreign transaction between the customer and foreign partners.”

The customer identified as Prince Nwokocha Ezikpe and his company- Felimex Nigeria Limited, instituted the court action against the bank when the Central Bank denied receiving the remittances.

See details here: http://premiumtimesng.com/business/135111-union-bank-ordered-to-refund-n34m-fraudulent-deduction-from-customers-account.html

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