Alleged N219m Fraud:  Customer  Battles Sterling Bank 

One of the new generation banks in Nigeria, Sterling Bank PLC will be facing a legal battle to explain reasons behind the inability of a client, OHHA Microfinance Bank to access its N219,000,00.00 trapped in Sterling bank.
A letter dated February, 20th, 2018 from the Chamber of Festus Keyamo, SAN, to the Managing Director of Sterling Bank is seeking an explanation.
It stated that his client has a two deposit accounts with the bank with No.514/1152051/74/0 deal Ref. Slip No. DD No 0138058 and Account No.514/11520505/1/74/1 Deal Ref. Slip No. DD No.0133049.
“That they have operates the said accounts with you for some years and deposited the sum of N 219,000,000.00 in the said deposit accounts through your Branch Manager, Market Road Branch, Enugu State, Mr Oliver Anidiobi who also doubles as its Account Manager,” the letter reads.
“Our client was surprised when it instructed you to terminate the Fixed Deposit and Credit its Current Account on maturity with the principal and accrued interest but you remained adamant. Consequent upon your failure to carry out its instruction, it briefed the law firm of O. A. Omotayo & Associates who made the same demands to you but you responded reluctantly wherein you admitted the existence of the said accounts but denied the existence of any fixed deposit investment by our client. You further claimed that the Deposit Certificate presented to our client were forged and tried to defend Mr. Oliver Anidiobi whom you also admitted to have handed over to the law enforcement agents in connection with allegations of forgery,” it added.
The letter continues, “Having admitted that your staff Mr. Oliver Anidiobi is liable for forgery which same offence has been committed while he was in your employment, we make bold to say you are vicariously liable for whatever Mr. Oliver Anidiobi would have done in the normal cause of his business as your Branch Manager. It is no doubt, you employed the said Manager and presented him as a worthy staff for unsuspecting customers to deal with him which our client did in good faith. It is safe to infer that you have defrauded our clients of the sum of N219,000,000.00 (Two Hundred and Nineteen Million Naira)”.
The Complainant is thus demanding immediate return of the money within 7 days from the date of service of the letter or face legal option.
“Consequently, we have our client’s instructions to demand that you credit its Current Account with you: 0023325543 with the sum of N219,000,000.00 (Two Hundred and Nineteen Million Naira) within SEVEN (7) DAYS from the date of service of this notice on you, failure to yield to our demands shall leave us with no option than to set all the machineries of law in motion to ensure our client’s investments with accrued interest in the above mentioned accounts are duly recovered,” it concluded.