Access Bank Hit with N100m Suit over Alleged Unlawful Deductions

Mr. Junaid Sanusi, a legal practitioner, has filed a lawsuit against Access Bank Plc, seeking N100 million in damages for allegedly making unauthorized deductions from his savings account.

Appearing before the Federal High Court in Ibadan on Monday, Sanusi argued that Access Bank had unlawfully deducted amounts exceeding the N50 electronic levy mandated by the Finance Act of 2019.

Sanusi, a long-time customer of Access Bank, said, “What is provided in the Finance Act is that banks should deduct N50 once for transactions above N10,000. However, I noticed deductions of N100, N250, and other amounts from my account under the guise of an FGN electronic levy.”

He further emphasized that any deductions made by banks must adhere to the Central Bank of Nigeria (CBN) guidelines of 2020 and other relevant Financial Institution Acts.

According to him, these regulations are the only legal frameworks allowing banks to deduct charges from customers’ accounts.

“The court must determine whether it is lawful for the defendant to make unauthorized deductions from my account for the Federal Government or any third party beyond what is stipulated by the CBN guidelines and the Finance Act,” Sanusi said.

In his plea to the court, Sanusi requested an injunction to stop Access Bank from making further deductions on his account and to reverse all previously deducted funds since March 27, 2020.

He also sought an additional N100 million in exemplary damages for the wrongful deductions made without his authorization.

In response, Mr. Ahmed Adeleke, counsel for Access Bank, submitted a counter-affidavit and supporting documents.

He explained that the bank had reviewed Sanusi’s account statements from March 1, 2020, to May 29, 2020, and asserted that all deductions made during this period were in compliance with the law.

Adeleke urged the court to dismiss the plaintiff’s claims, stating that Access Bank had not charged more than the legally stipulated amount during the period in question.

Following the presentations, Justice Uche Agomog adjourned the case until November 12 for judgment.