A customer, First Tirad Global Resources Ltd, and its majority shareholder have instituted a suit against First City Monument Bank (FCMB) Ltd at the High Court of the Federal Capital Territory (FCT), Abuja, over an alleged unauthorised disclosure of the company's account statement. The claimants, represented by Oluchi Vivian Uche, Esq., Okueyelegbe Sylvanus Maliki, Esq., and others, are seeking N5 billion in damages for alleged breach of confidentiality, negligence, and invasion of privacy.
According to the statement of claim, First Tirad Company maintained a corporate account with FCMB, with the 2nd Claimant listed as the sole authorised signatory. The claimants alleged that a third party, who had no authority or mandate to access the account or obtain its financial records, obtained the company's account statement through a serving FCMB account officer, identified as Olutunde Oyasola.
The claimants alleged that on April 8, 2026, the third party contacted a former FCMB account officer, identified as Taofeeq Are, through WhatsApp, requesting the company's account statement covering January 1 to April 8, 2026. Oyasola allegedly generated the statement and sent screenshots to Are, who subsequently forwarded them to the third party through WhatsApp.
The claimants contended that the transaction was unauthorised and constituted a breach of the bank's duty to safeguard the confidentiality of its customers' financial and commercial information. The 2nd Claimant specifically alleged that the statement contained sensitive information, including details of a rent payment, which compromised her residential address and exposed her personal information.
The claimants said they subsequently lodged a complaint with FCMB, demanding an investigation into how the statement was obtained and disclosed to an unauthorised third party. FCMB, in a letter dated July 8, 2026, allegedly admitted that the disclosure was "wholly unauthorised" and inconsistent with its internal policies, data protection obligations, and ethical standards.
The claimants are asking the court to declare that the disclosure was unlawful and constituted a breach of the bank's duty of confidentiality to First Tirad Global Resources Ltd. They are also seeking a declaration that the unauthorised disclosure of confidential information relating to the company and the 2nd Claimant's personal affairs violated applicable privacy and data protection obligations.
Key points
- The claimants are seeking N5 billion in general, aggravated, and/or exemplary damages for alleged unauthorised disclosure, breach of confidentiality, negligence, breach of contractual and statutory obligations, invasion of privacy, and consequential losses.
- FCMB has yet to file a response to the allegations as of the time of the report.
- The claims remain allegations before the court, and the court is yet to determine the matter.
