A declaration that the detention by the bank of the sum of $523,793.76 (Five Hundred and Twenty-Three Thousand, Seven Hundred and Ninety-Three Dollars, Seventy-Six Cents) standing to the Credit of the Company in her account from 27th January 2023 till 27th March 2023,constitutes a breach of contract between the company and the bank.
A declaration that the detention by the bank of the sum of and$523,793.76 standing to the Credit of the Company in her account from 27th January 2023 till 27March 2023, constitutes a breach of fiduciary duty owed to the Company by the bank.
An order directing the bank to pay the Company the sum of $1,140,000(One Million, One Hundred and Forty Thousand Dollars) being special and aggravated damages for economic loss, loss of business and reputational damage suffered by the Company as a result of the breach of contract, fiduciary duty and neglect of the bank,respectively.
An order compelling the CBN in exercise of its regulatory and supervisory functions over the bank to impose penalties and sanctions on the Suntrust bank for the unjustified and illegal detention of the Company’s $383,290.12 (Three Hundred and Eighty-Three Thousand, Two Hundred and Ninety Dollars, Twelve Cents); without any reasonable cause or lawful justification.
The sum of N5,000,000 (Five Million Naira) only in favour of the Company and against the bank, being cost of instituting this action.
Pre-Judgement interest on the sum of $1,140,000 (One Million, One Hundred and Forty Thousand Dollars) at the rate of 20% per annum; from the 25th day of January 2023 until Judgement is delivered.
Post Judgment interest at the rate of 20% per annum from the date Judgement is delivered until final liquidation.
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