For that reason, he’s claiming N25 million as special and general damages. According to his writ of summons, he had been enjoying credit facilities from the Osogbo branch of the bank since 2008. In February 2009 however, he applied for a personal loan of N3 million – which was granted on February 23 via a letter with reference number FD/AO/AA/23/02/2009.
“The loan was repayable in two equal monthly installments with an interest of 25 percent per annum and management fee of two percent flat per quarter in outstanding facility amount payable upfront”. Unfortunately, according to Iseyemi, the bank went contrary to their agreement along the line, tampering with his account in the process.
Maintaining that he had started re-paying the loan when sometime in 2011 he “uncovered a lot of manipulations by the defendant in his account”, he has now rushed to the court to seek redress. The matter came up for hearing recently and from what we were told, more shocking revelations will still follow. Diamond Bank Plc is one of Nigeria’s leading banks. Headed by Dr. Alex Otti, a first class graduate of the University of Port-Harcourt, banker/customer palaver is not new to them.
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