“Disclosure Was Wholly Unauthorised” — Company, Majority Shareholder Sue FCMB For ₦5bn Over Release Of Account Statement To Third Party

A company and its majority shareholder have sued First City Monument Bank for N5 billion at the High Court of the Federal Capital Territory, alleging that the bank disclosed the company’s account statement to a third party with no mandate to receive it.In a letter dated 8 July, the bank had already told the claimants’ solicitors that the disclosure was “wholly unauthorised”, that it had disciplined the officer involved, and that it “unreservedly apologizes”.