Woman Who Drags Polaris Bank to Court Wins N500,000 as Compensation, over N61,000 Failed POS Transaction

    Published By:

    One Nigerian Civil Servant and Polaris Bank Customer Identified as Mrs. Idongesit Nwoko has been awarded with the sum of N500,000 compensation by the State High Court in Akwa Ibom State as damages for a failed Point of Sales (POS) transaction.

    Justice Bennett Ilaumo of the State High Court in Akwa Ibom State, gave the directive on Wednesday, 4th May 2022 for the bank’s failure to reverse the customer’s money within the 72-hour time frame required by the Nigeria Constitution.

    During the court hearing, Mrs Nwoko stated that she made a N61,000 POS withdrawal on December 24, 2021, and she was debited without payment.

    According to Premium Times, the plaintiff claimed that she made several efforts, and Multiple visits to a branch of the bank, and the money was not reversed until after 28 days.

    Dissatisfied with the bank’s feedback to her complaint, She sought redress against Polaris Bank, through her lawyer, Utibe Nwoko, asking for her money and compensations.

    After considering the case presented to Justice Ilaumo of the State High Court in Akwa Ibom and the Defence by the bank’s lawyers ruled that the plaintiff should get a Compensation of N500,000 because the bank was negligent in the discharge of its duty to the customer. Despite winning the lawsuit, Mrs. Nwoko may have to wait a while to execute the judgment, as Polaris has announced preparations to appeal the ruling.

    The bank’s lawyer, Mr. Ebuka contended that the plaintiff, in her prayers, sought the court to compel the restoration of her money, damages for her money that was lost, and the expense of legal action, even though the court cannot change a party’s pleadings in a suit.

    He stated that the plaintiff did not request compensation for the delayed reversal that the court granted her.

    He said:

    “The judgment was not the true position of the law. It wasn’t the terms of agreement. There was no hearing in that matter. Everything was totally against the rule of practice and the law. 

    “The plaintiff tried to withdraw money with a Polaris Bank Automated Teller Machine (ATM) card, but she did not go to Polaris Bank. She went to another bank’s POS. Going to another bank POS, that bank debited her account from Polaris bank but did not pay her.

    “The law is if you come to Polaris Bank with its bank card it should be reversed immediately or within 24 hours, but when it has to do with a third party bank, you have to file an application before the money is reversed to the owner. 

    “The law allows for 16 days for the money to be reversed from the day the application was filed.

     “The woman was debited on December 24, 2021, but she did not notify the bank until after the Christmas holidays about January 4, 2022. From the day she notified the bank we covered the period and returned her money within the 16 days in line with the law.” 

    Iking Ferry
    Iking Ferry
    Nwede Ikechukwu Emmanuel Popularly known as Iking Ferry is a Nigerian Digital technologist and philanthropist, He is the Founder and CEO of Naijatraffic Limited, and also the Founder and Chief Editor of Wakadaily, Iking specialize in gaining public traction for his clients and is considered one of the leading Nigerian media experts.

    Most Popular Read

    2023:  I’m still searching for best candidate to support, BBNaija Erica

    Former Big Brother Naija season five edition housemate, Erica Nlewedim, has said she is still searching for the best candidate to support for the...

    Yup Edochie, Judy Austin relationship has been ongoing for 6yrs, says Uche Ogbodo

    Nollywood actress Uche Ogbodo, has made more revelation about actor Yul Edochie and Judy Austin the second wife. According to Uche, the actors relationship has...

    I miss making eye contact with people’s girlfriend on stage – Fireboy DML

    Nigerian singer and songwriter Adedamola Adefolahan popularly known as Fireboy DML, says he missed being on stage singing, while making eye contact with people's...

    2023: Don’t make the mistake of voting killers, Jonathan warns Nigerians 

    Former President, Gooodluck Ebele Jonathan, has warned Nigerian not to make the mistake of voting those he described as killers in the 2023 general...

    2023: Atiku remains Nigeria’s best option, says Saraki 

    Former Senate President Bukola Saraki, says Atiku Abubakar remains the best option for Nigerians in the 2023 polls, despite the crisis rocking the people's...

    Why Nigeria citizens can’t bear arms – NSCDC 

    The Commandant General of the Nigerian Security and Civil Defence Corps (NSCDC), Ahmed Audi, gives reason why Nigerians can't be allowed to bear arms.  Dr....

    We don’t need new album to sell out concept, Peter Okoye brags

    Award winning singer Peter Okoye popularly known as Mr P has bragged about there sold-out concert in London. P-Square is a Nigerian music duo consisting...

    Mixed reactions as Nkechi Blessing shares sex toy at mother’s 1yr remembrance

    Nollywood actress Nkechi Blessing Sunday has come under fire for sharing sex toys as souvenirs at her mother's one year remembrance on Sunday. In a...

    Some actresses use charms to turn men into ATM, says Judith Iwu

    Nollywood actress, Judith Iwu has lamented that some Nigerian actresses used magical charms or voodoo to turn rich men to their ATM machines. Her words,...

    Wike denies saying Tinibu offered him senatorial ticket (Video) 

    The Rivers State Governor, through his special assistant on media, Kelvin Ebiri, has denied reports making round that the presidential candidate of the All...