An Abuja-based financial institution, Mega Microfinance Bank Limited has been sued before the High Court of the Federal Capital Territory (FCT) for N500 million over alleged fraudulent misrepresentation.
The bank was alleged to have made false claims against a firm, Wetech Industry Limited in its bid to obtain a credit report on the firm from First Central Credit Bureau, FCCB.
Wetech, in the suit filed by its lawyer, Eloka Okoye of the law firm of Kehinde and Partners LP, accused the bank of engaging in false misrepresentation when it claimed that the company applied to it for credit facility.
In the suit, marked CV/4867/2024, Wetech accused Mega Microfinance Bank of telling FCCB that it (Wetech) applied for credit when it knew that the claimant was neither its customer nor applied for credit from it.
Wetech’s Chief Executive Officer, CEO, Liu Yangxi stated, in his witness statement, that the bank, without the knowledge and consent of his company, obtained a credit report from the FCCB on 28/12/2023.
Yangxi added: “The credit report was obtained under the guise that the claimant (Wetech) applied for a credit facility from the defendant (the bank).
“The claimant has never, through myself or any other director or agents applied for a credit facility from the defendant.
“The claimant does not have any form of relationship with the defendant.
“Upon realizing that the defendant unlawfully obtained a credit report against the claimant, the claimant, through its counsel wrote to the defendant, requesting the alleged application that necessitated its obtaining the credit report from the FCCB.
“Till date, the defendant has neither responded to the claimant’s letter nor reached out to the claimant through any other means.
“The claimant avers that the credit report was obtained under false pretence because the claimant has never applied for a credit facility from the Defendant.
“The claimant has suffered great loss due to the actions of the defendant against it,” Yangxi said.
Wetech is therefore praying the court to among others, declare that the credit report obtained amounts to fraudulent misrepresentation.
It wants the court to declare the credit report obtained by the bank on the claimant, through fraudulent misrepresentation, as illegal and unlawful.
The claimant also wants the court to declare the bank’s possession of the credit report without its consent, unlawful, adding that the bank should be ordered to disclose the person who instructed it to obtain the credit report on the claimant.
Other reliefs being sought by Wetech include: ”An order directing the defendant to hand over the original of the credit report to the claimant; destroy copies of same in its possession, and wipe out any data belonging to the claimant from its database and computer systems.
”An order awarding the sum of N500,000,000 against the defendant as general damages for unlawfully obtaining and possessing the credit report against the claimant through fraudulent misrepresentation.
”An order of perpetual injunction restraining the defendant, its servants, privies or agents from further obtaining and possessing any credit report from the credit bureau.
Justice B. Abubakar, sitting in Court 27 of the High Court of the FCT in Apo has fixed February 13 next year for a hearing, before which the defendant is to file its response.
Firm slams N.5bn suit against bank over alleged fraud
