ABSTRACT
A bank is a legal entity or corporate body that is licensed to carry on banking business. The primary legislation regulating banking operation in Nigeria is Banks and Other Financial Institution Act(BOFIA). Banks receive funds from customer and pay on demand. A customer has been defined as any person that has an account with a bank. The relationship of bank and customer is contractual and it gives rise to debtor-creditor relationship. Both legally have rights, duties and obligations to perform. Since banker-customer relationship is contractual, breach of the contact, that is, the duties and obligations from any party will be held liable. This research further examined the problems that customers face in the bank as well as bank to the customer. It also examined that there are some special circumstances where the nature of banker-customer relationship involves bailment, agency, trusteeship/executorship. Finally, this research work further examined the situations/circumstances by which the relationship between bank and customer can be terminated as anything that has beginning has an end.
TABLE OF CONTENTS
TITLE PAGE – – – – – – – i
CERTIFICATION – – – – – – ii
DEDICATION – – – – – – – iii
ACKNOWLEDGEMENT – – – – – iv
TABLE OF CONTENTS – – – – – v
ABSTRACT – – – – – – – viii
TABLES OF CASES – – – – – – ix
TABLE OF STATUTES – – – – – xi
LIST OF ABBREVIATIONS – – – – – xiv
CHAPTER ONE: INTRODUCTION – – – –
1.1 Background of study – – – – – 1
1.2 Statement of Problem – – – – – 5
1.3 Significance of Study – – – – – 7
1.4 Objectives of Study – – – – – 9
1.5 Scope of study – – – – – – 10
1.6 Research Methodology – – – – 11
1.7 Definition of Terms ` – – – – – 12
CHAPTER TWO: CONCEPTUAL FRAMEWORK 16
CHAPTER THREE: IMPLICATION OF
BANKER-CUSTOMER RELATIONSHIP 23
3.1 Nature of Banker-Customer Relationship – – 23
3.2 Rights of a Banker – – – – – – 26
3.3 Rights of the Customer – – – – 27
3.4 Duties and Obligations of a Customer – – – 28
3.5 Duties and Obligations of a Banker – – – 32
3.6 Exception to the Rights and Obligations of a Banker 40
3.7 Protection of Bankers – – – – – 48
3.8 Laws regulating the establishment and operation of
banks in Nigeria – – – – – – 53
CHAPTER FOUR: TERMINATION OF BANKER CUSTOMER RELATIONSHIP – 63
4.1 Termination by the Customer – – – – 64
4.2 Termination by the banker                  –       –       –       –       66
4.3 Jurisdiction over Banker-Customer Dispute – – 76
CHAPTER FIVE – – – – – – 81
5.1 Summary – – – – – – 81
5.2 Conclusion – – – – – – 85
5.3 Recommendations – – – – – 86
BIBLIOGRAPHY – – – – – – 89
