MRS OLUBUKOLA AKINNIRANYE V. STANBIC IBTC & ORS

CHINWE EUGENIA IYIZOBA, J.C.A. (Delivering the Leading Judgment): The Appellant herein who was the Claimant in the lower court was employed by Chartered Bank Plc (now known as Stanbic Ibtc Bank Plc) in January 1992 as a Supervisor. She worked in various departments and held different positions and eventually rose to the position of Operations Manager of the 1st Respondent at its Head Office Branch.

On the 17th day of July, 2003, the Appellant issued a Bank draft (Exhibit DF7) in the sum of N250,950 000.00 (Two Hundred and Fifty Million, Nine Hundred and Fifty Thousand Naira) in favour of Messrs Sahara Energy Limited, which threw the account of their customer, Tessijane International Ltd into a debit balance. The Appellant's authorization limit as Operations Manager was N100, 000,000.00 only according to the 1st Respondent's Operations Manual (Exhibit G). Further, it was alleged that she debited the account of Tessijane International Ltd when all the conditions precedents for the draw …