DUTIES, LIABILITIES AND PROTECTION OF THE BANKER IN BANKER-CUSTOMER RELATIONSHIP IN NIGERIA
Keywords:
Banker-customer relationship, Bill of exchange, Duties and liabilities of bankers, Common law defences for banker, Statutory protection for bankerAbstract
The contractual relationship between the banker and the customer necessarily imposes specific mutual duties and
obligations on the contracting parties with attendant consequences for breach. The liability of the banker in the discharge of its duties could arise from its status as a paying or collecting banker. The article examines the duty of the banker to honour the mandate of the customer and the duty not to pay out the customer's money without his authority. The legal protection afforded the banker at common law and under the statute in case of breach of these duties is also examined with a view to determining their adequacy and the extent to which it has impacted on the banker-customer relationship. It is argued that the conditions precedent to the enjoyment of the legal protection afforded the banker against liability are strict and geared
