A businessman, Michael Ogbole, has sued the First Metropolis Monument Financial institution (FCMB) on the Lagos Excessive Courtroom, demanding $60,206.66 as unpaid fee for facilitating a multi-million-dollar transaction with a U.S.-based firm, Sky Enterprise LLC.
Within the go well with, filed on his behalf by Falana & Falana Chambers and marked LD/ADR/4635/2022, the claimant alleged that the defendant shortchanged him in a deal.
The case, which is scheduled for October 28, 2024, will likely be heard earlier than Justice O.O. Oshin sitting in Osborne.
The claimant alleged that on June 2, 2016, he met with the then Group Basic Supervisor and Chief Government Officer of the defendant, Mr Ladi Balogun to debate how he might assist the financial institution safe finance from Sky Enterprise LLC, a Florida-based agency specialising in commerce finance, threat, and debt administration.
Based on the claimant, following their subsequent discussions, he organized a gathering between Sky Enterprise’s World Director for Africa, Mr Yinka Akinlabi, and FCMB officers on the financial institution’s headquarters to construction the commerce finance deal on September 2, 2016.
After the assembly, he stated, events exchanged a number of emails and cellphone calls to finalise the transaction.
He claimed that in February 2021, he found that the defendant had gone forward with the deal by means of Sky British, a subsidiary of Sky Enterprise LLC, with out his involvement.
In a letter dated October 12, 2021, the businessman, by means of his attorneys, demanded the cost of $60,206.66, representing a one per cent fee on the $6,020,660, facility secured by the financial institution from Sky British.
“The defendant has did not fulfil its contractual obligation to pay the claimant the agreed fee. FCMB’s actions are in breach of the settlement, they usually have uncared for to settle the quantity owed,” he acknowledged.
The claimant, amongst others, is asking the courtroom to order the financial institution to pay $60,206.66, plus 21 per cent curiosity accrued since December 31, 2020, N20 million basically and exemplary damages in addition to N5 million for the price of the go well with.
Nonetheless, in an announcement of defence, the financial institution by means of its counsel, Prof. Wale Olawoyin (SAN) contended that the go well with is a gold-digging train by the claimant and as such vexatious, outrageous, missing in advantage and liable to be dismissed with substantial prices.
The defendant acknowledged that someday in 2016, its former Group Managing Director/Chief Government Officer was approached by the claimant in a public place, claiming that he had the community to dealer Greenback Loans for Nigerian banks.
Subsequently, the claimant, majorly by means of phone conversations and emails, and two bodily conferences, it acknowledged, held a sequence of discussions with different high executives of the defendant.
The defendant additional acknowledged that the topic of debate was the potential of the claimant and his associate, Yinka Akinlabi, purportedly of Sky Enterprises LLC, to facilitate Offshore Greenback loans and/or financing for the acquisition of one of many defendant’s buyer’s vessels.
The defendant additional acknowledged that in its assembly with the claimant and his associate, it was found that they didn’t possess the required capability, expertise and understanding of the worldwide finance market to the extent that they might have the ability to dealer the transaction for which the conferences have been convened.
The financial institution insisted that no person appearing on its behalf at any time made any dedication or settlement, whether or not by way of fee or another technique with the claimant, his associate or anyone representing them and urged the courtroom to dismiss the go well with.
