A customer and a company have instituted a N5 billion lawsuit against First City Monument Bank (FCMB) Ltd over the alleged unauthorised disclosure of the company’s bank statement to a third party.
The suit, filed before the High Court of the Federal Capital Territory (FCT), Abuja, accuses the bank of breaching its duty of confidentiality, negligence and violating privacy and data protection obligations by allegedly releasing sensitive financial records without the account holder’s consent.
The plaintiffs, First Tirad Global Resources Ltd and its majority shareholder, are seeking damages over what they described as an unlawful disclosure of confidential corporate and personal information.
The case, marked FCT/HC/NY/255/2026, was instituted through a Writ of Summons, Statement of Claim and Witness Statement on Oath filed by the claimants’ counsel, Oluchi Vivian Uche, Esq., Okueyelegbe Sylvanus Maliki, Esq., and others.
According to the Statement of Claim, the company maintained a corporate account with FCMB, with the second claimant identified as the sole authorised signatory.
The plaintiffs alleged that a third party who had no mandate to access the account or obtain its financial records secured the company’s account statement without their knowledge, consent or authorisation.
They further alleged that the disclosure exposed confidential financial and commercial information belonging to the company, as well as sensitive personal details of the second claimant.
The claimants stated that on April 8, 2026, the third party contacted a former FCMB account officer, identified as Taofeeq Are, through WhatsApp, requesting the company’s account statement covering January 1 to April 8, 2026.
They alleged that Are subsequently contacted a serving bank account officer, identified as Olutunde Oyasola, who generated the statement and sent screenshots to him.
The screenshots were allegedly forwarded to the third party through WhatsApp.
The plaintiffs maintained that the process violated the bank’s procedures for protecting customers’ financial information and amounted to a breach of its obligation to keep account records confidential.
The second claimant also alleged that the statement contained details of a rent payment that exposed her residential address and compromised her personal privacy.
According to the claimants, the disclosure not only exposed the company’s confidential financial dealings but also raised concerns about the security of their sensitive information.
They said they subsequently lodged a formal complaint with FCMB, demanding an investigation into how the statement was obtained and shared with an unauthorised person.
The claimants further alleged that the bank, in a letter dated July 8, 2026, admitted that the disclosure was “wholly unauthorised” and inconsistent with its internal policies, data protection obligations and ethical standards.
They also claimed that FCMB acknowledged in the letter that Oyasola generated the statement and shared screenshots with Are, who then forwarded them to the third party.
Relying on the alleged admission, the plaintiffs are asking the court to declare that the disclosure was unlawful and constituted a breach of FCMB’s duty of confidentiality to First Tirad Global Resources Ltd.
They are also seeking a declaration that the disclosure violated applicable privacy and data protection obligations, particularly concerning the second claimant’s personal information.
Additionally, the claimants want the court to hold the bank liable for negligence and the actions or omissions of its employees in connection with the incident.
The plaintiffs are demanding N5 billion in general, aggravated and/or exemplary damages for alleged breach of confidentiality, negligence, invasion of privacy, breach of contractual and statutory obligations, and the consequential losses and business exposure they claim to have suffered.
They are further seeking an injunction restraining any further disclosure, dissemination or use of the disputed account statement, as well as an order directing FCMB to pay the cost of the legal action.
The claimants also want the court to declare that the subsequent exhibition and reliance on the disputed bank statement in court proceedings caused additional prejudice and injury to their interests.
The court is yet to determine the suit, and the allegations remain unproven.
As of the time of the report, FCMB had not filed a response to the allegations.
