Woman defeats Polaris Bank as court awards her N500,000 compensation over N61,000 failed post

The Akwa Ibom State High Court has ordered Polaris Bank to pay a sum of N500,000 as damages to one of its customers, Idongesit Nwoko, for failing to reverse a failed Point of Sales (POS) transaction within the 72-hour time frame required by law.

Justice Bennett Ilaumo, the presiding judge of the court gave the directive on Wednesday, May 4, 2022, Premium Times reported.

Telescope.ng gathered that during the court hearing, Nwoko stated that she made an N61, 000 POS withdrawal on December 24, 2021, but was debited without payment.

Nwoko, who is a civil servant claimed she made several efforts, including several visits to the bank, but the debit was not reversed until after 28 days.

Dissatisfied with the way the bank was treated by the bank, the woman, through her lawyer, Utibe Nwoko, sued Polaris Bank asking for her money, another report revealed.

Justice Ilaumo in his ruling ordered the bank to pay N500,000 as damages as the bank was negligent as to its duty of care to his customer.

But the bank has announced preparations to appeal the ruling.