These are not the best of time for United Bank for Africa (UBA) as a customer of the financial institution, Mr Ade Olusanjo has dragged the bank before a Magistrate court in Ikeja, Lagos.

Mr Ade Olusanjo narrated his ordeal:  “I opened accounts for my three underaged children while my wife also opened an account with UBA. My aim of opening the account was to provide future savings for the education of my children. I opened separate accounts for the three of them and deposited one thousand naira annually in each of the accounts between 1986 and 1995.”

“I have deposit and withdrawal booklets given to me by UBA bank and they are intact signifying that there is no withdrawal from the four accounts. I and members of my family relocated to the United Kingdom where we reside till date.”

“As at the time of my relocation to England, there was an average sum of ten thousand naira only in each of the accounts and eight thousand naira only in the fourth account which belonged to my wife. So far, the accounts have remained dormant and cannot be operated because UBA bank was unable to trace the records despite repeated demands from me.”

In a claim filed by his lawyer, Peter Ehijinwa, he told the court that there are various correspondence between UBA bank and the claimants to this effect. The claimant therefore urged the court to compel the Bank to re- activate and credit the accounts with the sum of #705,096.24 each, being the capital and interests accruing to the accounts as computed by a firm of chartered accountant. He also urge the court to order the bank to pay one million naira as general and special damages for breach of contract.