Federal Character
  • Home
  • News
  • Politics
  • Business & Finance
  • Entertainment
  • Sports
  • Tech
  • Relationship and Life
  • Fashion & Lifestyle
  • Food & Nutrition
  • Health
  • Opinion
No Result
View All Result
  • Home
  • News
  • Politics
  • Business & Finance
  • Entertainment
  • Sports
  • Tech
  • Relationship and Life
  • Fashion & Lifestyle
  • Food & Nutrition
  • Health
  • Opinion
No Result
View All Result
Federal Character
No Result
View All Result
Home News

Abuja Court Orders Payment of N34.4 Million Compensation to Kano Car Trader

Elizabeth OkandejibyElizabeth Okandeji
July 18, 2024
in News
0
Abuja Court Orders Payment of N34.4 Million Compensation to Kano Car Trader
Share on FacebookShare on TwitterShare on Whatsapp

On Thursday, a High Court of the Federal Capital Territory (FCT) sitting in Kuje ordered a new generation bank to pay N34.4 million in damages and compensation to Tripple C Motors, a Kano-based auto dealer.

The court, in its ruling handed by Justice Chinyere Nwecheonwu, stated that it was satisfied that the Claimant’s money was unjustly kept for 43 months without explanation.

Aside from the bank, the other defendants in the case were Pagmat Oil and Gas Nig. Ltd and Prudential Steps Savings & Loan.

According to the court, the evidence presented in the case revealed that the Claimant was entitled to a payment of N86 million from the defendants within 30 days after his delivery of seven cars on December 28, 2018.

In a nutshell, it said that the defendants were liable to compensate the claimant for improperly holding onto the claimant’s money during a commercial transaction because of their refusal and failure to pay the claimant the sum of N86 million for the supply of cars made by the claimant for and at the defendants’ instance as at when due.

The court further declared that the defendants’ refusal and failure to pay the claimant the sum of N86 million for the supply of cars ordered as soon as it was due caused the claimant to lose profits or earnings in the amount of at least N4.3 million per month for 43 months, totaling at least N34.4 million for the period, and made the defendants liable to the claimant for damages.

In addition, the court issued a ruling ordering the defendants to reimburse the claimant for N34.4 million in predicted returns and/or lost profits/earnings during the 43 months that the claimant’s funds were withheld.

In addition, Judge Nwecheonwu mandated that 10% of the judgement amount be paid annually starting on the day of the judgement and continuing until the debt is entirely paid off. The claimant, however, requested compensation in the form of N6 million to pay the costs he spent during the suit’s prosecution, but the court denied his request.

The Claimant stated in the process he filed through his lawyer, Mr. Ojonimi S. Apeh, that he delivered the vehicles based on the fact that a Block Funds/Irrevocable Standing Order, dated December 20, 2018, was issued by the Utako branch Manager of Fidelity Bank and handed over to the company’s Director, Dr. Adamu Kukuri.

The Claimant also said that no money was placed into the company’s account as stipulated after 30 banking days after the delivery of the seven vehicles.

Conclusion

While the court denied the claimant’s request for N6 million in legal costs, the substantial compensation awarded provides a significant remedy for the prolonged withholding of funds.

This ruling not only addresses the immediate case but also sets a precedent for the handling of similar commercial disputes, emphasizing the necessity for transparency and adherence to contractual agreements in business transactions.

Tags: abujaAbuja Court Orders Payment of N34.4 Million Compensation to Kano Car Tradercarcourtfederal characterkanoNewsTrader
Elizabeth Okandeji

Elizabeth Okandeji

A wordsmith with a passion for all things tech. I write captivating articles and unravel complex concept in the world of technology.

Related Posts

“We Want to Breathe”: Hundreds March in Tunis Over Worsening Pollution Crisis
News

“We Want to Breathe”: Hundreds March in Tunis Over Worsening Pollution Crisis

October 25, 2025
Louvre Evacuates Jewels to Bank After Security Failure
News

Louvre Evacuates Jewels to Bank After Security Failure

October 25, 2025
A New Kind of Threat? Murder-Suicide at Ukrainian Station Raises Alarms
News

A New Kind of Threat? Murder-Suicide at Ukrainian Station Raises Alarms

October 24, 2025
Next Post
U.S. Missile Deployment in Germany Escalates Russia Tensions

U.S. Missile Deployment in Germany Escalates Russia Tensions

My Most Difficult Transitioning Element Was Self-Conviction – Young Jonn

My Most Difficult Transitioning Element Was Self-Conviction - Young Jonn

Canada Appoints First Female Army Commander

Canada Appoints First Female Army Commander

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

US music icon David Crosby passes away at age 81.

US music icon David Crosby passes away at age 81.

3 years ago
What’s The Advantage of Owning A House Plant?

What’s The Advantage of Owning A House Plant?

2 years ago
DSS Hands Out Warning in Light of the Rising Bandits and Terrorists’ Attacks

DSS Gives 48 Hours To NNPC, IPMAN, NUPENG, And Others To End Fuel Scarcity

3 years ago
Manchester City triumphs over Ipswich Town 4-1 as Erling Haaland gets hat-trick to win it

Manchester City triumphs over Ipswich Town 4-1 as Erling Haaland gets hat-trick to win it

1 year ago

Categories

  • Beauty
  • Business & Finance
  • Entertainment
  • Fashion & Lifestyle
  • Food & Nutrition
  • Government
  • Health
  • News
  • Politics
  • Relationship and Life
  • Sports
  • Tech

Topics

2023 Aboki/Bureau De Change (BDC) apc Arsenal buhari Business cbn chelsea china court Davido Dollar Efcc Election Entertainment Euro and Pounds To Naira Exchange Rate For Today exchange rates for the Nigerian Naira (NGN) Fashion federal character federal government Finance food Football Foreign News government health inec Israel lagos Manchester United Naira Naira Black Market exchange rates News Nigeria pdp police Politics president protest Russia Sports tinubu trump ukraine US
No Result
View All Result

Highlights

Who’s Paying for Trump’s $300 Million Ballroom?

Psychologist’s Grave Warning About Trump

“I Am Not Done”: Kamala Harris Hints at 2028 Run, Defining Her Post-Presidency Path

Louvre Evacuates Jewels to Bank After Security Failure

Shina Peters Details Bizarre Plan That Helped Him Rebuild His Reputation

Sunderland​‍​‌‍​‍‌ Stun Chelsea with Late Winner to Climb Second in Premier League

Trending

Manchester United Hit Four Past Brighton to Seal Third Straight Premier League Win
Sports

Manchester United Hit Four Past Brighton to Seal Third Straight Premier League Win

byHashim Kolawole
October 25, 2025
0

Manchester​‍​‌‍​‍‌ United kept the good vibe going with Ruben Amorim by winning 4-2 against Brighton at Old...

Mystery Donor Gives $130M to Pentagon for Troops' Pay, Sparking Backlash

Mystery Donor Gives $130M to Pentagon for Troops’ Pay, Sparking Backlash

October 25, 2025
“We Want to Breathe”: Hundreds March in Tunis Over Worsening Pollution Crisis

“We Want to Breathe”: Hundreds March in Tunis Over Worsening Pollution Crisis

October 25, 2025
Who’s Paying for Trump’s $300 Million Ballroom?

Who’s Paying for Trump’s $300 Million Ballroom?

October 25, 2025
Psychologist’s Grave Warning About Trump

Psychologist’s Grave Warning About Trump

October 25, 2025

We launched Federal Character in February 2021 based on the belief that the world is in need of smarter and more efficient reporting of events shaping our rapidly changing world. We pledged to put our audience first, always.

Recent News

  • Manchester United Hit Four Past Brighton to Seal Third Straight Premier League Win
  • Mystery Donor Gives $130M to Pentagon for Troops’ Pay, Sparking Backlash
  • “We Want to Breathe”: Hundreds March in Tunis Over Worsening Pollution Crisis

Categories

  • Beauty
  • Business & Finance
  • Entertainment
  • Fashion & Lifestyle
  • Food & Nutrition
  • Government
  • Health
  • News
  • Politics
  • Relationship and Life
  • Sports
  • Tech

© 2024 FederalCharacter.com

No Result
View All Result
  • Home
  • News
  • Politics
  • Business & Finance
  • Entertainment
  • Sports
  • Tech
  • Relationship and Life
  • Fashion & Lifestyle
  • Food & Nutrition
  • Health
  • Opinion

© 2024 Federalcharacter.com