BANK LIABILITY IN BANKER-CUSTOMER RELATIONSHIP IN NIGERIA: A LEGAL APPRAISAL

Abstract

This paper explores the liabilities of bankers stemming from their duties towards customers and the evolving complex and multifaceted relationship between bankers and customers in Nigeria, within the context of 21^st century banking.  It adopts the doctrinal method of research. To ascertain the extent of bankers’ liability the research streamlines the nature of the banker-customer relationship, to wit, traditionally, the banker-customer relationship has been characterized by the roles of creditor and debtor. However, contemporary banking has transcended these conventional roles to include a range of services such as foreign exchange transactions, bill discounting, financial advisory, agency services, estate administration, and acting as a bailee for customers' assets. The findings in this paper indicate that technological advancements and commercial innovations have significantly broadened the scope of interactions between bankers and customers. The paper also highlighted some challenges confronting the Modern day banking experience. The paper therefore summarized its study with a conclusion while giving some recommendations like updating Nigeria's legal framework to accommodate these new realities, ensuring that modern challenges are met with modern legal solutions.