ONE of the customers of Skye Bank Plc, Prince Adeniyi Daini, has instituted an action at the Lagos High Court, Ikeja, against the bank over alleged undervalue sales of his 40,000 units of Zenith Bank Plc. Consequently, in his claims, Prince Daini prayed the court to order the bank to pay him the sum of N160, 000, being balance of 40,000 units of Zenith bank shares at N66.50 per unit which was the original price at which he authorised the bank to sell the shares in order to liquidate the overdraft facility granted him by the bank.

Furthermore, he claims against the bank, the sum of N666, 000 being the total sum of the unauthorised 10,000 units of Zenith Bank shares sold by the bank, while also seeking an order of the court compelling the bank to release his Wema Bank 50,000 units of shares certificate and FCMB 20,000 units of the shares certificate all of which are in the custody of Skye Bank.

The Skye bank customer submitted that at all material time to the filing of the suit against the bank, he was and still a customer of the bank, having an account with the bank’s branch at Murtala Mohammed International Airport, Ikeja.
According to him, in conformity with business ethics and practice, he took it upon himself to personally visit and inquire about the unauthorised act of the bank and was disappointed when the management of Skye Bank in an attempt to justify their action, came up with an excuse that they could not sell the share at the instructed period and price because of a problem at the Security and Exchange Commission(SEC).

for more information read on http://businessworldng.com/web/articles/854/1/Customer-Sues-Skye-Bank-over-Sale-of-Shares/Page1.html

How is this a fraud, OP?

Are you passing judgment already on Skye Bank? Its the customer's word against theirs. Have you visited Skye Bank to find out the truth?

Please stop being an alarmist! You may pay for it one day.

Mr . Ms X Factoria: Do you think I am getting some pleasure in posting this on a open forum. It is unfortunate that good news is never published. If the matter is resolved or the customer made a false complaint, what has Skye Bank done inform other customers such as me.
When there is lack of information, there will be assumptions.
If you have the right information, please do share. Then I will be happy to write a positive note for Skye Bank. Its not personal my friend.

^^^^

Why not just accept that you were wrong? Your headline clearly gave you out as taking side.

You concluded that a case in which you only heard from one party is a fraud . You even did that when the case is already in court.

Just be careful. You may pay for reckless statement like this someday.