I want people in the house to see what Diamond Bank did and beware. This bank do not honour agreement, even signed ones. Below is the petition i wrote to the CBN and CBN directed them to reverse their action but they turn a deaf ear and brag that nobody can do anything to them.
How can we complaint of government insincerity when we destroy one another in the private sector? How do company grow when banks want to come to you with the butcher's knife?





15th April, 2011

Head, Public Complaints
Cooperate Secretariat
Central Bank of Nigeria (CBN)
Headquarters
Abuja.

Dear Sir/Madam
PETITION CONCERNING A BREACH OF AGREEMENT BETWEEN ANGEL’SEYE NIGERIA LIMITED AND DIAMOND BANK PLC

We are a limited liability company in Nigeria; we operate a current account with Diamond Bank Plc
Account Name: ANGEL’SEYE NIGERIA LIMITED
Account No: 1302350000044

On the 28thof May 2009, the Bank offered us a term loan referred to as working capital facility (Diamond SME loan) for the sum of One million naira (=N= 1,000,000.00)

Due to unforeseen circumstances, we asked for a restructuring and it was approved having met the stipulated conditions by the bank. The duly approved restructured agreement took effect from the 22nd of October 2010.

This for us was exciting and we had no excuse not to meet up with the new plan where we were expected to pay the sum of Ninety Three Thousand Nine Hundred and Twenty three Naira twenty three Kobo (=N= 93,923.23) monthly.

For the restructuring to take effect, there were charges which were debited directly and when we asked, they told us that it is a new facility. The charges are as follows
1. Management fee
2. Legal fee
3. Commitment fee
4. Restructuring fee
5. =N= 2000.00 for notarization court (paid in cash)
6. Provision of a surety

All these we met adequately







The Bank had assured us that our account would run normally as long as we made allowance for the monthly loan pay back.
Angel’seye Nigeria Limited has four different accounts in four different Banks; but due to the nature of agreement we had, respect for the legal system, trust in the integrity of the bank and its staff
we paid in a cheque to the Bank with the hope that they would take what was due to them for that month and we on our own part could go ahead with our plans in meeting our obligations. We paid
(=N= 1,275,000.00) on the 8th December, 2010 which was meant for the December payback and the running of our business.

However to our surprise, our business partners who we issued cheques to came back saying there was no money and some of the cheques paid into the account were not honoured. We rushed to the Bank and discovered that the cheque we paid in had been collapsed into the facility. When we asked them they could not say anything apart from `It was beyond us’.

The questions that came to mind were:
i) Why did the bank go through all these process if they knew they would not respect it?
ii) Should we not be informed not to issue cheques since the whole money had been paid down; we know that issuance of dud cheque is criminal offence.
iii) Why the court notarization of the transaction if it did not matter?
iv) What was the essence of the surety we were asked to provide?
v) Was the restructuring of the loan not approved?

We could have paid the cheque into another Bank and given the Bank the =N= 93,923.23k which was
the required monthly repayment if we had any ulterior motive. We thought the bank would honour the
agreement in keeping with its Hallmark of integrity .

The bank’s action has caused us a great financial loss and dwindled our transactions in these ways:
• Unnecessary hardship
• Defamation of character
• Loss of integrity amongst clients and staff
• Criminalization of genuine actions
• Distortion of business plan.
All our correspondence to the Bank were through our Lawyers.
Please find attached hereto, all relevant documents relating to the matter:

1. Letters between us and the Bank
2. The facility letter
3. The letter of restructuring of the loan
4. Statement of Account.
5. Letters from the Bank
6. Copies of dishonored cheques
7. Copy of Bank teller lodgment into the Account
8. Letter from our solicitors to the Bank.

We had written the Bank several times. Some of the letters were responded to and others completely
ignored. Our intention was to go to court but when we heard of the CBN Committee we decided to
approach the committee for justice since CBN regulates Banking and financial polices. We are also
aware of the position of CBN on Banking Operations.




OUR PRAYERS
Angel’seye Nigeria Limited has suffered untold hardship as a result of this breach of contract by
Diamond Bank. It is therefore our prayer that CBN should intervene in the following ways:

* Compel Diamond Bank Plc to pay damages to the company in the sum of Thirty Million Naira Only (=N=30,000,000.00).
* Compel the bank to issue a letter of apology to Angel’seye Nigeria Limited for the breach of contract agreement.


Thanking you ahead for your co- operation and assistance in getting justice in this matter.

Yours faithfully



ADEYEMI OSOBA
For: ANGEL’SEYE NIGERIA LIMITED.

you posted this since january and naira landers ignored you. this means you are a joker and a cheap thief. go and look for something to do and stop having malaria dreams of getting n30m. let me ask you, can you recognise n30m when u see it.