MRS WINIFRED OKYER vs NDK FINANCIAL SERVICES LIMITED

I. INTRODUCTION

1. By a Writ of Summons filed on 18th May 2022 the Plaintiff claimed the following reliefs:

a. An order for the Defendant to pay the sum of GHS2,754.38 with an interest rate of 16% per annum from 30th May 2021, till date of final payment;

b. An order against the Defendant to pay the sum of GHS142,347.83 with an interest rate of 20% per annum from 26th April 2021 till date of final payment;

c. Damages for breach of Contract;

d. Costs, inclusive of solicitor’s fees; and

e. Any other reliefs that this Honourable Court may deem just.

II. STATEMENT OF CLAIM

1. The Plaintiff pleaded that her full name is Winifred Adwoa Okyere and that she is a retired nurse. She also pleaded that she commenced investing with the Defendant, a limited liability company engaged in financial services and offering investment banking advice, on or before the year 2009, and that the first account was opened under the name of Winifred Adwoa Okyere with customer number 101979.

2. The Plaintiff further pleaded that she made a deposit with the Defendant on 29th November 2020, under the name Winifred Adwoa Okyere with the sum of GHS2,754.56 and that the deposit was to accrue interest at a rate of 16% per annum with a maturity date of 20th May 2021. However, when the maturity date was due, the Defendant failed or refused to allow her to redeem her investment and its accrued interest but rather it rolled over without her authorisation.

3. The Plaintiff averred that the second account with Defendant was opened under the name Winifred Okyere with customer number 101978 and that the starting amount for investment in the account as at 26th March 2021, was GHS142,347.83 and that she requested the Defendant to redeem her matured investment of GHS142,347.83 but her request was refused by the Defendant who rolled over the sum without her approval with the applicable interest rate of 20 per cent per annum with a maturity date of 26th March 2022.

4. The Plaintiff further averred that even though she initially had one account with the Defendant, she had to separate the accounts by using two different names because she wanted to distinguish the investments, she made for herself from that of her sister.

5. She also averred that she made several attempts to redeem her money after her investments had matured but all her attempts had proved futile as the Defendant refused and or neglected to pay her the invested amount plus the accrued interest but rather proceeded to rol