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SALEMOK GHANA LIMITED v. ECOBANK GHANA LIMITED

June 26, 2019

HIGH COURT

GHANA

CORAM

  • His Lordship Justice Kweku T. Ackaah-Boafo

Areas of Law

  • Banking and Finance Law
  • Contract Law
  • Evidence Law
  • Tort Law

AI Generated Summary

This case concerns Salemok Ghana Limited, a freight forwarding company that maintained dollar and cedi accounts at Ecobank’s Silverstar Tower branch in Accra, with Managing Director Salia Adams and Operations Manager Faustina Asarefori as signatories. Salemok alleged a series of unauthorized online transfers from its dollar account between December 22 and 24, 2014, including after a customer remittance from Sierra Leone, which left the account nearly depleted. Salemok reported to Ecobank and the police; Ecobank’s staff indicated recipients in Nigeria, internal branch transfers, and a CalBank account, and some amounts were reversed. Ecobank argued the transfers were authorized, that SMS alerts were delivered to the MD’s number, and that Salemok was bound by online banking terms, yet it produced neither a signed agreement nor its investigative report. The court found the transactions were unusual given Salemok’s history of cheque-based withdrawals, held the bank failed to prove customer authorization, and concluded Ecobank was negligent for processing and failing to promptly notify Salemok, awarding damages, interest, and costs.

JUDGMENT