In this Suit, at the High Court, the Appellant raised a preliminary objection to the fact that the State High Court has no jurisdiction stating that the subject matter of the action is a banking matter but not being one of bank and customer relationship. The suit was thereafter dismissed by the High Court of Lagos State for lack of jurisdiction, whereupon an Appeal was brought to the Court of Appeal. The appellate court found merit in the appeal and held that though the Federal High Court has exclusive jurisdiction over some banking matters, those are limited to matters involving fiscal measure established by the Federal Government or revenue of the Federal Government. In a situation where the issue involves ordinary relations between the bank and customers, then the High Court of the state has the same jurisdiction over the issue as the Federal High Court.

The decision of the Court of Appeal was however set aside by the Supreme Court in SBN LTD. V. MARGARIDA SALVADO DE LLUCH (2004) 18 NWLR (Pt.905) 341.

BA LAW LLP acted for the Appellant