Nigerian businessman loses N177.5m to Chinese fraudster

ayodele johnson

August 16, 2018 3:44 PM

Zenith Bank has asked a court to dismiss a lawsuit filed against it by a businessman who lost N177.5m to a Chinese fraudster.

Zenith Bank Nigeria Plc has responded to a lawsuit filed against it by a Nigerian businessman Umegelo Emmanuel who lost N177.5m to a

In the lawsuit filed at the Lagos State High Court, Igbosere, Emmanuel alleges neglect on the part of the financial institution which caused him to lose the money to a Chinese fraudster who gives her name as Ms Muna.

The amount was paid to the individual from China to facilitate the purchase of some goods in the country.

According to Punch News, the sum was paid to a Zenith Bank account carrying the name Xian Fang Li. The businessman finds out that he has been ripped off following failed efforts to reach the business partner Ms Muna.

He faults Zenith Bank for not making the needed verification to ensure that his funds is protected.

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In response, the bank authority has asked the court to dismiss the case because the claimant Umegelo Emmanuel did not seek a bank guarantee before disbursing the funds.

“The claimant failed to request a bank guarantee of the alleged sum from or requested that the defendant issue a confirmation or a letter of comfort before dealing with both Ms Muna and Xian Fang Li," Punch News gathers in a report.

ayodele johnson