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A Nigerian Bank Is Disobeying My Late Father’s Directive

Posted by on September 1, 2020 0


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Please fellow VotmuzicNg, I need your opinions on this and if possible front page. It’s quite personal and goes like this.

1. Mr Adam (my father) opens a fixed deposit account with X Bank. He subsequently submits his wife’s details and makes her a co-signatory to the account with the *express mandate* that upon his demise, his wife exercises automatic access to the account and it’s proceeds. Does this amount to a valid contract between him and the bank?.

2. Note that after his death the bank reneged on the primary provider of his directive, stating that a letter of administration must be procured (at an exorbitant cost).

Stated Reasons bothers on the fact that under banking laws and the principles of a valid contract, a contract between a depositor and the bank terminates upon the demise of the individual thus rendering the *mandate* unenforceable and invalid.

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