Wetech Industry Limited has asked the High Court of the Federal Capital Territory (FCT) to impose N500 million in general damages against Mega Microfinance Bank Limited for allegedly unlawfully obtaining and possessing a credit report against it through fraudulent misrepresentation.
This is outlined in the suit, marked CV/4867/2024, which claims that the bank, without its knowledge or consent, obtained a credit report from the First Central Credit Bureau on 28/12/2023, under the guise that the claimant had applied for a credit facility from the defendant.
The claimant’s lawyer, Eloka Okoye, averred that his client has never, either through itself or any of its agents, applied for a credit facility from the bank.
A credit report is a statement that provides information about one’s loan repayment history and the status of one’s credit accounts.
Claimant’s Allegations
In his court processes, seen by Nairametrics, Okoye told the court that the claimant does not have any form of relationship with the bank.
“Upon realizing that the bank unlawfully obtained a credit report against the claimant, the claimant, through its counsel, wrote to the defendant, requesting the alleged application that necessitated its obtaining the credit report from the First Central Credit Bureau.”
“The claimant further avers that, to date, the defendant has neither responded to the claimant’s letter nor reached out to the claimant through any other means.”
“The claimant asserts that the credit report was obtained under false pretenses, as the claimant has never applied for a credit facility from the defendant,” he stated.
He urged the court to declare that “the subscription to First Central Credit Bureau for a credit report on the claimant by the defendant, under the guise that the claimant applied for credit in their organization when, in fact, there was no such application, amounts to fraudulent misrepresentation.”
“A declaration by this Honourable Court that the credit report obtained from the First Central Credit Bureau by the defendant through fraudulent misrepresentation was illegally obtained and therefore unlawful.”
“An order of perpetual injunction restraining the defendant, its servants, privies, or agents from further obtaining and possessing any credit report from the credit bureau.”
- Okoye further contended that the claimant has suffered significant loss due to the actions of the bank against it, urging the court to hold that the defendant knows that the claimant was not their customer and did not apply for credit.
- Nairametrics gathers that Justice B. Abubakar of the High Court of the FCT in Apo has fixed February 13, 2025, for the hearing of the case.
Nairametrics could not immediately get a comment from the defendant.
What you should know
According to the court documents, Wetech Industry Limited is a company, duly registered under the extant laws and whose address is at 169, Ajaokuta, Itobe Expressway, before Niger Bridge, Lokoja, Kogi State while the defendant is a Micro Finance Bank that offers credit facility including loans to applicants.
- The bank’s address is at 2XL Mall, Suite 7A, First Floor, 11 Road, off 3rd Avenue, Gwarimpa, Abuja, according to the court documents.
- The CEO of Wetech is a Chinese national, Liu Yangxi.
- The FCT High Court has jurisdiction over a wide range of matters.
- While the case has been adjourned for hearing, the legal team of the bank is expected to file a formal response in court.
The court will then review the evidence presented before it to make a final pronouncement on the dispute.