Alleged Forgery: MIKUCH Global Ltd Drags Access Bank To Court

…As MIKUCH MD, Sado says he suffered for what he knew nothing about

BY VICTOR BUORO, ABUJA – Following what it described as an attempt to damage its reputation before the right thinking members of the public, MIKUCH Global Ltd as represented by its managing Director, Mr. Michael Sado has dragged Access Bank PLC before a High Court of the Federal Capital Territory.

In the suit in which MIKUCH Global Ltd also joined the Central Bank of Nigeria (CBN) as co-defendant, declared that it opened MIKUCH Global Limited account with Account number 0440810691 domiciled with Access Bank Plc sometimes around October 6, 2014 with MR. MICHAEL SADO, who is the Managing Director and Chief Executive Officer as the sole signatory to the Account.

Sado said that he has been operating the Account ever since it was opened as a sole signatory based on the mandate given the Bank in accordance with the Account’s documents with the Bank.

Sado, the Managing Director of MIKUCH Global Ltd, declared that he never at any time whatsoever, authorized Access Bank or any of its management staff or any other person whatsoever to change or alter the mandate with the Bank

MIKUCH Global Ltd with Sado as Managing Director, explained that the failure to notice in good time the FRAUD perpetuated with his account was necessitated by Access Bank’s fraudulent conduct by illegally removing his telephone number that was associated with MIKUCH Global Ltd Account with Account Number 0440810691 with Access Bank Plc.

The Managing Director of MIKUCH Global Limited, MR. MICHAEL SADO in his statement of claim before the FCT High Court declared that he only got to know in the cause of his series of invitations and interrogations by the Department of State Services (DSS), the Nigeria Police Force and the Economic and Financial Crimes Commission (EFCC) that his Account number 0440810691 with Access Bank was unfortunately used for fraudulent practices, stressing that this was in spite of the fact that there was never a time his company (MIKUCH Global Limited) passed a resolution requesting for a change of signatory to its account.

MIKUCH Globl Ltd also told the Court that he did not also authorized the Bank to change his telephone number on which he used to get notifications in the form of alert from Access Bank.

Sado further said that his former wife, who is a staff of Access Bank was only a shareholder to MIKUCH Global Ltd and not a signatory to the account. These were verified based on documents made available to Forefront which confirmed the veracity of Sado claims.

The MD of MIKUCH Global Ltd pointedly accused Access Bank of having connived with its staff to illegally alter his account documents without his permission particularly against the backdrop of the huge cash flow activities in respect of the account but without his knowledge, adding that his telephone number was equally replaced with another thereby made it practically impossible for him to get transactions in form of alert.

He also said that during the period, the Bank connived and initiated illegal transactions running into over N100 million without his consent.

Sado averred that the illegal alteration of his company’s account document by Access Bank in connivance with its staff (his estranged wife) by replacing his authentic signature and telephone number to the Account in a bid not to be aware of the fraud the Bank was using his account to perpetuate, caused him unbearable mental and physical torture as he was humiliated and traumatized following invitation and interrogation for an offence he knew nothing about, talk more of committing an offence he is not known for as a businessman of repute without any record of misdemeanor.

MIKUCH Global Limited said that on noticing that its Account with Access Bank must have been compromised, and used for fraudulent transactions, he quickly made moves and demanded details of what transpired within the period he stopped operating the Account, but the Bank refused to avail him his request which was strange to him and difficult to understand.

Sado explained that it was during his unfortunate invitation and interrogation for an offence he did not commit that he was given the opportunity to peruse through the account documents which left him in bewildered state as he had no idea of the transactions, adding that it was at that point that he realized that his signature to the account was altered and changed, adding that more curiously was the fact that the deliberate and calculated attempt made by Access Bank officials to forge his signature left so much gaps as it did not in any way correspond with his actual signature.

He expressed pains that it was after going through excruciating and thorough investigations in the hands of security agencies before he was found not to have been culpable of any of the allegations in any material particular and was therefore set free by the DSS which also found out that his company letter headed paper was equally forged and used to transact business without his authorization on May 7, 2018.

Pointedly put, Mr. Michael Sado was found not to have consented or authorized the change of signatory to Account number 0440810691 with Access Bank for which he was the sole signatory, stressing that the Bank’s conduct in altering his account mandate, changing his telephone number from the Account mandate documents and the use of his account for transactions without his authorization was not only illegal but amounts to monumental fraud.

Sado also noted that the Central Bank of Nigeria’s failure to properly regulate the illicit activities of Access Bank amounts to negligence in performing its statutory duties.

Sado as claimant in the case, said that his invitations and interrogation subjected him to untold and unwarranted psychological torture due to the actions of Access Bank and the CBN which therefore exposed them to damages.

Accordingly, MIKUCH Global Ltd is demanding among other things, an order of the Court compelling Access Bank to pay it N900 million as damages for unauthorized use of its Account to perpetuate fraud and another order compelling the CBN to pay N50 million for failure to regulate the activities of Access Bank which caused MIKUCH Global Ltd to incur damages.

The MD of MIKUCH Global Ltd, Mr. Michael Sado is also praying the Court to compel Access Bank being the First defendant, to pay him N200million for the humiliation he suffered in the hands of security agencies as well as loss of business goodwill and another N100million as general damages as well as N5million as cost of litigation and legal services.

Sado is also urging the Court to declare that all transactions fraudulently carried out in its account without authorization are unlawful just as he prayed the Court for an order compelling Access Bank to return all the monies totaling N110 million that were fraudulently withdrawn from Account number 0440810691 during which the account mandate was fraudulently altered as well as bank charges.