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THE POLICE FORCE IS NOT A DEBT RECOVERY AGENCY!!
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Adigun, a friend of mine obtained loan(which is to be deducted monthly) from a bank. Adigun noticed that the bank charges him more than the agreed amount. This continued for some months, then after complaint
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Adigun, a friend of mine obtained loan(which is to be deducted monthly) from a bank. Adigun noticed that the bank charges him more than the agreed amount. This continued for some months, then after complaint
about the deductions at the bank, he engaged a banking consultant to investigate his claims, and it was discovered that the bank had illegally overcharged Adigun beyond the agreed sum.
He demanded a refund of the extra charges which he mutually agreed with the bank that
He demanded a refund of the extra charges which he mutually agreed with the bank that
the mater be referred to the Chartered Institute of Banker’s Committee on ethics and professionalism for arbitration.
While the mater was pending at the arbitration committee, the bank reported Adigun to the Financial Malpractices Investigation Unit of the Nigeria Police Force.
While the mater was pending at the arbitration committee, the bank reported Adigun to the Financial Malpractices Investigation Unit of the Nigeria Police Force.
Consequently, Policemen arrived at his house; arrested and detained him.
They refused to grant him bail until he was made to pay ₦2,000,000.00 to the bank with an agreement that they would enforce the contract for repayment of the debt and any default from him will give them
They refused to grant him bail until he was made to pay ₦2,000,000.00 to the bank with an agreement that they would enforce the contract for repayment of the debt and any default from him will give them
a reason to arrest him again.
Throughout our societies and beyond we often hear people threaten their debtors with the Police.
It is important to state here that, agreements or contracts of this nature are civil transactions where the Police is precluded from unwarranted
Throughout our societies and beyond we often hear people threaten their debtors with the Police.
It is important to state here that, agreements or contracts of this nature are civil transactions where the Police is precluded from unwarranted
interference in these agreements so far there are no fraudulent intents.
It is trite that civil contractual arrangements between parties are an expression of their choice and intent to bind themselves by the subject and terms of the contract and a default from either side
It is trite that civil contractual arrangements between parties are an expression of their choice and intent to bind themselves by the subject and terms of the contract and a default from either side
is to be construed a breach of the contract enforceable in any competent court of law.
" It has been stated many times that the police has no business in enforcement of debt settlements..."[3] and as such, the Police and other security agencies should not be perceived or seen
" It has been stated many times that the police has no business in enforcement of debt settlements..."[3] and as such, the Police and other security agencies should not be perceived or seen
as debt recovery agencies.
The power conferred on the Police to detect and prevent crime, apprehend offenders and prevent law and order... pursuant to Section 4 of the Police Act does not extend to the investigation and resolution of disputes arising from simple contracts.
The power conferred on the Police to detect and prevent crime, apprehend offenders and prevent law and order... pursuant to Section 4 of the Police Act does not extend to the investigation and resolution of disputes arising from simple contracts.
Can Police Interfere in Monetary or Civil Transactions?
Yes, only when fraud is alleged. In the absence of fraud the police has no duty to enforce a contract.
WHAT SOLUTION IS AVAILABLE FOR A CREDITOR?
People traditionally believe that the involvement of Police is the most
Yes, only when fraud is alleged. In the absence of fraud the police has no duty to enforce a contract.
WHAT SOLUTION IS AVAILABLE FOR A CREDITOR?
People traditionally believe that the involvement of Police is the most
efficient means by which they can claim their debts.
This may sound valid or logical, but in reality it isn't. The use of Police or other security agencies will only lead to an abuse of due process of law and an infringement of the debtor's human right upon detention.
This may sound valid or logical, but in reality it isn't. The use of Police or other security agencies will only lead to an abuse of due process of law and an infringement of the debtor's human right upon detention.
There is a due process and steps for recovery of debt well established under the law which includes
•The preliminary step for recovery is just for you to put a call through to the person to know when you're getting paid.
•You may send them a reminder in writing.
•The preliminary step for recovery is just for you to put a call through to the person to know when you're getting paid.
•You may send them a reminder in writing.
• Go for mediation or arbitration
•Where that fails you may then issue a letter of demand demanding that the sum owed in debt be paid back.
•Contact your Lawyer for appropriate advice suitable to your situation.
WHAT CAN YOU DO WHEN IN DEBTOR'S POSITION?
Where you're arrested
•Where that fails you may then issue a letter of demand demanding that the sum owed in debt be paid back.
•Contact your Lawyer for appropriate advice suitable to your situation.
WHAT CAN YOU DO WHEN IN DEBTOR'S POSITION?
Where you're arrested
and detained by the Police as a result of a default in loan agreement, you may bring an action for enforcement of your infringed rights (right to personal liberty and sometimes right to dignity of human person) in court and you may be compensated in damages against the creditor.
Mr. Adigun Instituted an action for enforcement of his infringed right.
Well your guess is as good as mine he cashed out in damages awarded against the bank.
Oga Follow d original way make you no go dey blame yourself for borrowing pesin money oo.
Well your guess is as good as mine he cashed out in damages awarded against the bank.
Oga Follow d original way make you no go dey blame yourself for borrowing pesin money oo.
