An Appraisal of the Relationship between Banker and Customer in Nigeria

Abstract

The relationship subsisting between banker and customer is basically contractual and fundamentally that of debtor and creditor. It also consists of general and special contracts arising from the particular requirements of the banking business. As such, the relationship existing between banker and customer cannot be exhausted. This is so as new banking services and products are emerging continuously. Therefore, the services rendered or products sold by bank to its customer would always determine what relationship subsists between banker and customer at any point in time. Every type of contractual relationship naturally imposes some rights and duties on the contractual parties; and this fact extends to banking relationship. The relationship exacts a number of obligations on banker and customer as well as corresponding rights on the banker and the customer respectively. In view of this, the paper appraises the relationship that exists between banker and customer, analyzing the rights and duties of banker and customer respectively. It also demonstrates the special relationships that underline a banker – customer interaction. These include bailment, agency, lease, mortgage, trusteeship and executorship. The linkages are in terms of the transactions.