EVALUATING BANKER-CUSTOMERS RELATIONSHIP IN BANKING INDUSTRY WITH SPECIAL EMPHASIS ON RIGHTS AND DUTIES

INTRODUCTION
BACKGROUND OF THE STUDY
Before going into the subject of this study “banker customer relationship” it is very essential to have an insight into what a banker’s and who really is a customer.

From the time immemorial, it has been a difficult and controversial task to find an acceptable definition of a banker because of the diverse activities carried out by banks.

But according to Decree No. 12 of 1990 section 16 (1) of the chartered institute of bankers define a banker as “a person who is consideration of remunerations received or to be received engage himself in the practice of banking procedure”.
It is also essential to identify what a bank is though there are so many definition of the word bank. However, we shall try as much as possible to se few of the definition as proffered by scholars.
According to 2(1) of Bill of exchange Act of 1990 defined a bank as “a body of person whether incorporated or not, who carry on the business of banking”.
While according to Dr. Herbert Hart tries to defined a bank as “a person or company carrying on business of receiving monies and collecting drafts for customers subject to the obligation of honoring cheque drawn upon them from time to time by customers to extent of the amount available on their current account”.
Mean while, different people visit banks for different reasons, while some people, visit banks to cash their personal cheque or issued in their favor, other go to deposit cash or cheque it was however decided in TREAT WESTERN RAILWAY V. COUNTRY BANKING COMPANY LIMITED (1901) that a customer is a person who has” some sort of account either deposit or current of some similar relation with a bank.
However, having some sort of account with a bank is not a condition precedent to be a customer.
Due to the bankers customer relationship, the customer and banks have obligatory rights duties which they own each other and it shall be briefly discussed, primarily the nature of the banker customer relationship is contractual.
The nature of the banker customer relationship bein special, generally and essentially contractual can take place in the following form.
i. Debtor – creditor relationship
ii. Principal agent relationship
iii. Baylor-Bailee relationship
iv. Mortgagor – mortgagee relationship
v. Executor – Trustee relationship.
Furthermore, in view of the bank-customer relationship banks peforms and renders service to their customer and their services candidly draw researcher’s attention.

STATEMENT OF RESEARCH PROBLEM
The project has been able to provide answer to the following research question.
1. What is a bank and a banker?
2. Who is a customer?
3. In what way can a banker – customer relationship exist?
4. What are the right and duties of a banker?
5. What are the right and duties of a customer?
6. How can the banker-custom relationship be established?
7. Can the banker-customer relationship be terminated?

OBJECTIVES AND PURPOSE OF THE STUDY
The following has been the aim and the objectives of the study.
1. To explain the meaning of a bank and a banker
2. To highlight who a customer is
3. To highlight the relationship between the banker-customer
4. To enumerate the right and duties of a banker
5. To enumerate the right and duties of a customer
6. To highlight the implication of banker-customer relationship
7. To expatiate the termination of banker-customer relationship