Without a doubt, a banker has the duty to exercise reasonable care and skill in regard to its customer’s affairs. The law is that a bank has a duty under its contract with its customer to exercise reasonable care and skill in carrying out its part with regard to the operations within its contracts with its customers. The duty to exercise reasonable care and skill extends over the whole range of banking business within the contract with the customer and includes interpreting, ascertaining and acting in accordance with the instruction of the customer. The relationship between the banker and customer is contractual and the relationship, in the absence of an express agreement between the parties to the contrary, is implied from the course of business between them. In circumstances where it has been alleged that a bank was negligent, as in this case, the circumstances must be such that establishes that the bank was not prudent or did not act in a satisfactory manner, in which case the tort of negligence will arise; since a prudent banker will never ignore the instruction given by the customer.
– Ogakwu, J.C.A Fijabi v. FBN (2021)