A Port Harcourt Senior Magistrate Court presided by Blessings Vic-Jumbo Esq, has adjourned to Tuesday, September 14, 2021 to continue hearing in a suit filed by one Mr. Cyril Massey Harry, a retiree and business man against Industrial and General Insurance company, (IGI), over breach of personal investment saving account agreement he took with the company in 2013. Led by his counsels, Barr. Chigozi E. Nwaodu and Israel Nnanna Eze, in the matter that came up for hearing on Wednesday, September 1, 2021, the claimant, Harry told the court that in April, 2013, he took up a savings scheme with IGI. He said before he started the scheme, IGI assured him that any day he needed the money, both what he had saved and the interest accrued will be paid without problem.
The claimant further stated that in May 2016, he told IGI that he would want to terminate the scheme, and based on that, the company gave him a discharge certificate which he signed promptly and returned back to them.
He stressed that after waiting and the money did not come, in July 2016, he had to go to their head office in Lagos to find out why his money was being delayed.
According to him, IGI told him that the law permits them to keep his money for 90 days. The claimant posited that he was shocked to hear that from IGI, as he reminded them that that was not the agreement when he was signing the policy with them.
He said he then instructed his lawyer to write to IGI, adding that there were several correspondents between his lawyer and the company to that effect. He said when IGI found out he was serious about taking a legal action against the company, on October 15, 2016, which was five months after, IGI sent him a Zenith bank cheque with a cover letter.
The cheque, he said was unacceptable to him because it did not cover the interest that should have accrued from May 2016, hence he returned the cheque to IGI. Mr. Cyril Harry recalled that he made it categorically clear to Industrial and General Insurance company, IGI to be prepared to pay the cost of litigation, all his savings and the due interest.
To support his facts, the claimant presented all documents signed with the defendant, which were marked exhibits A and B.
Harry urged the court to grant him all his prayers.
Neither the defendant, IGI nor the counsel was in court
However, the presiding senior magistrate Blessings Vic-Jumbo Esq. adjourned sitting to Tuesday, September 14, 2021 for further hearing.
# Customer Sues IGII
