The relationship between Commercial banks and their Customers in Nigeria imposes some duties and obligations on both the banks and the customers. The fundamental duty of a banker to the customer is to ensure the security of the money in the account operated by the customer. The reality in Nigeria is that customer’s accounts are daily endangered by the activities of fraudsters facilitated by the use of technological devices. The study examined the liability of parties and how to combat the challenges. The study is doctrinal and the data are obtained from statutes, judicial decisions, textbooks, journal articles, newspapers and materials from the internet. The study found out that unauthorized withdrawal is a breach of the trust of the customer in the banker/customer relationship with severe consequence of destroying the goodwill of the banker and loss of customers. The study concluded that the challenge can be combated by the banks through the use of sophisticated devices to forestall the activities of fraudsters and the detection of the culprits.
Keywords: Cybercrime, Recapitalization, banker, countermand, garnishee
