GON-SETEC Nig. Limited, a water engineering firm, has formally demanded the payment of the sum of N150 million from Fidelity Bank Nig Plc due to the wrongful termination of its engagement with the bank.
This demand is articulated in a letter dated July 20, 2026, authored by the firm’s legal representative, Chief Kola Kuforiji, Principal Partner of Kola Kuforiji Law Company, Lagos.
The correspondence indicates that the company was engaged by the bank through a letter dated May 6, 2026, to address regulatory compliance issues faced by the bank’s headquarters with the Lagos State Waste Water Regulatory Authority.
The regulatory crisis had escalated to the extent that the authority issued a 72-hour Abatement Notice to the bank, as stated in the letter.
The legal representative enumerated the terms of engagement for his client, which included the review of the statutory notice served on the bank, advising the bank on appropriate technical and regulatory responses, direct engagement with the Lagos State Waste Water Management Office on behalf of the bank, liaising and negotiating with regulatory officials to avert enforcement actions, and advising the bank on all compliance measures necessary to satisfy the regulatory authority.
He recalled that the bank had mandated the company to act with urgency to prevent prosecution, sanctions, closure of its facilities, and other enforcement measures.
The letter further explained that the client maintained its commitment and successfully secured a two-week extension from the regulatory authority.
According to the letter, GON-SETEC Nig. Limited periodically briefed the officials on the progress and interactions it had with the regulatory authority.
The legal representative asserted that his client was subsequently informed, much to its dismay, that the bank had awarded the contract to another firm after benefiting from the expertise of his client.
Consequently, GON-SETEC Nig. Limited has demanded that the bank pay the sum of N150 million for specific and general damages.
The company threatened to initiate legal proceedings against the bank should it refuse or neglect to comply with this demand within 14 days of receipt of the letter.
