The Court of Appeal has voided the N20 million in general damages previously awarded to Biatemp Ventures Limited by a Federal High Court against First Bank of Nigeria. The judgment, delivered on February 4, 2026, by a three-man panel led by Justice A.A. Banjoko, overturns the earlier decision that had also implicated the Federal Inland Revenue Service (FIRS).

The initial litigation at the trial court involved a N20 billion claim by Biatemp Ventures, centering on allegations of manipulation of its domiciliary account and tax obligations. While the trial court had found that Biatemp Ventures did not sufficiently prove account manipulation by the bank, it proceeded to award N20 million against First Bank and FIRS for alleged "embarrassment and reputational damage."

In the lead judgment, Justice Banjoko reviewed the case and held that the trial court had not identified any independent wrongful act attributable to First Bank. The delay in the issuance of the Tax Clearance Certificate was traced to an investigation by the FIRS, not to any proven misconduct by the bank.

Justice Banjoko emphasized that in the absence of a proven breach of duty, negligence, or other actionable wrong against the bank, "the award of general damages becomes legally unsustainable." The judge further explained that while Biatemp Ventures had argued that the lower court had discretion to award general damages, such discretion must be exercised judicially and judiciously, based on sound legal principles and established facts, which were not met in this instance.