Questions about corporate accountability and professional engagements have emerged following a dispute between Fidelity Bank Plc and environmental engineering company, GON-SETEC Nigeria Limited.
The disagreement arose from efforts to address regulatory compliance issues involving wastewater management facilities at Fidelity Bank’s Lagos headquarters.
Documents show that Fidelity Bank sought GON-SETEC’s intervention after receiving a regulatory notice from the Lagos State Wastewater Management Office.
The engineering firm was reportedly tasked with reviewing the notice, engaging regulators and advising on compliance requirements.
In its documents, GON-SETEC claims it subsequently secured additional time for the bank to address the matter and undertook substantial technical and regulatory work in line with the mandate given to it by the bank.
However, after months of engagement, the GON-SETEC says that it was sidelined and denied the opportunity to execute the project to the full. Through its solicitors, GON-SETEC is demanding N150 million from Fidelity Bank.
Observers in the engineering industry note that the case raises broader issues concerning the rights of consultants and contractors who expend resources on urgent assignments before project implementation decisions are made.
Engr. Emeka James spoke to our reporter on the matter, saying that the attitude of some big corporations who treat smaller companies as if there were no laws governing contractual engagement was baffling.
Engr. Okoro Ohaegbulem also spoke to our reporter in Owerri, expressing fears that the development is not good for the banking industry.
He said: “The outcome of the dispute could have implications for future relationships between large corporations and specialized technical consultants in Nigeria.”
In the words of Okenze George Nkwoji, the Managing Director of GON-SETEC, “we will not allow Fidelity Bank to get away with this corporate rascality and lawlessness. Other organizations which benefited from our professional competence usual give us letters of commendations and further patronage. Therefore if the bank fails to respond to our demand, we will help it t o stop that project “.
