Benoy Berry and Global Secure Currency Limited is taking legal actions in an Abuja High Court against the Reserve Bank of Australia and Securency Private Limited as well as Innovia Films Limited, all based in Australia. Benoy Berry and Global Secure Currency Limited is alleging a breach of pact on a polymer plant deal in Nigeria. The Nigerian company is alleging that the firms dumped the part of a partnership deal to establish a polymer currency printing plant in Nigeria hence it is demanding compensation of €126 million penalty for loss of revenue. The Australian firms were also said to be liable to €1.5 billion (about N3 trillion) damages for breach of contracts to carry out technology transfer to the Nigerian entity or establishing the polymer plant in Nigeria.

In a July 2, 2014 ruling, the court, through Justice O.O. Goodluck, had granted Benoy Berry and Global Secure Currency Limited order to serve the writ of summons on the three Australian firms, to appear in court and defend allegations regarding breach of contract agreement for the transfer of Polymer Technology and establish a polymer based mint in Nigeria

At the resumed hearing of the case, Justice Goodluck dismissed the application of the foreign firms asking the court to set aside court ex-parte order it made on February 2, 2012, against Reserve Bank of Australia based on the grounds that the order was made outside jurisdiction of the court.

According to Benoy Berry, the Australian Apex Bank had agreed through its subsidiary, Securency, Australia, to set up a Special Purpose Vehicle, SPV to facilitate the transfer of Polymer Technology, including a 0-pacification facility (Substrate Plant) in Nigeria. The agreement had also entailed that the marketing of the first defendant’s imported polymer products incidental to the general investment in the local market would be undertaken before the establishment of local production.