Mathias Umeanozie V. First Bank of Nigeria Plc (2016)

LawGlobal-Hub Lead Judgment Report

EMMANUEL AKOMAYE AGIM, J.C.A.

On 28-11-1985, the appellant herein as plaintiff, filed a claim and caused the issuance of a writ of summons on the same day, commencing suit No 0/44/85 in the High Court of Anambra State at Onitsha against the respondent herein and Central Bank of Nigeria as defendants.

The suit was tried on the following pleadings ? 2nd amended statement claim filed on 8-8-2007 accompanied by list of witnesses, depositions of witnesses, list of documents and the documents to be relied on at the trial and the further, further amended statement of defence of the 1st defendant filed on 22-11-2007 accompanied by list of witnesses, witness depositions, list of documents, and document to be relied on at the trial.

The plaintiff applied for the withdrawal of the suit against the Central Bank of Nigeria and its name was struck out as defendant in the suit by the trial Court.

The reliefs claimed for by the plaintiff are stated in paragraph 41 of the 2nd amended statement of claim as follows-

“1. A DECLARATION that the 1st Defendant was in breach of its duty to the

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plaintiff by its failure to remit to the plaintiff?s overseas suppliers the various purchase sums (in foreign currency) for goods paid for by the plaintiff through the 1st Defendant as the plaintiff?s bankers.

2. AN ORDER directing the 1st Defendant to pay to the plaintiff the sums of US$6,955.00, US$7,080.00 US$6,980.00, US$6,800.00, US$7,050, 00, US$7,160.00 and US$7,040.00 totalling Us$49,065.00 or its Naira equivalent at the prevailing exchange rate at the time the 1st Defendant decides to make the payment, being the value of the letters of credit Nos. 273/82/117/ID and 273/82/118/ID.273/82/119/ID. 273/82/120/ID. 273/82/121/ID, 273/82/122/ID AND 273/82/123/ID, received by the 1st Defendant from the plaintiff not remitted to the plaintiff?s overseas suppliers or refunded to the plaintiff.

3. Interest on the above sum at the rate of 35% per annum from November 1982 until judgment and thereafter at the rate of 15% until final liquidation of the judgment sum.

4. N180,000,000 (One Hundred and Eighty Million Naira) being loss of profit since 30th November 1982 to date of judgment.

5. N100,000,000,00 (One

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Hundred Million Naira) being loss of reputation with business partners in Taiwan.