Innocent Augustine Mkpedem & Ors V. United Bank For Africa PLC & Anor (2016)

LawGlobal-Hub Lead Judgment Report – COURT OF APPEAL

JOSEPH OLUBUNMI KAYODE OYEWOLE, J.C.A.(Delivering the Leading Judgment)

This is an appeal against the judgment of the High Court of Cross River State, Calabar Judicial Division delivered on the 30th day of May, 2014 by Ofem J.

The Appellants and the 2nd Respondent were partners in a business venture called Racing Ventures registered as a business name with the Corporate Affairs Commission. Without the knowledge or consent of the other partners operating the said business name, the 2nd Respondent who was saddled with the running of the day to day operations, opened a bank account with the 1st Respondent through which he allegedly diverted the sum of N1,911,000.00 being the proceeds of haulage transactions done by the partnership with the United Cement Company of Nigeria Ltd, Calabar, Cross River State.

Whereupon the Appellants took out a writ of summons against the Respondents seeking the following reliefs against only the 1st Respondent:

The Claimants claim against the 1st Defendant Special and General Damages as follows:

PARTICULARS OF SPECIAL DAMAGES

Loss of monthly income at the rate of N450,000.00 per month from March, 2010 to

1

August, 2013, that is 42 months = N18,900,000.00

GENERAL DAMAGES:

Compensation for conversion of Claimants’ cheques in the sum of N2,554,500.00 Frustration, emotional/mental stress, pains and anguish N150,000,000.00 Cost of this action N1,000,000.00 N169,900,000.00.

The 1st Respondent joined issues with the Appellants on the pleadings and contested the action while the 2nd Respondent did not appear to the suit. At the trial the 1st Appellant was the sole witness for the Appellants while 1st Respondent called one of its officials, the relationship manager at its Calabar Road, Calabar Branch as its sole witness. After taking the final addresses of counsel, the learned trial Judge gave a considered judgment delivered as earlier stated on the 30th May, 2014 dismissing the Appellants, claim with costs.

Peeved at this outcome, the Appellants invoked the appellate jurisdiction of this Court via a Notice of Appeal filed on the 8th August, 2014 containing 5 grounds.

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