Unity Bank Plc V. Samson E. Idemudia (2016)

LawGlobal-Hub Lead Judgment Report

JIMI OLUKAYODE BADA, J.C.A. 

This is an appeal against the Judgment of High Court of Justice Benin in the Edo State of Nigeria in Suit No. B/216/99/ BETWEEN ? SAMSON EGBOMWANRE IDEMUDIA VS UNITY BANK PLC, delivered on the 14th day of October, 2009 wherein part of the claims of Plaintiff/Respondent/Cross Appellant was granted i.e. the claim in paragraph 27(ii) and (iii) of the Plaintiff/Respondent/Cross-Appellant?s further amended statement of claim No. 3 and the claim in Paragraph 27 (i), (iv), (v) ? (xiii) dismissed

Briefly the facts of the case are that by the writ of summons and by paragraph 27 of the amended statement of claim No. 3 the Plaintiff/Respondent/Cross-Appellant claimed against the defendant/Appellant/Cross-Respondent as follows:-

?27 (i) The sum of N17,500.00 fraudulently deducted by the Defendant from the N70,000.00 loan granted to the plaintiff by the National Directorate of Employment(N.D.E) N17,500.00

(ii) Credit balance in account 11540 as at 18/2/92 ?N24,498.28

(iii) Amount fraudulently withdrawn from account 11540 by the

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Defendant on 8/5/96 without the authority/consent of the Plaintiff ? N467,648.58

(iv) Amount lodged into account 11540 on the 28/10/96 …. N15,400.00

SUB TOTAL = N525,046.86

(v) Compound interest at 24 percent per annum on N17,500.00 being the amount fraudulently deducted from the N70,000.00 loan granted to the Plaintiff by the National Directorate of Employment (N.D.E) on the 26/7/86 effect from 26/7/89 to 31/8/92.

(vi) Compound interest on N17,500.00 revised from 24 percent annum to 27 percent per annum by the Defendant with effect from 1st September 1992 to 30th June 1993.

(vii) Compound interest on N17,500.00 revised by the Defendant from 27 percent per annum to 30 percent per annum with effect from 1st July 1993 to the date of judgment.

(viii) Compound interest at 24 percent per annum on N24,498.28K being credit balance in account 11540 as at 18/2/92 with effect from 18/2/92 to 31/8/92.