AFRICAN CONTINENTAL BANK LTD V. FESTUS SUMOILA YESUFU

M. BELLO, J.S.C. (Delivering the Leading Judgment): The facts of the case in this appeal are as follows: The appellants are commercial bankers and the respondent is their customer. In 1968, the respondent opened a current account in his personal name of Festus Omoregie Eke in the Warri Branch of the Appellants' bank. In January 1969, he opened another current account No. 8080 in the business name of "Sarah Yesufu Trading Company" and that account was also known as account No. 1. By a letter dated 29th January, 1969, the respondent requested the appellants to consolidate the two accounts and consequently the appellants transferred the balance of the first account to the account No. 8080 (account No. 1).

In connection with the business of the respondent as a seller and exporter of rubber to his foreign customers, the appellants acted as his negotiating and collecting bankers. Whenever the respondent shipped any rubber, he presented his letters of credit and shipping documents to the app…