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ADEPETU & COMPANY NIGERIA LTD V. FIRST BANK OF NIGERIA PLC.

(2008) JELR 33463 (CA)

Court of Appeal  •  CA/B/114/2001  •  12 Mar 2008  •  Nigeria

Coram
SAKA ADEYEMI IBIYEYE OFR JCA; STANLEY SHENKO ALAGOA JCA; ALI ABUBAKAR BABANDI GUMEL JCA;

Judgement

ALI ABUBAKAR BABANDI GUMEL, J.C.A(Delivering the Leading Judgment): This is an appeal against the decision of the Ondo State High Court, Ondo Division in Suit No. HOD/107/90. The Respondent, as plaintiff before the lower Court, sought for the following reliefs as set out in its 2nd further amended statement of claim They are:-

i. A DECLARATION that the defendant cannot unilaterally vary the terms of agreement existing between the plaintiff and defendant as regards the unilateral variation of rate of interest from 19.3% to 28.5% on the overdraft facilities the defendant granted to the Plaintiff.

ii. AN ORDER setting aside the unilateral and wrongful and illegal variation of the rate of interest referred to in (i) supra.

iii. A DECALARATION that the opening or Creation of Account No. 005 in the name of the plaintiff without the knowledge, consent and approval of the Plaintiff is wrongful, illegal null and void and of no effect whatsoever.

iv. AN ORDER setting aside the said account No.…

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