AUGIE JCA (Delivering the Lead Judgment): The appellant was a customer of Trade Bank Plc at its Ikeja branch, and he enjoyed various short term facilities from the bank, which he promptly repaid. On 17 May 2001, he was granted an “overdraft facility” in the sum of N2,000,000.00 (two million naira) to “import some fairly used Mercedes trucks and generators from Europe” and the expiry date was 21 July 2001. He failed to repay the facility as at that date, and after several letters of demand from the bank, he forwarded N500, 000.00(five hundred thousand naira) as part repayment of his indebtedness to it. The bank then renewed the N2,000,000.00 (two million naira) facility for 180 days from 8August 2002 to 3 February 2003 for recovery purposes only. Subsequently, by a letter dated 13 July 2003, the bank conveyed waiver of 50% of the cumulative interest to enable him pay N3, 084, 737.94 (three million, eight-four thousand, seven hundred and thirty-seven naira,ninety-four kobo) as full an…