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AMINA ADAMU AUGIE, J.C.A. (Delivering the Leading Judgment): By a letter dated 25/6/2007, the 1st Appellant requested for an - "I-Margin share loan of One Billion Naira to buy First Bank Plc. Public offer shares" from "Intercontinental Bank Plc.", and it stated therein that - "we intend to make a 25% Contribution of N250 Million making your own 75% contribution of N750 Million quota to be N1 Billion". The Bank approved the loan on the terms and conditions set out in its offer letter dated 6/7/2007, which includes -"Purpose - To part finance the purchase of First Bank Shares; - Tenure - 180 days". However, by a letter dated 2/12/2007, the 1st Appellant asked the Bank "to roll over the facility for another 180 days under the same terms as contained in the offer letter to enable us purchase the Fidelity Bank shares public offer". It also wrote another letter to the "Vice Chairman/CEO" of the Bank, where it stated -
"...We are aware of the maturity date of January 2008 of the N750 Million…