BILANTE INTERNATIONAL LTD. V. NIGERIA DEPOSIT INSURANCE CORPORATION

JOHN AFOLABI FABIYI, JSC (Delivering the Leading Judgment): The appellant/cross-respondent herein was the plaintiff in the High Court of Enugu State. It claimed the sum of ₦95,684,741.57 as special and general damages for breach of contract to lend money for its road construction project. The respondent/cross-appellant filed a counter-claim thereat for outstanding and unpaid overdrafts made to the appellant amounting to ₦13,050,002.79 as at 29th February, 1992. The trial court awarded the sum of ₦75,684,741.57 damages against the defendant. It also dismissed the defendant's counter-claim.

The defendant appealed to the court of Appeal, Enugu Division ("the court below" for short) against the whole judgment. The court below set aside the judgment of the trial court on 13th January, 1997 in respect of the stated damages awarded. However, it upheld the dismissal of the counter-claim by the trial court.

Both sides have appealed to this court. The plaintiff filed the main appeal while the d…