<p><strong>SULEIMAN GALADIMA, J.C.A. (Delivering the Leading Judgment): </strong>This is an appeal against the judgment of Agbo (J.) of the Enugu High Court, delivered on 16/11/2000, in an arbitration award in favour of plaintiff (hereinafter referred to as &quot;the respondent&quot;) in a claim brought against the defendant (hereinafter referred to as &quot;the appellant&quot;).</p><p> The case of the appellant is that he is an engineering contractor and customer of the respondent who had a fixed deposit of ₦18 Million which was given to the respondent as a collateral to secure an over-draft of ₦5 Million, which was later increased.</p><p> When disagreement arose about the state of the appellant&#x27;s account, both parties willingly submitted the dispute to arbitration by a legal practitioner. The arbitrator gave the appellant an award of ₦7,893,408.34 together with interest of 21% thereon from 1/9/94, till the date of judgment and 5% interest from then until the judgment sum is liquidated.</p><p> Being dissatisfied with this judgment, the appella…</p>