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FIRST BANK OF NIGERIA PLC V. EXCEL PLASTIC INDUSTRY LIMITED

(2002) JELR 47036 (CA)

Court of Appeal  •  CA/C/106/2001  •  20 Nov 2002  •  Nigeria

Coram
DENNIS ONYEJIFE EDOZIE JCA SIMEON OSUJI EKPE JCA SULE AREMU OLAGUNJU JCA

Judgement

DENNIS ONYEJIFE EDOZIE, J.C.A. (Delivering the Leading Judgment): The Respondent in these proceedings, a limited liability manufacturing company was the Plaintiff in suit No. C/387/94 dated 29th September, 1994 filed at the Calabar High Court against its bankers the defendant herein appellant. The claim as spelt out in paragraph 18 of the Respondent's statement of claim which supercedes the writ of summons is in the following terms:

"Wherefore the plaintiff claims against the Defendant are as follows:

(1) Repayment of the total sum of DFL 464,270.65 to the plaintiffs together with interest thereon calculated at the average rate of 17.5% per annum from 1981 till 30th September, 1994 amounting totally to DFL 3,215,330.54 or N39,816,402.23.

(2) Interest on the said N39,816,402.23 calculated at the current bank rate from October, 1994 until this case is finally determined.

(3) General damages in the sum of N150,000,000.00 for:

(a) Loss of business/earnings for 12 years including loss of p…

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