HIGHGRADE MARITIME SERVICES LIMITED V. FIRST BANK OF NIGERIA LIMITED

A. B. WALI, J.S.C. (Delivering the Leading Judgment): On the 22nd October, 1990 I dismissed this appeal and indicated to give my reasons for doing so today. By a Writ of Summons filed in the High Court of the Port Harcourt Judicial Division on 17th October, 1983, the plaintiff, Highrade Maritime Services Limited, claimed against the defendant, First Bank of Nigeria Limited, situate at Aba Road Port Harcourt, as follows:-

"The plaintiffs claim against the defendant is the total sum of N1,568,966.35 (One million, five hundred and sixty-eight thousand, nine hundred and sixty-six naira, thirty-five kobo) being money had and received by the defendant to the use of the plaintiff at Port Harcourt within the jurisdiction of this Honourable Court in the course of the defendant's business as a banker and in respect of the plaintiff's Current Account No.02025984 with the defendant's branch at Aba Road, Port Harcourt, common or popularly known as the Airport Branch.

The plaintiff has closed the …