ALHAJI SALISU NA INKE V. BANK OF THE NORTH LTD.

RABIU MOHAMMAD, JCA (Delivering the Leading Judgment): The respondent herein i.e. Bank of the North was the plaintiff at the lower court. It instituted this suit before the Katsina High Court claiming the following:-

“The plaintiff’s claim against the defendant is for the recovery of the sum of N877,170.73 (Eight hundred and seventy seven thousand, one hundred and seventy nine naira, seventy three kobo only), being the total principal sum plus accrued interests on an overdraft/loan facility the plaintiff advanced to the defendant at the latter’s (defendant’s) request vide his Account No. 430003, (sic) maintains with the plaintiff bank (Katsina Branch), which current balance stands at N877,179.73 as at 30/11/98 outstanding against the defendant, who has refused or failed and/or neglected to pay inspite of repeated demands for same. The plaintiff also claim 21% at bank rate of interest at the current bank rate of interest from 30/11/98 on the aforestated debt, and thereafter 10% at court…