SOTONYE DENTON-WEST, J.C.A. (Delivering the Leading Judgment): This is an appeal against the judgment of the Honourable Justice I. A. Adegbenro of the Ondo State High Court of Justice, Akure Division delivered on the 9th day of May, 2013, dismissing the entire claim of the Appellant.
BACKGROUND FACTS OF THE CASE
The Appellant, Oloro Jay Jay 'aka God', the summary communications was awarded a contract supply and installation of mass communication studio equipment by Rufus Giwa Polytechnic, Owo. The amount to be paid as mobilization fee for execution of the contract was 40% of the total contract sum, which amounted to ₦4,930,560.00 (less other charges). While the remaining 60% would only be paid when the contract was fully completed. One of the condition for the payment of the 40% mobilization sum was the presentation of an Advance Payment Guarantee (APG) from a Bank, therefore in order to meet the demand the Appellant approached the Respondent bank, culminating into the issuance of the A…