LAMBOYO LIMITED V. NEW NIGERIA BANK PLC

ADEREMI JCA (Delivering the Lead Judgment): The appeal here is against the decision of the High Court of Justice, Edo State, Igarra Division in suit No. HIG/27/92, Lamboyo Ltd v. New Nigeria Bank Plc. delivered on the 25th of April, 1996. The plaintiff (hereinafter referred to as the appellant) had by paragraph 12 of its statement of claim dated 18th November, 1992 sought against the defendant (hereinafter referred to as the respondent) the following relief:-

The sun of US $87,000.00 (eighty-seven thousand United States dollars) being the proceeds of the plaintiff’s export of cocoa beans to London during the 1989/1990 cocoa season which the defendant has refused and/or neglected to pay to the plaintiff despite repeated demands. 2. 25%interest onthe said US $87,000.00 (and the interest should be paid in United States dollars) from March 1990 when the proceeds were received by the international division of the defendant/company until date of judgment and 6% interest on the judgment s…