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A.A MACAULAY v. NAL MERCHANT BANK LTD

(1990) JELR 45327 (SC)

Supreme Court  •  SC.186/1986  •  29 Jun 1990  •  Nigeria

Coram
AUGUSTINE NNAMANI JSC; ADOLPHUS GODWIN KARIBI-WHYTE JSC; SALIHU MODIBBO ALFA BELGORE JSC; ABDUL GANIYU OLATUNJI AGBAJE JSC; ABUBAKAR BASHIR WALI JSC;

Judgement

A.O. AGBAJE, JSC: (Delivering the Leading Judgement): The plaintiff bank, NAL Merchant Bank Ltd., sued the defendant, Mr. A. A. Macaulay in a Lagos High Court claiming against him as follows:

The plaintiff's claim against the defendant is for the sum of N93,490.95 (Ninety three thousand, four hundred and ninety naira, ninety-five kobo) being the amount due and payable by the defendant to the plaintiff as at 30th September, 1984 for money lent in form of a term loan to the defendant at the defendant's request in the normal course of plaintiff's business as a banker together with interest and the usual bank charges thereon, which sum defendant has refused and neglected to pay A in spite of repeated demands.

And the plaintiff also claims interest on the said sum of N93 ,490.95 at the rate of 91/2% per annum from 1st October, 1984 until judgment and thereafter at the rate of 91/2% per annum until final liquidation of the whole debt together with costs.

The writ of summons containing the c…

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