OBANTA COMMUNITY BANK LIMITED V. OLUFEMI KAYODE AJAYI MR. T. A. AJAYI MRS. YINKA BELLO

TABAI, JCA (Delivering the Lead Judgment): In the writ of summons issued at the Ijebu-Ode Division of the High Court of Justice, Ogun State on 17/1/95, the plaintiff bank, which is appellant herein, claimed for (a) the sum of N74,990.00 (Seventy Four Thousand, Nine Hundred and Ninety

Naira), being plaintiff’s money which got lost through the negligence of the 1st defendant as admitted by him in his letter dated 31/7/94. (b) 21% interest on the amount claimed from 31/7/94 until judgment is delivered and 100% interest thereafter until the loan is fully liquidated. The 2nd and 3rd defendants are sued as guarantors of the 1st defendant. And in paragraph 23 of the statement of claim filed on 10/3/95, the claim was recast thus:-

“The plaintiff claims from the defendants jointly and severally the sum of seventy four thousand, nine hundred and ninety naira (N74,990.00) being plaintiff’s money stolen by the 1st defendant. The plaintiff further claims 21% interest on the amount from 31/7/94 unt…