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O. OLATAWURA, J.S.C. (Delivering the Leading Judgment): The Appellant issued a Writ in the High Court of Anambra State of Nigeria, (now Enugu State), Enugu Judicial Division against the Respondent and claimed as follows:
"1. The defendant is a limited liability company whose registered office is situate at 148 Broad Street Lagos, and carries on commercial banking business in various places including 2 Ogui Road Enugu at which the plaintiff, a limited liability company maintains a current account and at which some of the transactions relating to the subject matter of this action, were carried out.
2. The plaintiff has suffered damages as a result of negligence of the defendant or its employees in the course of and within the scope of their employment, as follows:-
(a) In May 1986, the plaintiff obtained an import licence valid for foreign exchange to import goods worth ₦1,202,830.00 from Klosa and Staas, Western Germany. The defendant, for valuable consideration, undertook to establis…