MUSDAPHER JSC (Delivering the Lead Judgment): In the High Court of Justice of Ondo State, in the Akure Judicial Division and in suit No. Ak/305/94, the plaintiff as per paragraph 94 of its amended statement of claim claimed against the defendant as follows:-
“94. Whereof the plaintiff claims from the defendant as follows:
(1) A sum of ₦71,000,000.00 (Seventy-one million naira) as follows:
(a) A sum of ₦47,000.00 being anticipated profit which the plaintiff lost due to the refusal and/or failure to release to the plaintiff a sum of at least ₦5 million NEXIM fund, three years revolving export finance facility or arose from the refusal and or failure on the part of the defendant to process the plaintiff’s application for ₦5 million NEXIM three years revolving export finance facility for 1991/92, 1992/93 and 1993/94.
(b) A sum of ₦12 million as damages from the refusal of the defendant to release to the plaintiff letters pledged securities with the defendant but for which no fund was made …