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POLARIS BANK LIMITED (FORMERLY SKYE BANK PLC) V. FORTE OIL PLC (FORMERLY AFRICAN PETROLEUM PLC)

(2022) JELR 109880 (SC)

Supreme Court  •  SC.CV/1006/2020  •  8 Jul 2022  •  Nigeria

Coram
Olukayode Ariwoola JSC Uwani Musa Abba Aji JSC Mohammed Lawal Garba JSC Adamu Jauro JSC Tijjani Abubakar JSC

Judgement

TIJJANI ABUBAKAR, J.S.C. (Delivering the Leading Judgment): This appeal emanates from the decision of the Court of Appeal Lagos Division delivered on the 11th day of September, 2020. The lower Court in its judgment allowed the Appellant's appeal in part, setting aside the award of the sum of N3,400,000,000 against the Appellant. 

The Respondent as the Plaintiff in Suit No. FHC/L/CS/160/2013 commenced action by a Writ of Summons before Federal High Court Lagos, where the following reliefs were sought against the Appellant, who was the defendant at the trial Court.; 

I. "A declaration that the manner in which the defendant operated then plaintiff's Account No. 0030015642617 with the defendant is wrongful, irregular, unethical and contrary to all known banking regulations and practice. 

II. An order directing the defendant to credit the plaintiff's Account No. 0030015642617, with the defendant, with the sum of N3,441,529,445.17K (Three Billion, Four Hundred and Forty-one million, Five Hu…

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