TRENCO (NIG) LTD V. AFRICAN REAL ESTATE AND INVESTMENT COMPANY LTD & ANOR

A. N. ANIAGOLU, JSC (Delivering the Leading Judgment): This is an appeal from the judgement of Kassim, J, sitting in the High Court of Lagos, in a suit commenced since June, 1966, in which the plaintiff company claimed variously as follows:

"The Plaintiff seeks as against both defendants jointly and severally an order of declaration that the total payments of 12, 710.3.2pounds by the 2nd defendant Bank to the plaintiff plus bank charges and interest thereon were payment made on behalf of the 1st defendant to the plaintiff and not loan or advances made to plaintiff as customer of the said Bank and the said sums are therefore not recoverable from the plaintiff. Pursuant to a building contract between the plaintiff and the 1st defendant, the 2nd defendant paid the plaintiff a total sum of 12,710.3.2pounds from the funds of the 1st defendant deposited with the 2nd defendant.

The 1st defendant has now committed breach of the said contract, 2nd defendant now threatens to treat the said sums…