UNION BANK OF NIGERIA PLC & ANOR. V. IFEOLUWA NIGERIA ENTERPRISES LTD.

RAPHAEL C. AGBO, JCA (DELIVERING THE LEADING JUDGMENT): The respondent is a customer of the 1st appellant. On 26th February, 1996, the respondent sent one of its employees to the Isolo, Lagos branch of the 1st appellant to pay in some money into its account with the appellant. Some armed bandits broke into the bank and snatched some of the money already handed over to the 2nd appellant, a servant of the 1st appellant. On the refusal of the 1st appellant to credit the account of the respondent with the amount equivalent to the said snatched sum, the respondent proceeded at the Lagos State High Court against the appellants in suit No. ID/1593/96 praying the court as follows:

"1. The plaintiff's claim against the defendants is in the sum of ₦925,000.00 (Nine hundred and twenty five thousand Naira) only being the amount of money within the defendants' premises owing to the negligence of the defendants on Monday the 25th day of February, 1996 at about 11.00 hours at the Isolo branch of the…