UNITED BANK FOR AFRICA PLC V. GODM SHOES INDUSTRIES (NIG.) LTD

AYOBODE OLUJIMI LOKULO-SODIPE JCA (Delivering the Leading Judgment): This appeal is against the judgment delivered on 10th October, 2005 by Hon. Justice C.E. Iyizoba of the Onitsha Judicial Division of the High Court of Justice, Anambra State (as he then was), in Suit No. 0/829/1998 - Godm Shoes Industries (Nig.) Ltd v. United Bank For Africa Plc. The learned trial Judge entered judgment for the Plaintiff, i.e. Godm Shoes Industries (Nig.) Ltd in the sum of ₦4,500,000.00 being the value of the a draft paid into the Plaintiffs account with the Defendant Bank with interest at the rate of 10% per annum from 16/4/96 until the date of judgment and thereafter at the rate of 5% on the judgment debt from the date of judgment and until the same is entirely liquidated. Costs assessed at ₦10,000.00 was also awarded in favour of the Plaintiff.

The brief facts of the case as gathered from the Amended Statement of Claim and Further Amended Statement of Defence respectively, of the parties filed bef…