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UNITY BANK PLC v. RAYBAM ENGINEERING LIMITED

(2017) JELR 38288 (CA)

Court of Appeal  •  CA/L/757/2014  •  10 Feb 2017  •  Nigeria

Coram
MOHAMMED LAWAL GARBA JCA; YARGATA BYENCHIT NIMPAR JCA; UGOCHUKWU ANTHONY OGAKWU JCA;

Judgement

UGOCHUKWU ANTHONY OGAKWU, J.C.A.(Delivering the Leading Judgment): This appeal arises from a banker customer relationship between the parties. The Respondent was a customer of Pacific Bank Limited, which later merged with other banks to birth the Appellant. In the course of the business of the Respondent, it was given a contract by the Ondo State Government for the supply of tricycles. The Respondent approached the Appellant for a loan to finance the performance of the contract. The Appellant obliged with the loan and the contract was performed. The parties however disagreed on the state of the finances, with the Respondent contending that the Appellant made some improper deductions on its account; while the Appellant contended that the Respondent was indebted to it in respect of the facility.

The disceptation was subject of litigation at the High Court of Lagos State in Suit No. ID/478/2007: RAYBAM ENGINEERING LIMITED v. UNITY BANK PLC where there was a claim and a counterclaim. The R…

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