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ADEPETU & COMPANY NIGERIA LTD
V.
FBN PLC.

(2008) JELR 33463 (CA)

Court of Appeal 12 Mar 2008 Nigeria
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- The respondent/plaintiff sought declarations and damages against the appellant bank for unilateral variation of interest rates on overdraft facilities, wrongful creation of a bank account in the plaintiff’s name, and other related reliefs

Case Details

Suit Number:CA/B/114/2001
Judges:SAKA ADEYEMI IBIYEYE OFR Justice of The Court of Appeal of Nigeria STANLEY SHENKO ALAGOA Justice of The Court of Appeal of Nigeria ALI ABUBAKAR BABANDI GUMEL Justice of The Court of Appeal of Nigeria
Counsel:MR O. A. OMONUWA For Appellant MR. OLALEKAN OJO For Respondent

ALI ABUBAKAR BABANDI GUMEL, J.C.A(Delivering the Leading Judgment): This is an appeal against the decision of the Ondo State High Court, Ondo Division in Suit No. HOD/107/90. The Respondent, as plaintiff before the lower Court, sought for the following reliefs as set out in its 2nd further amended statement of claim They are:-

i. A DECLARATION that the defendant cannot unilaterally vary the terms of agreement existing between the plaintiff and defendant as regards the unilateral variation of rate of interest from 19.3% to 28.5% on the overdraft facilities the defendant granted to the Plaintiff.

ii. AN ORDER setting aside the unilateral and wrongful and illegal variation of the rate of interest referred to in (i) supra.

iii. A DECALARATION that the opening or Creation of Account No. 005 in the name of the plaintiff without the knowledge, consent and approval of the Plaintiff is wrongful, illegal null and void and of no effect whatsoever.

iv. AN ORDER setting aside the said account No.…

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