Ratio DecidendiRatio DecidendiRatio DecidendiRatio DecidendiRatio DecidendiRatio DecidendiRatio DecidendiRatio DecidendiRatio DecidendiRatio DecidendiRatio DecidendiRatio Decidendi



AFRIBANK NIGERIA PLC
V.
AMINU ISHOLA INVESTMENT LTD

(2001) JELR 39807 (CA)    

Court of Appeal  ·  CA/IL/42/2000 ·  10 Dec 2001 ·  Nigeria
 · 
Other Citations
Afribank (Nig.) Plc. v. A.I. Invest. Ltd. [2002] 7 NWLR (Pt.765)
CORAM
MURITALAAREMU OKUNOLA JCA PATRICK IBE AMAIZU JCA WALTER SAMUEL NKANU ONNOGHEN JCA

Ratio Decidendi

Core Terms Beta
learned trial judge
general damages
facts of the case
judgment of the high court of justice
breach of contract
further award
favour of the respondent
further amended statement of claim
view of the earlier award
tort of detinue
customer of the appellant
fixed deposit
initial rate of interest
plaintiff claims
lower court
way of special damages
agreed interest
initial interest
trite law
action of the appellant
fixed deposit account
whole circumstances of this case
kwara state
learned counsel
whole amount
refusal of the defendant
monthly interest
principle of detinue
fact of the case
following passage
customer's cheque
return of the said goods
central bank of nigeria
ilorin branch of the appellant
statement of claim
leading judgment
banker holds
following reliefs
currency of the agreed period of deposit
supreme court decision
interest
facts of the instant case
constitutional right
amended statement of claim
learned authors of mcgregor
judgment of the lower court
paget's law
such damages
evidence of the respondent

ONNOGHEN, J.C.A. (Delivering the Leading Judgment): This is an appeal against the judgment of the High Court of Justice of Kwara State in suit NO. KWS/188/91 delivered by Hon. Justice Ahmed Belgore on 21st December, 1999 in favour of the respondent in which he ordered the return of the sum of ₦467,000.00 which was kept as a fixed deposit to the respondent with interest thereon and further awarded general damages of ₦2 million against the appellant.

The facts of the case include the following:

Sometime in August 1988 the respondent as a customer of the appellant opened a fixed deposit account with the sum of ₦467,000.00 at the Ilorin branch of the appellant. It was agreed by the parties that an initial interest of 12.25% per annum would be payable on the deposit and that the monthly interest on the fixed deposit shall be transferred into the respondent's current account every month. The parties also agreed that the initial rate of interest of 12.25% per annum could be renewed upwards a…

There's more. Sign in to continue reading.

judy.legal is the comprehensive database of case law and legislation from Ghana, Kenya and Nigeria. Gain seamless access to over 20,000 cases, recent judgments, statutes, and rules of court.

Get started   Login