ONU, J.S.C. (Delivering the Leading Judgment): This is an appeal against the decision of the Court of Appeal, Jos Division (Coram: Oguntade. Edozie and Muntaka Coomassie, JJCA) sitting in Jos which on 11th November, 1996 allowed the appeal of the defendant (herein respondent) and dismissed plaintiffs case in an action founded in contract involving foreign exchange transaction entered into between the plaintiff (herein appellant) and the defendant. The Court of appeal (hereinafter referred to as the court below) in addition, allowed the defendant's cross-appeal thus culminating in the judgment of the trial Federal High Court in Suit No. FHC/J/10/93 appealed against being set aside in its entirety.
Briefly stated, the appeal herein began like this:-
The plaintiff was granted a loan by the defendant to finance a project for the production of medicated cotton wool and bandages in Bukuru near Jos. Plateau State of Nigeria. Unhappy about the losses it has sustained and allegedly caused by t…