I. L. KUTIGI, J.S.C. (Delivering the Leading Judgment): In the Federal High Court holden at Benin-City, the plaintiff's claims against the defendant as contained in para.22 of the Statement of Claim read thus -
"(i) The sum of N660,255.95 being the sum for which the goods were actually insured.
(ii) Interest at the rate of 10% until date of judgment having regard to the terms of the Policy No. MAR.4940/8/79 for which Certificate No.1162 was issued to plaintiff.
(iii) Compound interest at the rate of 10% until date of judgment having regard to the Bank interest being paid by the plaintiff."
After the filing and exchange of pleadings the case proceeded to trial. At the trial the plaintiff called four witnesses in support of his claims and tendered a number of documentary exhibits including a copy of the Marine Insurance Policy No.4940/8n9 issued by the defendant to the plaintiff (Exhibit N), the Certificate of Insurance No. 1162 (Exhibit C) and Bill of Lading (Exhibit A). The defendan…