NWEZE JSC (Delivering the Lead Judgment): At the High Court of Lagos State, the appellants in this appeal (as plaintiffs) claimed against the 1st respondent herein (as defendant) the following relief as per the statement of claim before that court (hereinafter, simply, referred to as “the trial court”):
“Whereof the plaintiff’s claim against the defendant is for the sum of ₦50,000,000.00 (fifty million naira).
The defendant as drawer of bank certified cheques totaling ₦4,500,000.00 (four million, five hundred thousand naira) drawn upon the defendant bank at its Moloney Street Branch, Lagos, payable to the plaintiff and delivered by S.C.O.A. to the plaintiff which said cheques were duly presented for payment on 12 June 1989, which were dishonoured and although the defendant had due notice thereof by letters date d 8 June 1989 and 12 June 1989, respectively, the defendant still refused and/or neglected to pay the said cheques.”
(pages 261-262 of the record)
At the instance of the 1st …