OGUNDARE, JSC (Delivering the Leading Judgment): The appellants were, at all times relevant to this case, customers of the respondent bank. All the appellants belong to a group known as Olori Group of Companies. Following the cancellation by the respondent of purported letters of credit issued by it at the request of the appellants, the latter sued, claiming as per paragraph 27 of their amended statement of claim-
"27. WHEREFORE all the plaintiffs claim against the defendant as follows:-
(i) an order of injunction restraining the defendant and all their agents whomsoever from taking any steps to sell any of the plaintiffs' properties mortgaged to it since the defendant is in fact indebted to the plaintiffs.
(ii) the sum of ₦656,919,000.00 only being special and general damages against the defendant for breach of contract arising from the unlawful cancellation of irrevocable letters of credit issued by the defendants, and so issued for valuable consideration given by the plaintiffs to …