(1997) JELR 45371 (CA)    

Court of Appeal  ·  CA/B/85/96 ·  2 May 1997 ·  Nigeria
Other Citations
U.B.N. Plc. v. Eskul Paints Ltd. (1997) 8 NWLR (Pt. 515)
U.B.N. Plc v. Eskol Paints Ltd. (1997) 8 NWLR (Pt. 515) 157
Lori v. Akukalia (1998) 12 NWLR (Pt. 579) 592
JUSTIN THOMPSON AKPABIO Justice of The Court of Appeal of Nigeria SYLVANUS ADIEWERE NSOFOR Justice of The Court of Appeal of Nigeria ATINUKE OMOBONIKE IGE Justice of The Court of Appeal of Nigeria
Core Terms Beta
learned trial judge
us dollars
contributory negligence
naira equivalent
senior advocate
senior counsel
date of judgment
foreign currency
initial deposit
original position
account of the plaintiff
sum of n12,455,235.00
valid guarantee
validity of the said guarantee
central bank of nigeria
foreign exchange transaction
measure of damages
statement of claim
above reason
abuse of court process
accrued interest of n10,093,625.74
attention of the court
award of the interest
claim of the plaintiff
due course briefs of arguments
edo state high court
exhibits p.k.p.m.
favour of plaintiff
favour of plaintiffs
following conclusion
following observations of the supreme court
further grounds of appeal
issue of estoppel
issue of refund
judgment of eruaga
leading judgment
learned trial judge eruaga
limitation laws of bendel state
numerous documentary exhibits
plaintiffs claim
plaintiffs claim of n10,093,625.74
reply statement of defence
reputable bank
true facts
view of the authorities

AKPABIO, J.C.A. (Delivering the Leading Judgment): This is an appeal and Cross-appeal against a judgment of ERUAGA, J., of Edo State High Court. holden at Benin City in suit No. B/83/90 delivered on 19th May, 1995 wherein he entered judgment in favour of plaintiffs against the defendants in the sum of N12,455,235.00 being the Naini equivalent of $566,250.00 (US Dollars) negligently transmitted overseas from the account of the plaintiff to a 3rd Party in Ireland without valid guarantee and or without effectively contesting the validity of the said guarantee with interest at the rate of 10% per annum on the judgment debt from date of judgment until payment. But the plaintiffs claim of N10,093,625.74 as accrued interest up to 19/5/94 was dismissed. Cost of the action was assessed at N1,000.00 in favour of plaintiff.

The claim of the plaintiff, as finally perfected under paragraph 19 of their 7th Amended Statement of claim was as follows:-

"Whereof the plaintiffs claim against the defenda…

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