OPENE, JCA (Delivering the Lead Judgment): This matter arose from the banker and customer relationship between the appellant, the bank and its customer, the respondent. In 1989, the respondent applied for and was granted an overdraft of the sum of N10,000.00. As a result of this, a deed of legal mortgage was executed over the respondent’s building situate off Agiga Road, Ogoja and the certificate of occupancy in respect of the said property was deposited with the appellant. After the respondent had fully paid the mortgage debt, the respondent on 5th July, 1996, applied for another overdraft of the sum of N200,000.00 to trade on cocoa for 1997 cocoa season but the application was refused.
The respondent then applied to the First Bank of Nigeria Plc. who was ready to grant the money and the respondent then wrote and requested the appellant to release the certificate of occupancy and also execute a deed of release of same. The appellant returned the certificate of occupancy but did not …