WEMA BANK PLC
V.
L. I. T. (NIG.) LTD

SAULAWA JCA (Delivering the Lead Judgment): This is an appeal against the judgment of the Federal High Court, Lagos Judicial Division, A which was delivered on 19 December 2001 by the Hon. Justice R. N. Ukeje, CJ, in suit No. FHC/L/CS/1011/95. The judgment was entered in favour of the plaintiff, now respondent, against the defendant (National Bank of Nigeria Plc). It is evident from the record of appeal that on 1 September 1995, the respondent had caused a writ of summons to be instituted in the lower court against the Central Bank of Nigeria and National Bank of Nigeria Plc, praying for the following reliefs: “1. A declaration that the defendants are in breach of contract having failed to remit the sum of Sf 33,150.00 (thirty-three thousand one hundred and fifty Swiss Francs) to Gisiger - Greder Ltd of Selzach Switzerland being proceeds from 2,500 sets of CKD watch components parts despite approval and allocation of foreign exchange by the 1st defendant and payment of same in local…