Appellant (a banker) sued respondent (a customer) claiming N29, 574.89 being overdraft advanced to respondent in 1981 as well as accrued interest.

Respondent denied the sum involved was an overdraft but that it was a loan of N10, 000.00 in 1981 at interest rate of 10%. It also argued that the action was statute barred since it was instituted seven years after demand for repayment was made.

Trial Judge dismissed the appellants claim on grounds that it was statute barred. Appellant appealed.