This appeal revolves around Bank/customer relationship that went sour. The Appellant company was the customer and the Respondent the bank. The dispute arose following a loan granted to the Appellant to enable it import for resale in Nigeria a quantity of stockfish. The loan was to be repaid on 30/12/89. The Appellant did not pay on due date. Rather the Appellant claimed that the Respondent negligently handled the shipment process. It then brought a suit at the Aba High Court of Abia State on 1st November, 1991 claiming against the Respondent as Defendant the following:

The Plaintiff filed a Statement of Claim and in reaction the Defendant filed an amended Statement of Defence to which was sub-joined a counter-'claim which reads:

The suit was heard by Ogbuagu J. (as he then was). The Plaintiff called three witnesses and the Defendant two. In a judgment spanning 92 foolscap pages, the trial Judge on 8-7-97 dismissed the Plaintiff's suit. He granted the first head of the counter-claim followed by an order that the Plaintiff liquidate the judgment debt within twelve months with effect from 1 -9-97. This claim for interest was refused.

The Plaintiff was dissatisfied and brought an appeal before the Port-Harcourt Division of the Court of Appeal (i.e. 'the Court below’). On 21-6-2001, the Court below in a unanimous Judgment, dismissed Plaintiff's appeal. The Plaintiff has come before this Court on a final appeal.