Between
Chief Festus Sunmola Yesufu ……. Appellant
And
African Continental Bank Ltd ……. Respondent
…………………….A…………………….
Judgement of the Court Delivered by Kayode Eso.
We dismissed this appeal on 26th November, 1979 and reserved our reasons. My Lords, I now give my reasons for agreeing that the appeal be dismissed.
In the Court of trial. the plaintiffs (the African Continental Bank) who are now the Respondents in this Court. and who would hereinafter be referred to as the Respondents in this judgment, took out a writ of summons against the Defendant. Chief Festus Sunmola Yesufu, who is the Appellant in this court, and would hereinafter be referred to as the Appellant for the sum of N1,128,057.40 (One Million, One Hundred and Twenty-Eight Thousand, Fifty-Seven Naira, Forty Kobo) being money granted to the Defendant at his request. by way of overdraft accommodation and/or facilities from the plaintiff who are Bankers. As at 30th April 1976, the defendant was granted the total sum of N1,128,057.40, aforesaid, as overdraft drawn on his current account No.2285 with the plaintiff at Benin City within the Benin Judicial Division. The said sum of N1,128.057.40 which included the principal, interest and other bank charges calculated up to and inclusive of 30th April, 1976, has since become due and payable by the defendant to the plaintiff, but in spite of repeated demands made by the plaintiffs, the defendants neglects and/or refuses to pay.”
There were also a claim for interest at the rate of 9%, a declaratory claim and a claim for specific performance to wit
(a) A declaration that the plaintiff is entitled in terms of the deed of mortgage registered as No. 29 at Page 29 in Volume 10 of the Lands Registry in the Office at Benin City, to exercise the power of sale over the defendant’s landed property situate and lying at No 48 Lawani Street, Benin City, the title deed of which was of the Lands Registry in the Office at Benin City.
