MEAK INVESTMENT LTD & ANOR v. KEYSTONE BANK PLC (2024) LPELR-61895(CA)
“It is trite law that a bank is entitled to charge interest on any loan until the credit facility granted the customer is liquidated. See Asikpo v. Access Bank PLC (2015) LPELR-25845; UBN Ltd. v. Salami (1998) 3 NWLR (PT 543), (1998) LPELR-6189 (CA) and UBN PLC v. Ajabule & Anor (2011) LPELR-8239(SC). Even where there is no express agreement as to rate of interest, the bank is still entitled to charge reasonable interest on the basis of established custom that a bank is a profit-making commercial venture and not a
charitable organization. See Barclays Bank of Nigeria Ltd v. Alhaji Maiwada Abubakar (1977)10 SC.13. Agbabiaka v. First Bank (2019) LPELR-48125(SC).”
