MEAK INVESTMENT LTD & ANOR v. KEYSTONE BANK PLC
(2024) LPELR-61895(CA).
“In the instant appeal, the Appellants have predicated their allegation of negligence against the Respondent on their assertion that the Respondent failed to honour and execute their instruction that the share certificates which they deposited with the Respondent to secure an overdraft facility, should be sold to liquidate the overdraft facility. However, as succinctly shown in the leading judgment of my learned brother PETER CHUDI OBIORAH, JCA, the 2nd Appellant was during cross examination, confronted with a
letter which he admitted writing to the Respondent wherein he countermanded the earlier instruction he gave to the Respondent, this time requesting the Respondent to roll over the overdraft facility, using the same share certificates as collateral. This, is a clear admission against interest on the part of the Appellants which the Respondent is entitled to rely on to defeat the Appellants’ case. See ABALAKA v AKINSETE & ORS (2023) LPELR.60349(SC) at 25 – 27. paras. F – B: and KAMALU & ORS v UMUNNA & ORS (1997) LPELR-
1657(SC) at 27. paras. C- F.”