Facts:

The respondent’s case before the trial court was that the appellant trading under the name and style of “Alhaji Lucky Star Bakery” and being the sole proprietor of that registered business name, took an overdraft facility from the bank which he personally guaranteed and in addition, the facility was secured by a legal mortgage against the property of the appellant. The respondent claimed that the appellant failed to re-pay the overdraft facility and the agreed accrued interest on same at 18% per annum within the period agreed by the parties. At the expiration facility, the total outstanding balance with accrued interest stood at ₦21,491,757.48 against the appellant.

On his part, the appellant did not deny taking the overdraft facilities from the bank but disputed the total amount that was claimed by the respondent as outstanding balance due. He asserted that as at the expiration of the renewed overdraft facility, his indebtedness was about five million naira, but due to overcharging of interest, other indiscriminate charges and abnormal inputs into the account of the appellant, the respondent unilaterally raised the debt profile to the sum of over ₦21 Million it claimed against him in this suit. He further contended that it was as a result of the charges of double interest and other unconventional charges made by the respondent to his account that caused the appellant’s company to be unable to totally liquidate its indebtedness, which he insisted was less than ₦5 million.

The appellant also counterclaimed against the respondent for breach of the agreement contained in the letter of offer of overdraft, when they commenced a suit against him at the High Court even before the expiration of the period of payment for the facilities. He claimed both general damages of ₦5million for breach of contract and cost of defending that suit against the respondent.

At the end of the trial, the learned trial Judge delivered the court’s judgment in favour of the respondent against the appellant.

Aggrieved by the decision of the trial court, the appellant appealed to the Court of Appeal.