Facts:

The appellant as plaintiff had filed a suit against the respondent wherein he claimed the sum of N3,121,446.00 (Three Million, One Hundred and Twenty One Thousand, Four Hundred and Forty Six Naira Only) being the total sum of money of the “Crossed Cheques” cleared negligently and fraudulently received and cleared by the Respondent into the fake account; “interest at rate of 26% per annum from the 27th of March, 1990 till the judgment is given and the same rate from the date of judgment until the whole debt is finally liquidated by the Defendant.” The trial Court gave judgment in favour of the Appellant.

Consequently, the Respondent appealed to the lower court (Court of Appeal) wherein the court took a U-turn and reduced the interest rate from 26% per annum to 4% per annum despite been on the same page with the trial court on other parts of its judgement.

Dissatisfied with the decision of the lower court the appellant appealed to the Supreme Court contending inter alia whether the appellant was right in claiming a prejudgment interest at 25% per annum and the same rate after judgment until final liquidation.