Facts:

Mr. Adelekan (‘the appellant’) entered into a contract with a shipping line ECU Line NV (‘the respondent’) for the carriage by sea of photo processing machines. One voyage was from Canada to Nigeria the other was from Belgium to Nigeria. The goods were put on board the “M.V. KAGORO”. There was a discrepancy on the bill of lading that revealed that the goods were improperly described. When the MV KAGARO arrived Nigeria one of the machines was missing.

In admission of liability the respondent offered monetary compensation. The appellant felt the compensation was inadequate, rejected it and demanded the sum of US $98,520.00 as compensation for the loss. The respondent replied on 19th October, 1998 by informing the appellant that the claim was statute barred. The appellant instituted an action in the Federal High Court, Ibadan claiming N14,925,639.00 being the money payable by the respondent to the appellant for breach of contract of carriage of goods by sea and negligent loss of goods