Facts:

The respondent company, Eagle Aluminium Industries Limited (the plaintiff at the trial) entered into a loan agreement with the appellant, Fidelity Bank Plc (the defendant) to the effect that the appellant will avail the respondent a credit facility of the sum of N70 million, to complete its factory in Port-Harcourt and Onitsha, and the furnishing of its perennial apartments in Abuja. The conditions were contained in the appellant’s offer letter dated 27th May, 2004, which was subsequently embodied in a written contract

One of the conditions precedent to the draw down of the loan facility was that the respondent company would make a deposit of N240 million with the appellant bank. By their letter dated 31st May, 2004, the respondent company accepted the offer and made the deposit of N240 million on the same day. The terms and conditions precedent to drawn