Facts:

The appellant (First Bank) received a letter of instruction from a correspondent bank, Hong Kong and Shangai Banking Corporation of 245 Lai Chi Ko Road, Shamshuipo Kowloon, Hong Kong, with an attached Bill of Exchange, requesting for collection of the value disclosed on the said Bill of Exchange. The sum of N128,198.28k was accordingly paid by the appellant and upon such payment, the Appellant, in conformity with the letter of instruction and international trading custom, became obligated to transfer the money through the correspondent bank. The respondent was to deliver to the appellant, customs Bill of entry, Tally Sheet, Customs and Exercise Payment Schedule, Tax Clearance Certificate and Form M in order to facilitate the transfer of the funds which the respondent failed to do on the basis that the suppliers sent down the wrong description of goods to wit: Ladies wears which were seized by the Nigerian Customs and auctioned.

The respondent sued the appellant in the lower court for the refund of $186,990.00 being money deposited by the respondent with the appellant for remittance to Good fit Trading Company Limited