Facts:

The claimant sued the defendant at the High Court of Lagos State for breach of
contract. The suit of the claimant was predicated on a tripartite agreement between
the parties and Dangote Industries Limited in which the defendant was to guarantee
and make payments on behalf of the claimant to Dangote Industries Limited for
cement supplied to the claimant. The claimant alleged that the defendant was in
breach of the contract when it failed to honour two separate post-dated cheques
issued by the claimant on behalf of the supplier, Dangote Industries Limited. The
claimant further alleged that the act of dishonoring the cheques in violation of the
agreement between the parties led to the claimant being blacklisted and removed
from being a customer by Dangote Industries Limited resulting into huge financial
loss to the claimant. The claimant therefore, sued for among several reliefs, the
sum of N100,000,000.00 (One Hundred Million Naira) as damages flowing from
the alleged breach.
After the process was served on the defendant, it filed its statement of defence
and incorporated a counter-claim. The defendant in its defence denied the allegations
of the claimant and contended in its counter-claim that the claimant did not fulfil
certain terms and conditions which were attached to the credit facility and as
such did not meet up with the terms of the bank guarantee. The defendant also
contended that the claimant was indebted to it in the sum of N15,468,913.24
(Fifteen Million, Four Hundred and Sixty-Eight Thousand, Nine Hundred and Thirteen
Naira Twenty-Four Kobo) being credit facility advanced to the claimant which was
yet to be repaid. The defendant also counter-claimed for the accrued interest on
the said facility.
The issues for determination in the suit are whether the claimant proved its case
to be entitled to judgment and whether the claimant repaid its outstanding
indebtedness as claimed in the counter-claim.