Facts:

The respondent is a customer of the 1st appellant bank. On 6th May, 1982 the 1st appellant granted loan to the respondent to the tune of N200,000.00 (two hundred thousand naira) and an additional facility of N100,000.00(one hundred thousand naira) in 1985 making it a total of N300,000.00 (three hundred thousand naira).

The respondent who was the plaintiff at the lower court stated that the 1st loan attracted 7.5% interest while the one of 1985 attracted 14% interest rate and that for the two facilities; he placed two of his properties, one at Orita Challenge, Ibadan and the other at Ipee road, Offa as security for the loans. He said he had liquidated the first loan leaving the N100,000.00 (one hundred thousand naira) as outstanding. He claimed further that it was the interest on the N100,000.00 (one hundred thousand naira) that had escalated to N3,233,691.33 (three million, two hundred and thirty-three thousand, six hundred and ninety one naira, thirty three kobo). He denied owing the appellant such an amount