Facts:

The appellant was the defendant/counter-claimant while the respondent was the claimant/defendant at the court below.

The respondent, a customer of the appellant brought am action against the bank claiming certain reliefs. The appellant in response filed its defence and counter-claim wherein it sought to recover debt owed as a result of the discovery it made upon conducting a reconstruction and reconciliation of respondent’s account. The appellant discovered that fraud was committed against it in connivance with some of its officials using the respondent’s account.

The matter proceeded to trial and the court dismissed the appellant’s counter-claim on the ground that it was statute barred as it had exceeded the six years limit provided by the Limitation Law of Lagos State for a debt recovery action.

Dissatisfied with the decision of the court below, the appellant appealed to the Court of Appeal.