Facts:

The respondent who was the plaintiff in the trial court is a German national while the appellant is a Nigerian company carrying on banking business. The respondent entered into a business relationship with one Francis Philips whereby the latter promised to secure for the respondent a contract worth $55 million for the construction of the Central Bank of Nigeria between 1992/94. The respondent claimed that she was induced to pay a total sum of $500,000 to the said Francis Philips in furtherance of the contract. Thereafter, the respondent heard nothing else from the said Francis Philips. To her greatest chagrin and shock she later realized that she had been made to part with the money under false pretences. As it turned out, the money was paid into a joint account of Anthony Jiwueze and Francis Philips in the appellant’s bank. The respondent averred that the appellant was negligent in opening an account for Mr. Philips and Jiwueze without keeping to or observing the laid down standard procedures in the opening and operation of an account. The respondent as plaintiff instituted an action in the Lagos High Court against the appellant’s bank for negligence.

The appellant raised a preliminary objection on the ground that the State High Court has no jurisdiction to hear and determine the suit,