OKOMFO ANOKYE RURAL BANK LIMITED vs. MEDINA ZEBA BUKARI

This is an action for recovery of the balance outstanding on a credit facility extended to the Defendant by the Plaintiff Bank. Specifically, the amount endorsed on the writ of summons is GH¢17,456.94. In addition, the Plaintiff is claiming interest that has accrued on this debit balance from 19th April, 2012 to the date of final payment. The Plaintiff’s case as captured in its statement of claim is straightforward. On or about March 2011, an amount of GH¢15,000.00 was advanced to the Defendant as an overdraft at an interest rate of 32% per annum. This amount was to be repaid on or before 20th May, 2012 but the Defendant defaulted, such that as of 19th April, 2012, her indebtedness stood at GHC 17,456.17 and this amount continues to attract interest. By way of defence, the Defendant conceded that the said overdraft facility was advanced to her. However, she denied the quantum of the debit balance and pleaded that her failure to pay is as a result of the down turn of her busi...