“Therefore, the receipt of money from or an account of his customer by a banker constitutes the latter the debtor of the former (Foley Vs. Hill (1848) 2 H.L. Cas. 28) ; and the banker undertakes to pay any part of the money thus due from him to the customer against the written orders of the customer (Joachimson Vs. Swiss Bank Corporation (Supra). Accordingly, the relation so constituted is that of principal and agent and, therefore, a cheque drawn on the banker by the customer represents the order of the principal to his agent to pay, out of the principal’s money in his hands, the amount stated on the cheque to the payee endorsed on the cheque. Therefore, it has long been established that refusal by a banker to pay a customer’s cheque when he holds in hand an amount, equivalent to that endorsed on the cheque, belonging to the customer amounts to a breach of contract for which the banker is liable in damages. Per IDIGBE, J.S.C. in HIRAT ADERISOLA BALOGUN V. NATIONAL BANK NIG LTD (1978-LCER-1729-SC) at P. 6, Para. C.