Defamation has been judicially, defined to embrace imputations which tend to lower a person’s dignity in the estimation of the right thinking members of the society and expose him, the person so disparaged, to hatred opprobrium odium, contempt or ridicule, see Oruwari v. Osler (2013) 5 NWLR (Pt. 1348) 535. The action is specifically anchored on injurious/malicious falsehood which signifies. “A false and injurious statement that discredits or detracts from the reputation of another’s character, property, product or business” It denotes “The common-law tort of belittling someone’s business, goods or services with remarks that are false or misleading: but not necessarily defamatory” see – Bryan A- Garner et al (eds.) Black’s Law Dictionary, 10th edition (West Publishing Co., US.A., 2014) pages 570 and 1721 respectfully. It bears the other names: – trade libel, slander of goods/title. It is an economic tort that attacks proprietary interest of citizens.
— O.F. Ogbuinya JCA. Stanbic IBTC Bank Plc v. Longterm Global Cap. Ltd. & Ors. (September 20 2021, ca/l/1093/2017)