In Ishola v. Societe Generale Bank Ltd. (1997) 2 NWLR (Pt. 488) 405, the apex Court held: it cannot be over emphasized that a company being a legal person or a juristic person can only act through its agents or servants and any agent or servant of a company can therefore give evidence to establish any transaction entered into by that company. Where the official giving the evidence is not the one, who actually took part in the transaction on, behalf of the company, such evidence is nonetheless relevant and admissible and will not be discountenanced or rejected as hearsay evidence. The fact that such official did not personally participate in the transaction on which he has given evidence may in appropriate cases, however, affect the weight to be attached to such evidence, Kate Enterprises Ltd. v. Daewoo (Nig.) Ltd. [1985] 2 NWLR (Pt. 5) 116; Anyaebosi v. R. T. Briscoe (Nig) Ltd. [1987] 3 NWLR (Pt. 59) 84; Chief Igbodim and Ors. V. Chief Ugbede Obianke (1976) 9-10 SC 178, 187 etc.
REASONS FOR REJECTION OF HEARSAY EVIDENCE
From all the authorities, the salient reasons which appear for the rejection of hearsay evidence include the following: a) That the maker or originator of the statement was not under oath when he made it. b) That there is no opportunity for the cross examination of the maker; c) The likelihood of depreciation of the truth or accuracy of the facts in the process of repetition by the witness reporting it. d) The Court would not have the opportunity to observe the demeanour of the maker as a witness since it is not a direct evidence from him.
– M.L. Garba JCA. Odogwu v. Vivian (2009) – CA/PH/345/05