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AFROCATS NIGERIA COMPANY LIMITED & ANOR v. SKYE BANK PLC & ANOR

(2017) JELR 37360 (CA)

Court of Appeal  •  CA/B/190/2010  •  8 Dec 2017  •  Nigeria

Coram
JIMI OLUKAYODE BADA JCA; PHILOMENA MBUA EKPE JCA; SAMUEL CHUKWUDUMEBI OSEJI JCA;

Judgement

PHILOMENA MBUA EKPE, J.C.A. (Delivering the Leading Judgment): This appeal is against the judgment of the Federal High Court, Lagos Division delivered on the 25th day of April, 2007, wherein His lordship entered judgment in favour of the Respondents who were Plaintiffs in that Court.

It is imperative to note that this matter was filed at the Federal High Court, Benin City and Hon. Justice I.N. Auta commenced hearing of the matter before he was transferred to the Lagos Division. His Lordship had to conclude the matter at the Lagos Division upon a Fiat issued to that effect.

SUMMARY OF RELEVANT FACTS

The facts giving rise to this appeal as gleaned from the record of appeal are as follows: by a Deed of Debenture dated 10th day of December, 1996 the 1st Respondent then known as Afri Bank Plc extended a loan facility to the 1st Appellant to the tune of Sixty Million Naira. The 2nd Appellant was surety to the loan. While the 1st Respondent contends that the entire amount was drawn down, the 1s…

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