judy.legal
Login Register

BELIEVERS FISHERIES DREDGING & ANOR v. U.T.B. TRUSTEES LIMITED

(2010) JELR 47761 (CA)

Court of Appeal  •  CA/L/301/2000  •  14 Jan 2010  •  Nigeria

Coram
BODE RHODES-VIVOUR JCA; PAUL ADAMU GALINJE JCA; HUSSEIN MUKHTAR JCA;

Judgement

BODE RHODES-VIVOUR, J.C.A. (Delivering the Leading Judgment): The appellants as plaintiffs sued the respondent as defendant on a Writ of Summons and Statement of Claim for:-

1. A Declaration that the loan agreement for N2.5m between the 1st plaintiff and the defendant is null and void, illegal and/or unenforceable in that the defendant is neither a Licensed Bank nor a Licensed Financial Institution and thereby committed criminal offences under the Central Bank of Nigeria Decree and the Banking and other Financial Institutions Decree 1991.

2. A Declaration that the aftersaid contract being money lending transaction is null and void, illegal and or unenforceable in that the defendant is not a Licensed money lender and thereby committed criminal offences and cannot take securities for the said loan under the money lenders Laws of Lagos State.

3. A Declaration that the Deed of Mortgage dated 20th February, 1997 and registered as No: 81/81/91, 2nd plaintiff as Guarantor in furtherance of t…

There's more. Sign in to continue reading

judy.legal is the comprehensive database of case law and legislation from Ghana, Kenya and Nigeria. Gain seamless access to over 20,000 cases, recent judgments, statutes, and rules of court.


Get started   Login