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B.M. NEXUS VENTURES LIMITED & ANOR v. UNITED BANK FOR AFRICA PLC

(2017) JELR 37587 (CA)

Court of Appeal  •  CA/J/95/2012  •  17 Mar 2017  •  Nigeria

Coram
ADAMU JAURO JCA; UCHECHUKWU ONYEMENAM JCA; HABEEB ADEWALE OLUMUYIWA ABIRU JCA;

Judgement

ADAMU JAURO, J.C.A. (Delivering the Leading Judgment): The appeal herein is against the ruling of the Borno State High Court of Justice setting aside a judgment delivered in Suit No. BOHC/MG/CV/12/CT.07/2010 under the Undefended List. The ruling was delivered on the 23rd February, 2011 pursuant to a motion on notice No. BOHC/CV/12M/2010 by Hon. Justice U.B. Bwata.

The facts culminating in the instant case can be summarized as follows. The respondent as plaintiff instituted an action on the 20th January, 2010 against the appellants as defendants jointly and severally claiming for the following reliefs:

"1. The sum of N39,108,936.55 being outstanding balance of money owed as at the 31st December, 2009 by the Defendants to the Plaintiff as principal and interest on a loan granted by the plaintiff to the 1st Defendant and guaranteed by the 2nd Defendant.

2. 19% interest on the sum of N39,108,936.55 from 31st December, 2009 until judgment herein.

3. 10% interest on the judgment sum until final…

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