CENTRAL BANK OF NIGERIA V. MAIYINI CENTURY COMPANY LTD & ANOR

OYEBISI FOLAYEMI OMOLEYE, J.C.A. (Delivering the Leading Judgment): This is an appeal against the decision of the High Court of Adamawa State sitting at Yola Judicial Division (hereinafter called the trial Court), delivered on 4th May, 2016 in Suit No. ADSY/48M/2015.

The surmised background facts which culminated into the appeal are that, at the trial Court, the 1st Respondent herein as plaintiff sometime in May, 2000, took a Writ of Summons under the Undefended Procedure against the 2nd Respondent herein as defendant and claimed against the 2nd Respondent as follows:-

(a) The sum of N504,400.00 being the principal sum of N155,200.00 and interests at the rate of 25%, in that on the 17th day of November, 1997, the Plaintiff supplied the Defendant through its B Defendant, (Mounted) with 192 bags of grain (Wheat and Guinea Corn), 12 buckets and 12 head pans at the total costs of N202,200.00 as requested by the Defendant through various local purchase orders on the condition that payment of…