CONSTRUCTION ROAD TO HOUSE LIMITED & ANOR V. UNITY BANK PLC

OLUDOTUN ADEBOLA ADEFOPE-OKOJIE, JCA (Delivering the Leading Judgment): The Respondent, as Plaintiff, commenced this suit before the Lower Court, seeking against the Appellants, Defendants therein, by its Writ of Summons and Statement of Claim, dated 14th October 2013, the following reliefs:

(a) The sum of ₦134,455,491.96 (One hundred and thirty- four million, four hundred and fifty five thousand, four hundred and ninety one Naira, ninety six kobo) being the outstanding debit balance in the current account of the 1st Defendant with the Plaintiff arising from the advance loan and overdraft facilities granted to the 1st Defendant and guaranteed by the 2nd Defendant with the accruing interest and other bank charges as at 22/8/2013.

(b) Compound interest of 28% per annum from 22/8/2013 to the date of judgment and thereafter interest to accrue at the rate of 10% until final liquidation of the judgment debt.

(c) Cost of this action

Filed along with the processes was a Motion for Summary Judgmen…