RITA NOSAKHARE PEMU, J.C.A. (Delivering the Leading Judgment): This is an interlocutory appeal against the Ruling of O. A. Ipaye J (Mrs.) in Suit No.LD/45/95 delivered on the 19th of January 2006.
The learned trial Judge, after hearing the application for stay of further proceedings filed on the 31st of March 2005 dismissed same.
The Appellant was the 1st Defendant in the lower Court in Suit No LD/45/05, while the Respondent was the Claimant. The Appellant had by Motion on Notice filed on the 31st of March 2005 prayed the Court below for an order, staying further proceedings in the suit, pending reference to, and determination of the dispute between the Claimant and the Defendant by Arbitration, in accordance with the arbitration agreement between the parties.
At the Court below, the Respondent had claimed against the Appellant the following:
(a) "The sum of N28,662,750.00 being outstanding balance of the contract sum at N4,800,000 monthly from Dec. 29, 2004 - 31st Oct. 2004, N1…