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FIRST BANK OF NIGERIA PLC v. MRS. ADEOLA DAVIES

(2017) JELR 37333 (CA)

Court of Appeal  •  CA/L/04/2009  •  5 Jul 2017  •  Nigeria

Coram
JUMMAI HANNATU SANKEY JCA; ONYEKACHI AJA OTISI JCA; JOSEPH EYO EKANEM JCA;

Judgement

ONYEKACHI AJA OTISI, J.C.A. (Delivering the Leading Judgment): This is an appeal against the decision of the High Court of Lagos State in Suit No: LD/2364/2005 presided over by Adebiyi, J., delivered on April 28th 2008 in which the lower Court entered judgment in favour of the Respondent against the Appellant.

The Respondent, as claimant had initiated the action leading to this appeal against the Appellant as 1st defendant and one other. In brief, the facts leading to the appeal are as follows: Sometimes in 2002, the Respondent's son, one Dr. Fatai Animashaun approached the Appellant for a loan facility in the sum of N10 million on account of which the Respondent deposited the title deeds to his landed property at Aisa Animashaun Crescent with the Appellant. The Respondent's son subsequently took a further loan of N3 million from the Appellant. He defaulted in his repayment obligations such that by 2005, the principal sum together with interest had risen to N47,241,099.42. Upon demand …

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