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FIRST CITY MONUMENT BANK PLC v. ROPHINE NIGERIA LIMTED & ANOR

(2017) JELR 37783 (CA)

Court of Appeal  •  CA/L/976/2014  •  3 May 2017  •  Nigeria

Coram
MOHAMMED LAWAL GARBA JCA; YARGATA BYENCHIT NIMPAR JCA; JAMILU YAMMAMA TUKUR JCA;

Judgement

YARGATA BYENCHIT NIMPAR, J.C.A. (Delivering the Leading Judgment): This appeal is against the judgment of the Lagos State High Court delivered on the 15th May, 2014 by HON. JUSTICE M. O. OBADINA wherein the claim of the Appellant was dismissed with cost. Dissatisfied with the decision, the Appellant filed a Notice of Appeal on the 8th of August 2014 setting out three (3) grounds of Appeal.

The Appellant filed a writ of summons and an amended statement of claim dated 19th October, 2010 claiming the following:

1. Payment by the 1st defendant of the sum of ₦31,422,756.50 (Thirty One Million, Four Hundred and Twenty-Two Thousand, Seven Hundred and Eighty-Six plus accrued interest on the import finance credit facility granted the 1st defendant by (Legacy Inland bank Nigeria Plc) now First City Monument Bank Plc, the claimant, as at 25th day of April, 2008, with interest accruing thereon at the rate of 21% per annum, until judgment and thereafter at 10% per annum until total liquidation.

And i…

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