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INTERDRILL NIGERIA LIMITED & ANOR v. UNITED BANK FOR AFRICA PLC

(2017) JELR 38256 (SC)

Supreme Court  •  SC.4/2007  •  10 Mar 2017  •  Nigeria

Coram
OLABODE RHODES-VIVOUR JSC; MUSA DATTIJO MUHAMMAD JSC; CLARA BATA OGUNBIYI JSC; CHIMA CENTUS NWEZE JSC; AMIRU SANUSI JSC;

Judgement

CHIMA CENTUS NWEZE, J.S.C. (Delivering the Leading Judgment): The United Bank for Africa Plc (as plaintiff) took out a suit under the Undefended List procedure against the appellants in this appeal (as defendants) at the High Court of Delta State in 2001. The said plaintiff (now, respondent herein) claimed against the defendants (appellants herein), jointly and severally:

1. The sum of N17,835,802.67 (seventeen million, eight hundred and thirty five thousand, eight hundred and two Naira, sixty seven Kobo) being the outstanding debit balance in the first defendant's account with the plaintiff as at 2nd February, 2001 which sum is due the plaintiff from an overdraft facility granted to the first defendant at the first defendant's request and guaranteed by the second defendant, which sum the defendants have failed, neglected, omitted and/or refused to pay inspite of repeated demand.

2. 31% per annum on the said sum of N17,835,802.67 (seventeen million, eight hundred and thirty five thousan…

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