judy.legal
Login Register

JOSADEG NIGERIA LIMITED & ANOR. V. NIGERIA DEPOSIT INSURANCE CORPORATION

(2004) JELR 44996 (CA)

Court of Appeal  •  CA/I/106/96  •  13 Dec 2004  •  Nigeria

Coram
RAPHAEL OLUFEMI ROWLAND JCA; OKWUCHUKWU OPENE JCA; SAKA ADEYEMI IBIYEYE JCA;

Judgement

ROWLAND, J.C.A. (Delivering the Leading Judgment): In the High Court of Oyo State, the plaintiff, who is now the respondent filed an action against the appellants who therein were the defendants, claiming jointly and severally as follows:

"(a) The sum of N315,560.42 being balance due and payable by the defendants to the plaintiff on account of loan and overdraft facilities granted by the plaintiff to the defendants jointly and severally at their request as well as interests, commission and or other charges on the said facilities as at 31st August, 1992.

(b) Interest on the above stated sum at the rate ruling in the financial market from the 1stday of September, 1992 until judgment is delivered thereof and, thereafter, interest at the rate of 10% until the whole debt is liquidated."

Pleadings were ordered and were duly settled, filed and exchanged.

The case then proceeded to trial and the parties called one witness each. At the close of the case, the counsel to the parties addressed …

There's more. Sign in to continue reading

judy.legal is the comprehensive database of case law and legislation from Ghana, Kenya and Nigeria. Gain seamless access to over 20,000 cases, recent judgments, statutes, and rules of court.


Get started   Login