MANUFACTURERS MERCHANT BANK LTD. V. JOHN EDGE AND COMPANY (NIG.) LTD.

AYOOLA, J.C.A. (Delivering the Leading Judgment): The background facts relevant to the application with which this ruling is concerned can be shortly stated. Manufacturers Merchant Bank Ltd. (now referred to as "the applicant") sued John Edge and Co. (Nig.) Ltd. (now referred to as "the respondent") in the High Court of Lagos State claiming a sum of N3,277,466.85 being balance alleged to be outstanding on credit facilities it granted to the respondent. On June 5, 1995 the applicant obtained a default judgment against the respondent in the sum of N3,794,089.88 inclusive, it would appear, of interest. That sum was paid by the respondent to the applicant on execution being levied at the instance of the applicant. On an application by the respondent, Sotuminu, J. on 21stIune 1996 set aside the default judgment and the execution of the said judgment and ordered that the "sum of N3,794,089.88 which the plaintiff/respondent collected from the defendant/applicant in execution of the said judg…