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INNOCENT AUGUSTINE MKPEDEM & ORS v. UNITED BANK FOR AFRICA PLC & ANOR

(2016) JELR 42289 (CA)

Court of Appeal  •  CA/C/363/2014  •  19 Dec 2016  •  Nigeria

Coram
IBRAHIM MOHAMMED MUSA SAULAWA JCA; CHIOMA EGONDU NWOSU-IHEME JCA; JOSEPH OLUBUNMI KAYODE OYEWOLE JCA;

Judgement

JOSEPH OLUBUNMI KAYODE OYEWOLE, J.C.A.(Delivering the Leading Judgment): This is an appeal against the judgment of the High Court of Cross River State, Calabar Judicial Division delivered on the 30th day of May, 2014 by Ofem J.

The Appellants and the 2nd Respondent were partners in a business venture called Racing Ventures registered as a business name with the Corporate Affairs Commission. Without the knowledge or consent of the other partners operating the said business name, the 2nd Respondent who was saddled with the running of the day to day operations, opened a bank account with the 1st Respondent through which he allegedly diverted the sum of N1,911,000.00 being the proceeds of haulage transactions done by the partnership with the United Cement Company of Nigeria Ltd, Calabar, Cross River State. Whereupon the Appellants took out a writ of summons against the Respondents seeking the following reliefs against only the 1st Respondent:

The Claimants claim against the 1st Defendant Sp…

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