OLUFUNLOLA OYELOLA ADEKEYE, J.C.A. (Delivering the Leading Judgment): This appeal is against the ruling of the High Court of Justice Oyo State Ibadan Judicial Division delivered on the 16th of November, 1999.
The facts of the case at the court below are that the 4th and 5th respondents in this appeal commenced this action as plaintiffs against the Ist-3rd respondents as Ist-3rd defendants and the appellant as 4th defendant in the Ibadan Judicial Division of the High Court of Justice Oyo State on the 31st of March, 1998.
In the writ of summons and statement of claim filed on the 6th of April 1998 - the plaintiffs claimed against the defendants as follows:-
(1) The sum of N20,635,323.69k (Twenty million, six hundred and thirty five thousand, Three hundred and twenty three Naira sixty nine kobo) being the balance as at 6/4/98 of the amount of N17,586,000 (Seventeen million, five hundred and eighty-six Naira) plus interest bank charges etc. on the principal amount borrowed by the 1st def…