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MUSTADRACK CONTRACTS LIMITED & ORS v. WEMA SECURITIES & FINANCE PLC

(2018) JELR 38405 (CA)

Court of Appeal  •  CA/A/576/2016  •  4 Jun 2018  •  Nigeria

Coram
ABDU ABOKI JCA; PETER OLABISI IGE JCA; MOHAMMED MUSTAPHA JCA;

Judgement

PETER OLABISI IGE, J.C.A. (Delivering the Leading Judgment): This Appeal is against the Judgment of the High Court of the Federal Capital Territory, Abuja delivered by Honourable Justice S. C. ORIJI on the 31st day of May, 2016, whereby judgment was entered in favour of Plaintiff against the Defendants jointly and severally for the sum of N36,011,587.61 with interest rate of 7% per annum from 1/6/16 until the judgment sum is paid.

The Appellants as Defendants were sued at the said Court vide the Amended Statement of Claim. They filed at the said Court claiming against the Respondents jointly and severally the following reliefs:-

"(a) The sum of N36,011,587.61 only being the outstanding balance of the credit facilities granted to the 1st Defendant.

(b) The interest on the entire sum at the rate of 10% until judgment is given and thereafter at the rate of 7% until the entire sum is liquidated.

(c) The Cost of this suit in the sum of N2,000,000 only."

Pleadings were duly exchanged and the mat…

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