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NIGER ALUMINIUM MANUFACTURING COMPANY LIMITED & ANOR v. UNION BANK OF NIGERIA PLC

(2015) JELR 33564 (CA)

Court of Appeal  •  CA/K/155/2006  •  30 Apr 2015  •  Nigeria

Coram
HABEEB ADEWALE OLUMUYIWA ABIRU JCA; OLUDOTUN ADEBOLA ADEFOPE-OKOJIE JCA; AMINA AUDI WAMBAI JCA;

Judgement

AMINA AUDI WAMBAI, J.C.A. (Delivering the Leading Judgment):

This appeal is against the decision of Kaduna State High Court in suit No. KDH/KAD/84/2005 delivered by Hon. Justice A. D. Yahaya on the 16th day of October, 2005 wherein Judgment was entered in favour of the Appellants against the Respondent.

By it's writ of summons under the undefended list, the Respondent as Plaintiff before the Lower Court claimed against the Appellants as Defendants jointly and severally as follows:

"(1) The sum of Forty-Eight Million, Forty-Two Thousand, Six Hundred and Nine Naira, Thirty-Five Kobo N48,042,609.35) being the outstanding and unpaid balance as at 31st of January, 2005 in respect of overdraft facilities granted by the Plaintiff to the 1st Defendant and guaranteed by the 2nd Defendant.

(2) Interest on the said outstanding sum of N48,042,609.35 claimed at the rate of 27% Per annum from the 1st of February 2005 till the date of Judgment and thereafter at 10% per annum until the Judgment debt is …

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