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MOHAMMED LAWAL GARBA, J.C.A. (Delivering the Leading Judgment): The Appellant; as a customer to Fin Bank, Plc (the Bank) was granted a loan for the purchase of some shares of ETI and Dangote Sugar and to be traded at the Stock Exchange by the Bank towards the payment of the loan. Subsequently, the Respondent took over the loan from the Bank as a non-performing loan in the Appellant’s account and by a Letter of 3rd of July, 2014 to the Appellant, demanded the immediate payment of Three Hundred and Seven-Eight Million, Six Thousand, One Hundred and Twenty-Two Naira and Thirty-Five Kobo (₦378, 006,122.35) as the outstanding debt owed by the Appellant on the loan as at 31st of July, 2014.
​In reaction, the Appellant’s counsel vide the letter dated 27th of August, 2014 to the Respondent, refuted the debt and indicated that the Appellant had instituted an action before the High Court of Lagos State (High Court) against the Bank on the 13th of August, 2012 in respect of which she had a pendin…