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OLALOMI INDUSTRIES LTD. v. NIGERIAN INDUSTRIAL DEVELOPMENT BANK LTD.

(2009) JELR 47310 (SC)

Supreme Court  •  SC.212/2002  •  17 Jul 2009  •  Nigeria

Coram
GEORGE ADESOLA OGUNTADE JSC; MAHMUD MOHAMMED JSC; FRANCIS FEDODE TABAI JSC; JOHN AFOLABI FABIYI JSC; OLUFUNMILOLA OYELOLA ADEKEYE JSC;

Judgement

J. A. FABIYI, J.S.C (Delivering the Leading Judgment): This is an appeal against two decisions of the Court of Appeal, Ilorin Division (court below) delivered on 19th November, 2001 and 10th December, 2001 respectively. In the first appeal, the respondent herein appealed against part of the judgment of A.O. Belgore, J. (as he then was) wherein a part of its counter-claim was granted. In the second appeal, the appellant herein appealed out of time, with the leave of the court below, against the judgment of the trial court which dismissed its own claim.

The facts that are germane for the determination of this appeal require to be set out at a reasonable length. They are amply captured in the respondent's brief of argument. The appellant is a private limited liability company whose object was carpet production at Offa in Kwara State. The respondent is an industrial bank incorporated as a private company by the Federal Government of Nigeria.

The appellant needed fund for importation of it…

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