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OLUWALOGBON MOTORS & ANOR v. NIGERIA DEPOSIT INSURANCE CORPORATION

(2018) JELR 38347 (CA)

Court of Appeal  •  CA/L/12M/18  •  11 May 2018  •  Nigeria

Coram
TIJJANI ABUBAKAR JCA; UGOCHUKWU ANTHONY OGAKWU JCA; ABIMBOLA OSARUGUE OBASEKI-ADEJUMO JCA;

Judgement

ABIMBOLA OSARUGUE OBASEKI-ADEJUMO, J.C.A.(Delivering the Leading Judgment): This is an appeal against the Ruling of the Federal High Court, Lagos division per Honourable Justice I. N. BUBA delivered on the 10th of February, 2017 in suit FHC/L/CS/812/2016 wherein the Court entered judgment in favour of the Respondent sequel to the Respondent's application dated 26th October, 2016 for judgment based on admission against the Appellants.

Appellants been dissatisfied with the Ruling filed a Notice of Appeal dated 23rd of February, 2017 which was transmitted to the Court out of time and deemed 13th February, 2018.

The summary of the facts is that the 1st Appellant was a customer of the defunct Metropolitan bank Ltd and was allegedly said to owe the bank the sum of N544,578,134.72K. The Appellants denied same on the ground that interest had been wrongly computed into the account of the 1st Appellant, wherein the Appellants instituted suit FHC/L/CS/127/2006 seeking for a review, reconciliation …

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