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EZEONWU OSITA I. v. NANKA MICRO-FINANCE BANK LIMITED

(2016) JELR 33601 (CA)

Court of Appeal  •  CA/E/354/2006  •  13 Dec 2016  •  Nigeria

Coram
HELEN MORONKEJI OGUNWUMIJU JCA; IGNATIUS IGWE AGUBE JCA; JOSEPH TINE TUR JCA;

Judgement

HELEN MORONKEJI OGUNWUMIJU, J.C.A. (Delivering the Leading Judgment).: This is an appeal against the Judgment of Hon. Justice I.M. Onwuamaegbu of the Anambra State High Court in Suit No. AG/110/2004 delivered on 11/05/2005.

Briefly, the facts that led to this appeal are as follows: -

The Appellant was a customer of the Respondent. He applied and was granted a loan facility of N1,000,000.00 (One Million Naira) by the Respondent. The Appellant defaulted in the payment of the said loan and Respondent claimed that on 31/10/04, the Appellant's debt stood at N2,429,119.16. The Respondent consequently instituted an action at the trial Court under the Undefended List against the Appellant for liquidated money demand.

The claim as contained in the writ is set out below:-

a. N2,429,119.16 being debts owed the plaintiff by the defendant as at 31/10/04.

b. 25 percent on per annum interests in the above sum from 31/10/04 until the entire judgment debts are liquidated.

c. 5 percent interest per annum of …

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