IBRAHIM SHATA BDLIYA, J.C.A. (Delivering the Leading Judgment): This is an appeal against the judgment of the Katsina State High Court of Justice (the Lower Court) delivered on 16th June, 2011 in suit No.KTH/MF/4UL/2011, by A. A. Bawalw, J. The background facts of the suit before the Lower Court are simple and straight-forward. The respondent (who was the plaintiff at the Lower Court) took out a writ of summons under the Undefended List Procedure claiming for the following reliefs:
(i) The sum of Seven Million, Eight Hundred and Fifty-Three Thousand, Two Hundred and Sixty-One Naira Eighty Kobo (₦7,853,261.80) being the sum of money outstanding and unpaid indebtedness on Account No. 0327001000000177 domiciled with the respondent at its Malumfashi Branch, Katsina State.
(ii) Interest on the aforesaid sums of money at 21% from 7th December, 2010, till date of judgment, and
(iii) 10% interest thereafter, until the liquidation of the entire sum of money being claimed.
The case of the responde…