T.O. AWOTOYE, J.C.A. (Delivering the Leading Judgment): This is the judgment in the appeal against the judgment of JUMBO J. at the Rivers State High Court Port Harcourt delivered on 22/01/2004.
The plaintiff in the lower court took out the writ of summons against the defendant claiming as follows:
"1. The sum of N7,104,626.63 (Seven Million, One Hundred and Four Thousand, Six Hundred and Twenty Six Naira, Sixty Three Kobo only) being monies due and outstanding from the defendants in favour of the Plaintiff for the Contract Finance Facility granted the defendant.
2. Interest on the said sum of N7,104,626.63 (Seven Million, One Hundred and Four Thousand, Six Hundred and Twenty Six Naira, Sixty Three Kobo only) at the rate of 38% per annum from the date this matter is instituted until judgment.
It further sought and obtained leave of order of court to enter the suit under the undefended list. The motion exparte on this prayer was supported by a 25 paragraphs of affidavit.
As required by …