OBASEKI-ADEJUMO JCA (Delivering the Lead Judgment): This appeal stems from the judgment delivered by Honourable Justice S.A.
Onigbanjo of the High Court of Lagos State on 20 April 2011 in suit No. ID/436/2007, wherein he dismissed the appellants’ counterclaim in its entirety and entered judgment in favour of the respondent in the sum of N12,955,03.02 (twelve million, nine hundred and fifty-five thousand, three naira, two kobo), with interest at the rate of 19% per annum until the final liquidation of the judgment debt. The learned trial judge in the alternative,ordered the sale of the 2nd appellant’s property at No. 6, Ogo Oluwa Avenue, Ajuwon, Iju, Agege, Lagos, covered by Lagos State certificate of occupancy registered as No. 5 at Page 5 in Volume 1955 of the Lagos State Land Registry Office, Alausa, Ikeja.
The respondent by its amended statement of claim dated 22
October 2008, sought the following reliefs:-
The sum of N12,955,03.02 (twelve million, nine hundred and fifty-five thous…