UBA PLC & ANOR V. VIEW & TRUST VENTURES LTD & ANOR

MUHAMMED LAWAL SHUAIBU, J.C.A. (Delivering the Leading Judgment): This is an appeal against the judgment of the High Court of Cross River State sitting at Calabar, delivered by Hon. Justice U. A. Ibitham on 25th day of June, 2018 granting the reliefs of the claimants therein. 

The respondents as claimants at the lower Court commenced suit No. HC/316/2016 on 6th March, 2017 against the appellants being the defendants, claiming the following reliefs:- 

1. Seven Million, Forty Three Thousand Naira (N7,043,000) only as special damages being expenditure incurred in the bid process.

2. An order for the payment of N35,613,900 (Thirty-Five Million, Six Hundred and Thirteen Thousand, Nine Hundred Naira) only being profit of 30% accruable from the contract as allowed by public procurement Act, 2007, which award was truncated by the intentional/negligent refusal or negligent non-issuance of the bank guarantee by the defendants. 

3. 21% interest per annum on the (N7,043,000) expended on the bid pro…