UNION BANK OF NIGERIA PLC & ORS. V. ALHAJI GANIU AJIBOLA OGUNSIJI

SIDI DAUDA BAGE, J.C.A. (Delivering the Leading Judgment): This appeal is against the judgment of the High Court of Lagos State, presided by Hon. Justice Y.A. Adesanya, delivered on the 22nd of April, 2004. The Appellants were the Defendants at the lower court, while the Respondent was the plaintiff.

The Plaintiff/Respondents claim against the Defendants/Appellants jointly and severally as per his writ of summons and statement of claim both dated 01/03/96, are for:

(1) The sum of N1,500,000 (One Million, Five Hundred Thousand Naira) being money paid to the Defendants (all and singular) by the Plaintiff upon a consideration that has wholly failed and the said sum is repayable to the Plaintiff.

(2) Interest on the said sum of N1,500,000 (One Million, Five Hundred Thousand Naira) at the rate of 60% per annum from 19th day of March, 1993 until judgment is given in the matter and thereafter at the rate of 6% per annum until the whole amount/debt is finally liquidated.

(3) N1,000,000 (One M…