WEMA SECURITIES AND FINANCE PLC V. NIGERIA AGRICULTURAL INSURANCE CORP

CHIMA CENTUS NWEZE, J.S.C. (Delivering the Leading Judgment): The appellant in this appeal, (as plaintiff), took out a Writ under the Undefended List at the High Court of the Federal Capital Territory against the respondent in this appeal (as defendant). The claim, which was for the sum of Five Million, Eighty Eight Thousand, Two Hundred and Eleven Naira, Eighteen Kobo (N5,088,211.18), was predicated on an overdraft of Five Hundred and Seventy Thousand (N570,000.00) which the plaintiff, allegedly, extended to one Charles Ogbolu.

Pursuant to the applicable rules of the said court (hereinafter, simply, referred to as "the trial court"), the respondent filed a Notice of Intention to defend. In the accompanying affidavit, it was averred that the respondent was not privy to the alleged loan agreement between the appellant and the said Chris Ogbolu.

The trial court entered judgment, as claimed, under the Undefended List. Dissatisfied, the respondent approached the Court of Appeal, Abuja Div…