Dr. Akinola Ogunlewe V. Union Bank Of Nigeria PLC (2016)

LawGlobal-Hub Lead Judgment Report – COURT OF APPEAL

YARGATA BYENCHIT NIMPAR, J.C.A. (Delivering the Leading Judgment)

This appeal is against the judgment of the Lagos State High Court delivered on the 16th March, 2012 by HON. JUSTICE OLOKOBA wherein the Court entered summary judgment in favour of the Respondent. Dissatisfied with the judgment, the Appellant filed a Notice of Appeal dated 19th March, 2012 with five grounds of Appeal.

The brief facts leading to this appeal are simply that the Respondent took out a writ of summons claiming as follows:

i. The sum of 266,559,168.00 being the total amount outstanding as at February 1, 2010 on the facility granted to the Defendant now appellant by the Claimant from November 16, 2007 at the defendant?s request in the usual course of business which sum the defendant has refused to repay.

ii. Interest on the said sum of N266,559,169.00 at the rate of 20% from February 1, 2010 until judgment and thereafter at the rate of 7% per annum until the sum is fully paid.

iii. An order for sale of the property known as Plot 323, Victoria Island Annex, Lagos covered by the Lagos State Certificate of Occupancy No. 8/8187 registered

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as No. 8 page 8 in Volume 1987C in the Lagos Land Registry.

iv. Cost of the action.

The Respondent also filed a motion for Summary Judgment to which the Appellant opposed by filing relevant processes such as statement of defence and a counter affidavit opposing the motion for summary judgment. The Court took the application for summary judgment and adjourned same for ruling. Subsequently the Appellant filed a motion dated 22/2/2012 seeking to strike out the Respondent’s action before the lower Court on the ground that the debt which is the subject matter of the action had been assigned or sold to the Asset management company of Nigeria and therefore the Respondent had no right of action.

The Respondent filed a counter affidavit supported by a written address. The said motion was pending before the lower Court before the trial judge delivered his judgment. The said pending motion was therefore not considered when judgment was delivered on the 16/3/2012.

?Dissatisfied therefore, the Appellant filed his Notice of Appeal containing five grounds of appeal. The Appellant’s brief settled by Adewale Adesokan dated 13/3/2014 was filed on the same date

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and a reply Brief dated 14/3/16 filed on the same date also. The Respondent’s brief settled by Bisi Bello dated 10/12/2014 was filed on the 17/2/15 and deemed on the 2/3/16. The briefs were adopted at the hearing of the appeal. The Appellant formulated 3 issues for determination as follows: