First Bank Of Nigeria PLC V. Alhaji Isiyaku Yakubu (2013)

LawGlobal-Hub Lead Judgment Report – COURT OF APPEAL

ADAMU JAURO, J.C.A (Delivering the Leading Judgment)

This is an appeal against the judgment of the Adamawa State High Court of Justice, Yola delivered on the 1st day of June, 2012 in suit number GGSY/95/89.

The appellant as plaintiff instituted the action culminating in this appeal in the lower Court, against the respondent for following reliefs:

“(a) The total sum of N4,127,035.31 made up of the followings:

(i) The sum of 3,145,348.07 being debit balance in respect of defendant’s current account with the plaintiff as at 27th December, 1999.

(ii) The sum of N981,687.24 being debit balance in respect of the loan account of the defendant with the plaintiff as at 27th December, 1999.

(b) Interest at the bank rate of 24% per annum from 28th December, 1999 to date of judgment.

(c) Interest at the Court rate of 10% per annum from the date of judgment to date of liquidation.

TOTAL SUM CLAIM FROM THE DEFENDANT IS N4,127,035.31 with interest at 24% and 10% as aforesaid.”

The respondent as defendant filed his defence and counter claim, and amended same twice. The defendant counter claimed for the following reliefs against the appellant namely:

“(a) A declaration that the statement of account issued to the defendant or the one presented by the plaintiff i.e. Exhibits “6” “6A” – “60” is incomplete, incorrect and to that extent is not a true record of the transactions of the defendant/counter claimant with the plaintiff.

(b) The sum of N795,000.00 (Seven hundred and ninety five thousand naira) as rent due to the defendant from July 1989 to June 1999 at N79,500.00 per annum.

(i) Interest on the sum of N795,000.00 at the prevalent bank rate from 1989 until judgment.

(ii) 10% interest on the sum of N795,000.00 from the date of judgment until final liquidation.