United Bank For Africa PLC V. Wilmas Nigeria Limited & Anor (2016)

LawGlobal-Hub Lead Judgment Report – COURT OF APPEAL

JIMI OLUKAYODE BADA, J.C.A. (Delivering the Leading Judgment)

This is an appeal against the Judgment of High Court of Justice, Effurun, Delta State of Nigeria in Suit No ? EHC/21/2010 ? WILMAS NIG. LTD AND ANOTHER v. UNITED BANK FOR AFRICA PLC delivered on the 9th day of July 2012 wherein Judgment was given in favour of the Respondents and against the Appellant.

Briefly the facts of the case are that by their amended statement of claim, the claimants now Respondents prayed for the following reliefs:-

“1. A Declaration that as at or about 3rd June, 2008, the claimants were no longer indebted to the defendant.

2. An order compelling the defendant to release and handover to the claimants all title documents and/or properties of the claimants in defendant?s possession.
3. The sum of (N15,000,000.00) Fifteen Million Naira being damages suffered by the claimants over wrongful detention of claimant?s document or property title documents kept by the defendant after claimants

had liquidated their indebtedness to the defendant.”

The Defendant upon being served with the claim of the claimants counter claimed as follows:-

“(i) Payment of the sum of (N550,000.00) Five Hundred and Fifty Thousand Naira being claimants indebtedness to Defendant.

(ii) Interest at the rate of 21% per annum or at the prevailing bank rate whichever is higher on the said sum of (N550,000.00) Five hundred and fifty thousand Naira from June 2010 until the entire sum is liquidated.

(iii) Interest of 10% on the Judgment sum from date of Judgment until the entire sum is liquidated

(iv) Other suitable reliefs.”

At the conclusion of hearing, judgment was entered in favour of the claimants as follows:-

(1) As at or about 3rd June, 2008 the claimants were no longer indebted to the defendant. Consequently, the defendant is hereby ordered to execute a deed of release in favour of the claimants within 30 days hereof.

(2) The Defendant is hereby ordered to release and handover to the claimants all title documents and/or

properties of the claimants in defendant?s possession within 15 days hereof.