CORAM

OBASEKI, JUSTICE SUPREME COURT

OBASEKI, JUSTICE SUPREME COURT

OBASEKI, JUSTICE SUPREME COURT

PARTIES

NIGERIA DEPOSIT INSURANCE CORPORATION (LIQUIDATOR OF ALLIED BANK OF NIGERIA PLC)? APPELLANTS

1.    PADUA INVESTMENT NIGERIA LIMITED

2.    CHIEF  M.O. NLEMIGBO

RESPONDENTS 

AREA(S) OF LAW

SUMMARY OF FACTS

The Appellant as liquidator of Allied Bank of Nigeria filed an action in the Federal High Court against the Respondents for recovery of debt and in particular, claiming as follows: AN ORDER against the Respondents for the immediate payment of the sum of N141,169,534.91 (One Hundred and Forty One Million, One Hundred and Sixty Nine Thousand, Five Hundred and Thirty four Naira, Ninety One Kobo) being outstanding balance and interest thereon, due to the Allied Bank of Nigeria Plc from the facilities granted to the Respondent and Interest on the said sum of N139,864,135.24 (One Hundred and Thirty Nine Million, Eight Hundred and Sixty four Thousand, One Hundred and Thirty five Naira, Twenty kobo) at the rate of 21% per annum until judgment of the Honorable tribunal and thereafter at the rate of 16% until the whole debt is fully liquidated.  At trial, the Appellant called one witness while the Respondent only cross examined the sole witness of the Appellant and did not call any witness. The trial court after due consideration of the evidence adduced by the parties entered judgment in favour of the Respondent and thereby dismissed the claim of Appellant. Being aggrieved by the said decision, the Appellant filed an appeal against same before this court.

HELD

Appeal Allowed

ISSUES

1.    Whether at the trial the Appellant proved her case by preponderance of evidence to entitle her to the reliefs sought as per her Amended Application for Recovery of Debt.

RATIONES DECIDENDI

CASES CITED

STATUTES REFERRED TO

Evidence Act

CLICK HERE TO READ FULL JUDGMENT