CORAM

PARTIES

ZEF NIGERIA LIMITED APPELLANTS

FIDELITY BANK PLC RESPONDENTS

AREA(S) OF LAW

Nil

SUMMARY OF FACTS

The Defendants/Appellants approached the Plaintiff/Respondent for Loan import Banking facility for the importation of Consumer goods into Nigeria of the sum of N10,000,000;00, the facility was granted by way of confirmed letters of credit to the 1st Defendant. The Plaintiff/Respondent approached the Court when he discover that the Defendant/Appellants were in breach of terms of the Loan Agreement. The Plaintiff/Respondent claim against the Defendants/Appellants jointly and severally for the sum of 4424,766,634.43 (Twenty-Four Million, Seven Hundred and Sixty-Six Thousand, Six Hundred and Thirty-Four Naira and Forty-Three Kobo) being the sum outstanding against the Defendants/Appellants account number 110009615 with the Plaintiff/Respondent arising from the loan facility granted to the Defendants/Appellants by the Plaintiff/Respondent, also interest on the said amount was also claimed. The High Court after hearing from parties held in favour of the Plaintiff/Respondent. Dissatisfied with the Judgment of the Court, the Defendant/Appellant filed a notice of Appeal and an application for stay of execution.

HELD

Appeal Dismissed

ISSUES

-Whether or not the learned trial judge duly exercised the principles of fair hearing in giving judgment against the 1st Defendant/Appellant in the absence of a final address?-Whether or not the learned trial judge was right in not calling on the Plaintiff to discharge the onus of proof hanging on him to show by evidence the goods which the parties agreed should be imported with the facility in view of the pleading in the statement of claim to the effect that the Defendant imported goods liable to seizure and different from that which the parties agreed upon?

RATIONES DECIDENDI

CASES CITED

STATUTES REFERRED TO

Constitution of the Federal Republic of Nigeria1999 (as amended)

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