UWAIFO, J.C.A. (Delivering the Leading Judgment): As a result of the default of the respondent company to settle its outstanding indebtedness with the appellant Bank arising from overdraft facilities arrangement, the bank brought an action. Judgment was given on 28 April, 1986 by Ozobu, J., sitting at the Enugu High Court, for N81,829.31 which was the outstanding principal sum and interest of N12,642.00 at 13%. The total judgment debt was N94,471.31 with costs of N956.00. The judgment was obtained on the undefended list.
The company then sought an order for instalmental payment of N1,000.00 monthly. On 29 May, 1986, the same learned judge in his ruling granted it upon the company paying N5,000.00 on or before the end of June, 1986, the N1,000.00 monthly instalmental payment to take effect from the end of July, 1986. The bank appealed out of time with the leave of this court on the grounds essentially based on the facts and circumstances of the learned judge's exercise of his discretion…