HUSSEIN MUKHTAR, J.C.A.(Delivering the Leading Judgment): The plaintiff (the respondent herein) brought an originating motion at the Federal High Court Lagos (the court below) for enforcement of the arbitral award against the defendant (the appellant herein) made in London on the 28th April, 1997 as detailed in paragraph 16 of the supporting affidavit dated 11th February, 1998 thus:
"The sums of the award for which the plaintiff/applicant as at 10th February, 1998 now seeks to enforce the judgment are as follows:
a. US$ - DOLLARS
Principal sum due at date of award = US$84,531.81
Interest at 8% from date of award @
daily rate of $18.52 to today = US$5,352.28
10.2. 1998 (289 days)
Total due at 10 February, 1998 = US$89,866.09
b. GBP STERLING
i. Tribunal's cost of Arbitration award = GBP8,319.00
Interest at 8% from date Of award @
daily rate of GBP 1.82+to today 10-2-
1998 (289) day = GBP 525.98
= GBP 8,844.98
ii. Claimants' legal costs Pursuant to arbitration
award = GBP24,753.71
Inte…