CHINWE E. IYIZOBA, JCA (Delivering the Leading Judgment): This is an appeal against the judgment of Aneke J. of the Federal High Court sitting in Lagos delivered on the 18th day of February 2013. The facts that led to the suit as deduced from the Record of appeal substantially abridged are as follows:
There was an arrangement between the 1st and 2nd Respondents in this appeal but the Applicants in the Lower Court, Dr. Patrick Ifeanyi Ubah and his company Capital Oil and Gas Ltd on the one hand and the 5th Respondent herein but 4th Respondent in the Lower Court, Cosmas Maduka, a director in Access bank whereby a loan facility was obtained by Cosmas Maduka in the name of his company Coscharis Motors Limited from Access Bank to enable the parties finance the business of importation of petroleum products, Premium Motor Spirit (PMS) into Nigeria for profit sharing under the Petroleum Support Fund Scheme. The subsidy payments by the Federal Government Petroleum Products Pricing and Regulat…