ABUBAKAR JEGA ABDULKADIR, J.C.A. (Delivering the Leading Judgment): This is an appeal against the judgment delivered on 25/9/2008 by Hon. Justice A.A. Nwobodo of the Enugu Judicial Division of the Enugu State High Court of Justice granting the reliefs sought by the respondent in the trial court.
The Respondent as the then Plaintiff commenced an action against the Defendants (now Appellants) at the High Court of Justice, Enugu State (hereafter simply referred to as "the lower court") by a writ of summons filed on 28/7/98. The original 27 paragraph Statement of Claim filed on 28/7/98 was later amended and refiled on 29/9/2005 wherefore the Plaintiffs sought the following reliefs:
a. "A declaration that the transaction between the plaintiff and the 1st defendant in all the circumstances of the case was intended to be and was a loan transaction which ought to comply with the stipulations of the money lenders law with repayment of the loan and interest thereon secured by an equitable mortg…