MUHAMMED LAWAL SHUAIBU, J.C.A. (Delivering the Leading Judgment): This is an appeal against the judgment of High Court of Sokoto State coram D. B. Sambo, J. in Suit No. SS/62/2012 delivered on the 11/9/2014, granting the reliefs of the plaintiff and dismissing the Defendants counter claim. The plaintiff claimed against the Defendants jointly and severally as follows: -
1. The sum of N22,995,691.45 (Twenty Two Million, Nine Hundred and Ninety Five Thousand Six Hundred and Ninety One Naira Forty Five Kobo) being the outstanding indebtedness of the Defendants to the plaintiff and or the principal monies and the accrued interest due to the plaintiff from the 1st Defendant and which payments was guaranteed by the 2nd Defendant arising from the overdraft facility extended to the 1st Defendant and which sums have remained unpaid till date notwithstanding repeated demands.
2. 35% interest rate on the sums of N22,995,691.45 (Twenty Two Million, Nine Hundred and Ninety Five Thousand Six Hundred …