KUDIRAT MOTONMORI OLATOKUNBO KEKERE-EKUN, JSC (Delivering the Leading Judgment): The 1st respondent herein (plaintiff at the trial Court), as the owner of a business centre known as Amusement International Guest House Ltd., on 10th September 1996, secured a loan of ₦600,000.00 from the appellant. The facility was secured with his landed property situate at No. 11, Adamu Road, Off Taiwo Road, Ilorin, covered by a statutory Right of occupancy No. KW 7052. The parties duly executed a deed of mortgage wherein it was stipulated that the interest on the loan shall be per annum. It was the 1st respondent's contention that not only had he repaid a total sum of ₦826,476.00 to the 1st respondent, he had in fact made an overpayment of ₦179,905.00 between October 1998 and March 1999. He set out in his pleadings the schedule of repayments. It was also the appellant's contention that although the parties originally agreed that the loan would be repaid within one year, it was later agreed that the r…
ATIBA IYALAMU SAVINGS & LOANS LTD
V.
SUBERU & ANOR
(2018) JELR 39427 (SC)
Supreme Court 23 Mar 2018 Nigeria
BriefBot Summary
- The 1st respondent obtained a ₦600,000 loan from the appellant, secured by a legal mortgage on his property, with the parties executing both a letter of offer (Exhibit D1—3% interest per month) and subsequently a Deed of Legal Mortgage (E
Case Details
Suit Number:SC.154/2007
Judges:OLUKAYODE ARIWOOLA Justice of The Supreme Court of Nigeria
MUSA DATTIJO MUHAMMAD Justice of The Supreme Court of Nigeria
KUDIRAT MOTONMORI OLATOKUNBO KEKERE-EKUN Justice of The Supreme Court of Nigeria
CHIMA CENTUS NWEZE Justice of The Supreme Court of Nigeria
EJEMBI EKO Justice of The Supreme Court of Nigeria
Counsel:T.A.B. OLADIPO ESQ. with him, Jude Ezea Esq. For Appellant
ADEOLA OMOTUNDE ESQ. for the 1st Respondent.J.S. MUHAMMAD ESQ. for the 2nd Respondent, For Respondent
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