OGEBE, J.C.A. (Delivering the Leading Judgment): The respondent sued the appellant before the Kaduna State High Court is a writ endorsed on the undefended list as follows:-
"1. The plaintiff's case against the defendant is for the sum of N401,114.89 (Four Hundred and One Thousand One Hundred and Fourteen Naira Eighty-Nine Kobo) being the outstanding balance together with interest and other banking charges which accrued as at 4th January 1995 on the overdraft facility granted to the defendant.
2.Compound interest of the said sum of N401,l 14.89 (Four Hundred and One Thousand One Hundred and Fourteen Naira Nighty-Nine Kobo only) at the rate of 35 per annum from 4th January, 1995 until the entire sum is liquidated and thereafter at the rate of 10% until the entire sum is liquidated.
There was an affidavit in support of the writ disclosing that the appellant was granted overdraft facilities in the sum of N60,000.00 on the 9th of July 1985 but he failed to liquidate the overdraft which was la…