IBRAHIM MOHAMMED MUSA SAULAWA, JCA (Delivering the Leading Judgment): The current appeal is consequent upon the judgment of the High Court of Akwa Ibom State, delivered on May 21, 2012 in the consolidated suits No. HU/383 and 384/2003. By the decision in question, the Court below entered judgment in favour of the Respondents [plaintiffs] and struck out the Respondents [Defendants] counter claim.
BACKGROUND FACTS
The genesis of the instant case dates back to October 28, 2003. That was the day the Respondents instituted the said suit in the Court below vide a writ of summons against the Appellants. By the [Amended] writ of summons and statement of claim thereof, filed on 08/04/04, the Respondents sought against the Appellants:
(1) An Order compelling the defendants to refund the sum of ₦5,667,500.00 paid by the plaintiff to finance the joint venture business in Econet Products together with interest at 2% calculated at monthly rests [sic].
Or Alternatively,
(2) An Order compelling the defend…