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BENDEL INSURANCE COMPANY PLC
V.
B.C.M. FINANCE & SECURITIES NIGERIA LTD

(1997) JELR 45436 (CA)

Court of Appeal 23 Jan 1997 Nigeria
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Case Details

Suit Number:CA/K/231/94
Judges:UMARU ABDULLAHI Justice of The Court of Appeal of Nigeria MAHMUD MOHAMMED Justice of The Court of Appeal of Nigeria IBRAHIM TANKO MUHAMMAD Justice of The Court of Appeal of Nigeria
Counsel:O.O. Akpouwa; For Appellant I. N. Buba (with him, Odigi) For Respondent
Other Citations:Bendel Ins. Co. Plc. v. B.C.M. Finance (1997) 8 NWLR (Pt.518), (1997) 8 NWLR (Pt. 518) 597, (1997) JELR 74312 (CA)

MOHAMMED, J.C.A. (Delivering the Leading Judgment): The respondent in this appeal as the plaintiff took out a writ of summons and claimed against three defendants jointly and severally including the appellant in the Kaduna State High Court the following reliefs:

1. "(a) Money which became due and payable on or about 1-9-91 by the 1st, 2nd and 3rd defendants jointly and severally to the plaintiff being money N550,000.00 lent by the plaintiff to the 1st defendant on or about 13-6-91 and interest there on secured by the credit Bond No NBCB 12469 of 6-6-91 executed by 2nd defendant as surety, obligor or guarantor of the Loan in favour of the plaintiff N720,000.00k.

(b) Default interest at 5% of the principal sum (N550,000.00) per week (i.e. N27,000.00 per week) from 11-9-91 to 5-11-91... N220,000.00.

2. Default interest at 5% of the principal sum (N550,000.00) per week (i.e. N27,000.00 per week) from 6-11-91 until the date of judgment.

3. Interest at the rate of 10% of the judgment sum pe…

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