EJEMBI EKO, J.C.A (Delivering the Leading Judgment): Before the Abia state High court [before I. Offonry, J] was this suit brought under the undefended list procedure. The Respondent, as the Plaintiff, claimed inter alia, the sum of Four million, three Hundred and sixty-nine thousand, twenty-six naira, twenty four kobo [N4,369,026.24] "being unsettled balance of overdraft facilities accorded to the Defendants', now appellants, by the respondent at the former's request. The respondent also claimed "interest at the agreed prevailing "rate of 28% per annum from January 1, 2002 or at such other rate prescribed by CBN guidelines until judgment is delivered", and "interest at the rate of 10% per annum from the date of judgment until full liquidation.
The claim was supported by a verifying affidavit of 16 paragraphs deposed to by Amos Ellejuba, Advances officer of the respondent. The affidavit averred inter alia that, on 1st Appellant's application for overdraft facility the respondent offer…