BOLOUKUROMO M. UGO, JCA (DELIVERING THE LEADING JUDGMENT): The facts of this case are not very complicated. In the year 2014, 1st respondent, Demola Akintunde Ayo, representing 355 other persons, commenced proceedings under the Undefended List Procedure against one Geldaps Investment Nig. Ltd and Skywards Technologies as defendants in the High Court of Kwara State. His case was that he and those he represented invested the total sum of N345,600,000.00 with the said defendants fund management scheme on agreement that the said monies will be paid back to them with fabulous interest within three months. As is common with such schemes, the defendants did not keep their promise, hence their action.
In line with the rules of that Court, 1st respondent swore in the affidavit supporting his action that the defendants did not have any defence to their action.
With the defendants (Geldaps Investment Nig. Ltd and Skywards Technologies) not responding to the action, the trial Judge, S.M. Akanbi J.,…