(2014) JELR 39696 (CA)    

Court of Appeal  ·  CA/YL/12/2012 ·  23 May 2014 ·  Nigeria
Other Citations
Eco Int l Bank Plc v. N.U.L.G.E., Jalingo L.G.C. (2015) 10 NWLR (Pt. 1466) 49
JUMMAI HANNATU SANKEY Justice of The Court of Appeal of Nigeria ADAMU JAURO Justice of The Court of Appeal of Nigeria BIOBELE ABRAHAM GEORGEWILL Justice of The Court of Appeal of Nigeria
Core Terms Beta
2nd respondent
preliminary objection
1st respondent
lower court
following cases
lone issue
exhibit e
trial court
undefended list procedure
second respondent
support reference
2nd respondents
clear days
following words
term loan facility
learned trial judge
letter of irrevocable standing payment order
subvention account of the 2nd respondent
taraba state high court
appellant vide
circumstances of this case
first respondent
following reliefs
judgment of the taraba state high court of justice
leading judgment
members of the 1st respondent
misapprehension of the law
notice of appeal
order of court
provision of section
raise issues
respective briefs of argument
respondent balance
rules of court parties
rules of this court
said notice of appeal
single issue
solitary ground of appeal
suo motu raise issues
support of the preliminary objection
unassailable evidence
way of notice of intention

ADAMU JAURO, J.C.A. (Delivering the Leading Judgment): The appeal herein is against the judgment of the Taraba State High Court of Justice, delivered on 7th July, 2011 in suit No. TRSJ/147M/2012.

The facts culminating in this appeal can be neatly compressed as follows: The 1st respondent applied for and was granted a term loan facility by the appellant vide a letter dated 6th November, 2007. The loan was for N35,000,000.00 to be disbursed to the members of the 1st respondent for the purpose of investing it in agricultural produce. The loan was guaranteed by a letter of irrevocable standing payment order given by the 2nd respondent for a monthly deduction of N2,482,209.44 from the subvention account of the 2nd respondent for 16 months to service the loan. By the same letter, the 2nd respondent guaranteed a continuous domiciliation of its subvention account with the appellant throughout the tenure of the loan. Repayment of the loan was however not effected within the stipulated time and…

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