CHIDI NWAOMA UWA, JCA (DELIVERING THE LEADING JUDGMENT): The appellant as applicant before the High Court of Lagos State, presided over by Oyefeso, J. was dissatisfied with the Ruling of the court delivered on the 14th day of December, 2015 refusing the appellant's application which sought to set aside and/or nullify the consent judgment entered by the lower court.
The background facts are that the 1st respondent as claimant at the lower court commenced the suit via a writ of summons dated 5th November, 2014 claiming the sum of ₦1,303,680,000.00 (one billion, three hundred and three million, six hundred and eighty thousand naira) and interest thereon, being an alleged sum paid by it to the 2nd respondent (the Defendant at the lower court) for the supply of Automotive Gas Oil (AGO).
A few days after the suit was filed, the parties/the respondents (Claimant and Defendant) at the lower court executed a terms of settlement dated 14th November, 2014 and on the 18th day of November, 2014 the…