P. O. ADEREMI, J.S.C. (Delivering the Leading Judgment): This is an appeal against the judgment of the Court of Appeal (Lagos Division) delivered on the 13th of June, 2002, in appeal No. CA/L/275/95: First Bank of Nigeria Plc. Versus Kayode Abraham. The appellant who was also the appellant in the court below and the plaintiff in the trial court had taken out a Writ of Summons in the trial court claiming against the respondent before this court and who was then the defendant in the trial court, as follows:
The plaintiff's claim against the defendant is for recovery of the sums of $644,382.16 DR. i.e. (N6,416,821.99) and $499,786.15 DR. (N4,976,920.46) in Loan Accounts Nos. 5814903420 and 5814904160 respectively and 64,816.59 pounds i.e. (N1,109,672.98) in Loan Account No.7114902420 as at 31st October,1991, totaling in all N12,503,415.43 DR. being the total indebtedness owed to the plaintiff by the defendant as a result of credit facilities by way of loans granted to the defendant by th…