Ratio DecidendiRatio DecidendiRatio DecidendiRatio DecidendiRatio Decidendi


(2021) JELR 108838 (CA)    

Court of Appeal  ·  CA/G/105/2016 ·  5 Jun 2021 ·  Nigeria
Jummai Hannatu Sankey JCA Tunde Oyebanji Awotoye JCA Ebiowei Tobi JCA

Ratio Decidendi

EBIOWEI TOBI, J.C.A. (Delivering the Leading Judgment): This appeal is against the ruling of Hon. Justice B. L Iliya (Mrs.) of the Gombe State High Court of Justice delivered on 28th January, 2016 in suit No.GM/200/2015. The facts that culminated into this appeal is that sometime in or about the 25/5/2009, the 2nd Respondent applied for a loan facility from the 1st Respondent and same was granted to the tune of N75,000,000.00 (Seventy Five Million Naira Only) which was guaranteed by the 1st Appellant. The 2nd Respondent was unable to pay back the facility and so on two occasions the facility was converted to loans with the total amount coming to N184,162,850.73k representing the principal sum and interest. The 2nd Respondent was in default in repaying the loan that is the 2nd Respondent failed to settle its indebtedness to the 1st Respondent. This prompted the 1st Respondent to commence this suit in the lower Court claiming mainly for the sum of N184,162,850.73k representing the loan …

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