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NIG.ERIA IND. DEV. BANK
V.
FEMBO NIG. LTD.

(2010) JELR 47612 (CA)

Court of Appeal 27 May 2010 Nigeria
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- The case concerns an appeal from a decision of the Ondo State High Court, where the plaintiffs/respondents claimed that the banking facilities advanced to them by the defendants/appellants (bank) were not yet due for repayment due to inco

Case Details

Suit Number:CA/B/51/2004
Judges:OYEBISI FOLAYEMI OMOLEYE Justice of The Court of Appeal of Nigeria ALI ABUBAKAR BABANDI GUMEL Justice of The Court of Appeal of Nigeria CHIOMA EGONDU NWOSU-IHEME Justice of The Court of Appeal of Nigeria
Counsel:Mr. I. O. Atofarati For Appellant Mr. C. O. Aduroja For Respondent

ALI ABUBAKAR BABANDI GUMEL, J.C.A. (Delivering the Leading Judgment): This is an appeal against the decision of the Ondo State High Court, Akure Division, Coram: G.O. Olateru Olagbegi, J. (as she then was) in Suit No. AK/6/95 delivered on 20th July, 1999.

In an Amended Statement of Claim dated 31st March, 1998, the Respondents herein, as Plaintiffs at the lower Court, sought for the following reliefs against the Appellants herein, as the defendants jointly and severally. They are as follows:-

i. A DECLARATION that by the combined effect of the loan and mortgage agreement dated the 11th day of September, 1989, a supplemental deed dated 13th day of July, 1990 and a second supplemental agreement dated 6th December, 1992 the banking facilities granted or advanced to the 1st Plaintiff by the 1st defendant are not yet due for repayment and' it cannot be due for repayment until after the implementation of the 1st Plaintiff's project and commissioning of same; ii. A DECLARATION that due to …

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