OYUN LOCAL GOVT.
V.
F.A.B.S. LTD

MUNTAKA-COOMASSIE JCA (Delivering the Lead Judgment): This is an appeal against the judgment of the Kwara State High Court sitting at Offa delivered by M. O. Adewara J. on the 11th of March, 2004; wherein judgment was entered, as undefended list, in favour of the plaintiff as per their writ of summons, against the defendant. The respondent as plaintiff instituted a suit placed on “undefendant list” before the lower court. The claim on the writ of summons reads thus:- “(i) The sum of four million, nine hundred and seventy three thousand, one hundred and twenty six naira (N4,973,126.00) only being the amount due from the defendant to the plaintiffas at 2nd January 2004 resulting from overdraft facilities extended to utilize by the defendant and which the defendant has refused failed and/or neglected to pay despite repeated demands by the plaintiff. 10% monthly compound interest on the aforesaid sum of N4,973,126.00 from 3rd January2004 tillthe date of judgment. 10% interest on the jud…