PARETO FUNDS & SEC. LTD.
V.
INT'L TRUST BANK PLC.

(2011) JELR 46093 (CA)    

Court of Appeal  ·  CA/PH/2/2008 ·  8 Jun 2011 ·  Nigeria
CORAM
M. DATTIJO MUHAMMAD (OFR) Justice of The Court of Appeal of Nigeria ISTIFANUS THOMAS Justice of The Court of Appeal of Nigeria TUNDE O. AWOTOYE Justice of The Court of Appeal of Nigeria
Core Terms Beta
appellant
respondent
defendant
trial court
undefended list
exhibit a
learned trial judge
notice of intention
affidavit evidence
general cause list
grounds of appeal
dna plus resources
lower court
federal high court
part of the respondent
support of the notice of intention
central bank of nigeria
considered view
notice of preliminary objection
sole issue
above principle of law
affidavits evidence
anad associates ltd
appellant extension of time
claim of the plaintiff respondent
decisions of the trial judge
evidence of the ultra vires rapture of the contract
exhibits b
federal high court port harcourt
following reasons
issue of jurisdiction
leading judgment
notice of appeal
notice of defence
order of the trial court
port harcourt branch
post judgment interest
see oyegoke v
settled principle of law
sum of n17,726,833.73
undefended cause list
written addresses of parties

ISTIFANUS THOMAS, J.C.A. (Delivering the Leading Judgment): By writ of summons, the plaintiff but now simply the respondent, filed on the 03-08-2004 against the defendant, but to be referred to as the appellant. The suit was commenced at the Federal High Court Port Harcourt presided by A.O. Faji, Judge, who delivered his judgment on 16-12-2005 against the appellant and it was on the undefended list.

The respondent's claim on the writ was for the sum of N17,726,833.73 being the principal and "accrued profit sharing investment yield charge" as at 31-07-2007 arising from debt and thereafter profit sharing investment yield charge at the rate of 5.5% and then 10% post judgment interest.

The respondent's writ on the undefended cause list was, supported by affidavits evidence wherein, it set out the claim against the appellant as follows:

"i. sometimes on 21-08-01 the appellant by Exhibit A, requested the respondent to invest N3,000.000 by disbursing same to the appellant's customers, DNA PL…

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