NSOFOR, JCA (Delivering the Lead Judgement): This is an appeal from the decision of the Port Harcourt High Court (K. D. Ungbuku, J.) on 17/5/84.
In the High Court of Justice of Rivers State of Nigeria, in the Port
Harcourt Judicial Division, Pabod Finance And Investment Company Limited sued Julius Ebiakpor Emberu and Freeman Ogboduo Porbeni, (the appellant herein), claiming against them jointly and severally the sum of N26,268.23 (twenty-six thousand, two hundred and sixty-eight naira, twenty-three kobo), being money lent to the first defendant, (Julius Ebiakpor Emberu) on the 25th March, 1974 and interest thereon at the rate of 10 per centum per annum which sum was guaranteed by the 2nd defendant (Freeman Ogboduo Porbeni) and which the defendants failed or refused or neglected to pay despite demands. The plaintiff further claimed interest on the amount of the said loan at the rate aforementioned from 25th March, 1974 until full payment or judgment. “PARTICULARS: Principal due as …