NGWUTA JCA (Delivering the Lead Judgment): This appeal is against the ruling of Edokpayi J, of the High Court of Justice, Edo State sitting at Benin City. The plaintiff in the lower court, now respondent, claimed against the defendants (now appellants) jointly and severally the sum of N905,935.44 being overdraft and/or loan granted to the 1st defendant and guaranteed by the 2nd and 3rd defendants.
The plaintiff (now respondent) claimed interest on the sum at the prevailing bank rate from 31st August, 1990 until the date of judgment and thereafter interest of 10% per annum from the date of judgment till the entire debt is paid.
The defendants (now appellants) entered appearance through their counsel. Pleadings were filed and exchanged. After several adjournments, hearing in the case started on 26/7/93, though the defendants and their counsel were absent. Proceedings were completed on 23/1/95 in the absence of the defendants and their counsel. In a reversed judgment dated 7/2/95, the …