OGUNTADE, JCA (Delivering the Lead Judgment): In suit No. LD/ 1212/87 at the Lagos High Court the appellant (hereinafter referred to as the plaintiff) brought a suit against the respondent (hereinafter called the defendant) claiming as follows:- “(a). The sum of N109,725.55 being the balance payable by the defendant to the plaintiff at the close of business on 1/09/87 due on the loan/overdraft facilities extended to the defendant by the plaintiff at the defendant’s request.
Interest at the rate of 21% per annum at monthly rate on the sum of N109,725.55 from 1/09/87 to the date of judgment and thereafter at 6% per annum from date of judgment until the whole debt is liquidated plus costs thereof.
The plaintiff filed an amended statement of claim. The defendant filed a statement of defence and counter-claim. The counter-claim was stated thus:- “(a) For the sum of N160,821.42.
An account of what number of shares if any have been received by way of scrips or bonds in respect of the share ce…