ABUBAKAR SADIQ UMAR, J.C.A. (Delivering the Leading Judgment): This is an appeal against the judgment of the High Court of Lagos State, Lagos Judicial Division delivered by T.A. Oyekan-Abdullai, J. on 15th February, 2018, wherein the learned trial Judge granted the reliefs sought by the 1st and 2nd Respondents in their counterclaim against the Claimant.
BRIEF STATEMENT OF FACTS
The Appellant herein was substituted for City Express Bank Limited, which itself was earlier substituted for Industrial Bank Limited, the original Claimant.
The case of the Appellant as 1st Claimant was that the 1st Respondent took a loan of N42,000,000.00 (Forty Two Million Naira) from Industrial Bank Limited for the purpose of importing artificial resins. That the 1st Respondent also applied for and was granted various overdraft facilities totalling N26,506,070.00 (Twenty Six Million, Five Hundred and Six Thousand and Seventy Naira) by Industrial Bank Limited, the original Claimant. The Appellant stated further …