OGUNBIYI JCA (Delivering the Lead Judgment): The appellants herein have appealed against the ruling of the High Court of Lagos State dated 14 April 2008 delivered by Honourable Justice R. T. B.Adebiyi which granted the reliefs sought in the motion for summary judgment brought pursuant to Order II of the High Court of Lagos State (Civil Procedure) Rules, 2004. The rulingof the High Court is contained at pages 175 - 178 of the record of appeal while the motion for summary judgment is contained at pages 78 - 119 of the record of appeal. The ruling appealed against had granted the followingreliefs to the respondent:
The sumof N48,792,787,96k(forty-eight million,seven hundred and ninety-twothousand, sevenhundred andeighty-seven naira ninety-six kobo) due to the claimant as at 31 December 2006 on the credit facility granted by the claimant to the 1st defendant repayment of which was guaranteed by the 2nd, 3rd and 4th defendants.
(b) Interest on the said sumat the rate of 22.5% from 31 Decem…