By Onyewuchi Ojinnaka
Justice Chukwujekwu Aneke of a Federal High Court sitting in Lagos has awarded to Sterling Bank Plc and Petrocam Trading Nigeria (plaintiffs /applicants ) the sum of N1,071,227,023.00, admitted by Hudson Petroleum Limited (defendant /respondent) as sum owed the Plaintiffs which was erroneously paid by Debt Management Office to First Bank of Nigeria Plc.
Justice Aneke also awarded 10 percent judgement interest per annum on the said sum of N1,071, 227, 023.00 to the Plaintiff from the date of this ruling
He gave the awards on Tuesday in his ruling on Motion on Notice dated September 18 and filed September 19, 2024 by Sterling Bank Plc.
The plaintiffs had filed Motion on Notice on Suit No FHC/L /CS/744/2022, in which they sought the following reliefs :
An order of the Honourable Court entering judgement in favour of the plaintiffs/applicants in the sum of N1,071, 227, 023. 00, being the sum admitted by the defendant /respondent to be its indebtedness to the plaintiffs /Applicants.
An order of the court directing the defendant to instruct and / or advice the Debt Management Office (DMO) to re-issue in favour of Sterling Bank Plc the three Promissory Notes totalling the sum of N1,071, 227, 023. 00 already issued erroneously in favour of First Bank of Nigeria Plc.
And for such further order(s) as the Honourable Court may deem fit to make in the circumstance.
The court noted that one of the grounds for the application as stated by the plaintiffs is that by the defendant’s pleadings in paragraphs 18, 20 and 24 , of its statement of defence, admitted that the Promissory Notes were erroneously issued in favour of the First Bank Plc instead of in favour of Sterling Bank Plc (1st plaintiffs).
The court also noted that the submission of the plaintiffs that by the defendant’s statement of defence, it clearly admitted the sum of N1,071, 227, 023.00, while denying the overall amount owed as stipulated in the plaintiffs statement of claim.
The plaintiffs urged the court to grant the sum admitted while the outstanding balance can be subjected to trial.
However, the defendant in paragraph 24 of its statement of defence did not admit its indebtedness to the Applicant’s herein in the sum of N1,071, 227,023. 00 or any other sum.
But in the ruling, the court having considered the whole statement of claim, particularly paragraph 34 of the statement of claim and the whole statement of defence, particularly paragraph 24 of the statement of defence held, “this court is of the opinion that the defendant clearly and unequivocally admitted owing the plaintiffs the sum of N1, 071, 227, 023. 00 .
“Accordingly, this court awards the sum of N1, 071, 227, 023. 00 to the Plaintiff as a sum admitted by the defendant on the pleadings.
“On relief 2i, 2ii and 2iii, claimed by the plaintiffs on the facts of this case, the said Promissory Notes had already been paid by the DMO to First Bank Plc. However, the plaintiffs are not left without any remedy. The law has made abundant provisions on how a victorious party can recover its monetary judgement.
“The plaintiffs are therefore granted the sum of N1, 071, 227, 023.00 with 10 percent judgement interest per annum from the date of this ruling. “
The case was then adjourned till November 5 for the trial of the balance of the plaintiffs claim.
