A Lagos high court sitting in Igbosere has given judgement against a company, POD OF DIAMOND LIMITED owned by prince Emannuel Tunde Akran the son of Oba Akran of Badagry.
The Akran of Badagry, He Aholu Menu -Toyi 1, for being indebted to a finance house, Capital Bancorp Limited to the tune of over N126m.
Joined as a defendant to the suit are the managing director of POD DIAMOND LIMITED prince Emannuel Tunde Akran and Philip Don Oriabure (The son in- law of the Oba of Badagry who respectively stood as a guarantor for the unpaid debt.
Justice J. O Oyefeso after listening to both parties’ submission delivered a landmark judgement where she upheld the argument of counsel to the plaintiff Mrs I. Ukandu.
“It is clear that where a defendant has no bonafide evidence to substantiate its defence, the appropriate things is to dismissed such and consider the claims of the plaintiff, I find that the claimant is deserving of judgement and accordingly judgement is hereby entered in favour of the claimant against all defendants in the sum of 23,319,758.91, being the amount outstanding as at December 2011 less N1.5m paid together with interest at the rate of 25 percent per annum “.
The judge also held that the judgement creditor in their 35 paragraph affidavits stated that a facility was guaranteed to POD OF DIAMOND LIMITED in January 2011 for twelve months with two months moratorium of which the defendants accepted the offer through its Board Resolution and signed acceptance certificate which the 2nd and 3rd defendant guaranteed, I am taking aback as to how the defendants could insist in the face of overwhelming evidence that there are no debt and that they need account to be reconciled.
The judge went further and said it is clear that where a defendant has no bonafide defence and where he has been unable to disclose further issues worthy of consideration, he ought not to be allowed to dribbled a claimant out of an early judgement it deserves. The judge reiterates that there is no sense in delaying the inevitable, accordingly, I entered judgement in favoured of the plaintiff, in this case, Capital Bancorp Limited because it has placed a sufficient material fact with overwhelming evidence before this court.
However, it was gathered that since October 2014 that this judgement has been delivered the defendants have failed to obey the judgement or paid the judgement sum and have their address of operation. Only time will tell the next line of action through which the judgement of a competent jurisdiction will be fully obeyed as it ought to be in Nigeria without fear or favour of any personality in2 our dear society.
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