Justice Chinyere Nwecheonwu of High Court of the Federal Capital Territory sitting in Kuje, has fixed September 13 and 14, 2023 for definite hearing of a suit seeking over N40m compensation against Pagmat Oil and Gas Nig. Ltd, Prudential Steps Savings & Loan and Fidelity bank.
Mr Ojonimi Apeh Esq., filed the suit on behalf of a Kano based car dealer, Tripple C Motors Nigeria Ltd.
At a resumed sitting on Wednesday,
Justice Nwecheonwu deemed the statement of defence filed out of time by Elvis Utulu, counsel to the 1st defendant (Fidelity Bank) as duly filed, having been regularized.
However, Pagmat Oil and Gas Nig. Ltd (2nd defendant) and Prudential Steps Savings and Loan (3rd Defendant) were absent in court despite being served with hearing notices.
Utulu told the court that he was unable to serve the 2nd and 3rd defendants with his processes.
Apeh informed the court that since the issue in dispute is majorly documentary, he needed a short date to call his sole witness and possibly close his case.
But in a short ruling, the court adjourned to September 13 and 14, in view of the forthcoming vacation.
“Hearing notice, including all the processes to be served on the 2nd and 3rd defendants for definite hearing on September 13 and 14” Justice Nwecheonwu stated.
By the suit, the Plaintiff is claiming against the defendants jointly and severally, the sum of over N40million as compensation for unlawful withholding of it’s money for a period of 43 months.
Tripple-C Motors wants the court to declare that the refusal and failure of the defendants to pay it the sum of ₦86,000,000.00 (Eighty-Six Million Naira Only) for supply of cars it made for, and at the instance of the defendants as at when due resulted in the loss of profits/earnings to the claimant in the sum of at least N4,300,000.00 (Four Million Three Hundred Thousand Naira) only per month for a period of 43 months cumulating loss of at least N34,400,000.00 (Thirty-Four Million, Four Hundred Thousand Naira) only for that period and thereby rendering the defendants liable to the claimant in damages.
“An order directing the defendant to pay the claimant the sum of N34,400,000.00 (Thirty-Four Million, Four Hundred Thousand Naira) only as projected returns and/or loss of anticipated profits/earnings.
Twenty percent interest on the judgment sum per month from the date of judgment until the judgment debt is fully liquidated.
“An order directing the defendants to pay the claimant the sum of ₦6,000,000.00 (Six Million Naira) only as cost of this suit.
“A declaration that the claimant was entitled to payment of the sum of ₦86,000,000.00 (Eighty-Six Million Naira Only) by the defendant within 30 days of the supply of the cars for and at the instance of the defendant being the value of the cars supplied for and at the instance of the defendant by the Plaintiff on 28/12/2018.
“A declaration that the refusal and failure of the defendant to pay the Claimant the sum of ₦86,000,000.00 (Eighty-Six Million Naira Only) within 30 banking days from the date of supply of the cars by the claimant for, and at the instance of the defendants is a breach of contract between the claimant and the defendants.
In the alternative, the Plaintiff seeks “A declaration that the refusal and failure of the defendants to pay the Claimant the sum of ₦86,000,000.00 (Eighty-Six Million Naira Only) for supply of cars made by the claimant for, and at the instance of the defendants as at when due renders the defendants liable to payment of compensation to the claimant for wrongly holding onto the money of the claimant in a commercial transaction.
“An order directing the defendant to pay to the plaintiff an amount which is equal to 20% (twenty percent of N86,000,000.00 (Eighty-Six Million Naira Only) per annum from 12/02/2019 when the said sum of N86,000,000.00 (Eighty-Six Million Naira Only) was due but not paid by the defendant until 06/10/2022 when the defendant paid the claimant the principal contract sum of N86,000,000.00 (Eighty-Six Million Naira Only) as compensation for the wrongful withholding of claimant’s money in a commercial transaction for a period of over 43 months without justification.
Twenty percent interest on the judgment sum per month from the date of judgment until the judgment debt is fully liquidated.
“An order directing the defendants to pay the claimant the sum of ₦6,000,000.00 (Six Million Naira) only as cost of this suit.
In a statement of claim, the Claimant avers that the vehicles were only delivered based on the fact that the Block Funds/Irrevocable Standing Order, dated 20th December, 2018 was issued by the bank’s Utako branch Manager and handed to Dr. Adamu Kukuri, the Claimant’s Director.
The Claimant avered that upon the expiration of 30 (Thirty) banking days after delivery of the 7 vehicles, no money was paid into her account with Zenith Bank Plc as agreed to and undertaken in the Block Funds/Irrevocable Standing Order.