and set a date for judgment as defendants had clearly exhibited an intention
not to proceed with the matter.
PLAINTIFE’S WRITTEN ADDRESS
25. Plaintiff stated that sometime in April/May 2007, the defendants entered
into an agreement to supply 5 million litres of AGO to Shell Petroleum
Development Company (SPDC). Defendants however did not have the AGO
so they approached plaintiff who supplied the AGO to Shell on the
agreement that defendants would pay plaintiff when they are paid by Shell.
The agreed sum to be paid to plaintiff was 485 Million Naira.
26. However, when defendants were paid by Shell, they refused to pay the
plaintiff. After repeated demands, defendants only paid 230 Million Naira
leaving an outstanding balance of 255 Million Naira. The parties
subsequently met in April 2008 and executed an agreement (Exhibit Al) by
which defendants had three months to settle their indebtedness to plaintiff,
and issued a post dated cheque for the entire amount. However, upon
presentation of the cheque (ExhibitA2) it was dishonoured as defendants did
not have enough money in their account. A letter was then written to second
defendant to inform him of the dishonoured cheque and for him to make
good his guarantee to pay the sum if first defendant failed to pay. About
three months later, plaintiff instituted this suit.
27. Plaintiff continues that it established its case by calling four witnesses
who substantiated the allegations it made in its pleadings and therefore
judgment should be entered in its favour. Plaintiff further stated that it is
entitled to the principal and the interest pleaded and particularized in its
amended statement of claim. Plaintiff says it is entitled to the principal
amount of 255 Million Naira as indicated by Exhibits Al and A2 as well as
interest at 25% on the principal as computed by PW2 as of 31/07/2010,
which amounts to 278,53 1,325.32 Million Naira.
28. Further, plaintiff says it is entitled to Solicitor’s and Accountant’s fee as
the parties expressly agreed in their agreement (Exhibit Al) that the cost
incurred by the creditors (plaintiff herein) would be borne by the defendants.
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