Justice Faji dismissed the contention of the respondent’s counsel who argued that the debt was the subject of another suit marked LD/1798/09.
Similarly, the court discountenanced the respondent’s contention that it is solvent and able to pay its debt. Justice Faji held: “In the instant case, the respondent has not said that it has paid the entire sum due. It has not even shown that it has paid the principal sum of N750,000,000. It has only alleged paying N230,000,000.
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