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Usi Enterprises Limited v. Kogi State Government & 2 Ors
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1 × ₦300
₦300
In Stock
Facts:
The 3rd defendant was granted a credit facility by the 2nd defendant (whilst it was Oceanic Bank Plc) to purchase properties in Ikeja, Lagos. The 1st respondent as part of its statutory functions acquired the 2nd defendant’s non-performing loans which included the facility granted to the third defendant. The 3rd defendant agreed to sell the properties in order to repay the debt. After the sale was concluded, the claimant who alleged that he acted as agent to the parties in negotiating the sale of the properties and that, in line with the customary practice in property transactions, he was entitled to 5% of the sale price of the properties.
The defendants did not pay the fees and the claimant filed an action at the High Court of Lagos State seeking an order directing the defendants to pay the agency fee together with interest.