Facts:

The respondent filed a suit at the Federal High Court, Lagos Division against the appellant alleging defamation as a result of a publication by the appellant. The appellant had, in the said publication, made comments to the effect that the respondent must have monetarily induced one Peter Igbinedion for him to have granted a lease of fifty (50) years to the respondent in order for it to be able to undertake a hotel building project pursuant to the lease. The respondent alleged that the said publication was defamatory and reduced its standing in society as a reputable engineering company. The respondent also alleged that the publication was reckless as it was made based on mere suspicion and not based on any verified sources.
The parties filed their pleadings and the matter went to trial. After hearing the parties, the trial judge awarded damages in favour of the respondent to the tune of One Hundred and Sixty Million Naira (N160,000.000.00) and a penalty of One Hundred and Sixty Thousand Naira (N160,000.00) was also imposed for every thirty (30) days in the event of failure to retract the libel, within four (4) weeks of the service of the judgment/Enrolled Order on the Appellant.
The appellant was dissatisfied with the decision of the trial court and consequently, filed a notice of appeal at the Court of Appeal, Lagos Division. The appellant wanted the Court of Appeal to determine whether or not the words used were defamatory of, or injurious to the reputation of the respondent in the way of its business. In the event that the words were defamatory, the appellant wanted the court to determine whether or not the damages granted by the trial judge was not excessive thereby inviting the court to intervene and interfere with the quantum of damages awarded by the trial court in favour of the respondent.
The parties filed their briefs and the respondent also filed a motion on notice challenging the competence of some of the grounds of appeal and their particulars.