Facts:

At the trial, before the Federal High Court, Lagos, the appellants as plaintiffs claimed against the respondents jointly and severally:-

“………..the sum of N2,839,000.00 being the equivalent of $33,314.00 calculated at the autonomous rate of N85.00 per dollar, being the amount owed the plaintiff by the defendants as at 22nd March 1993 in that the defendants failed or neglected to effect payment in full for auto gas oil supplied by the plaintiff and/or his agent to the defendants vessel (M/V Seafriend and Victory Reefer) at the defendants request.

……………interest on the said amount at the regulated rate of 21% monthly from 1st April 1993 till judgment and thereafter at the same rate until the final liquidation of the entire sum with costs”.