Facts:

The claimant is a legal practitioner carrying on legal practice under the name and style of Osinaike & Associates of Plot 379E, George Crescent, Agbalajobi Estate, Off Wempco Road, Ogba Industrial Estate, Ogba, Ikeja, Lagos. The defendant is a Limited Liability Company incorporated in Nigeria with its head office at St Nicholas House, 28A, Catholic Mission Street. Lagos. It is the parent company of Legacy and Investment Limited (in Liquidation) a company licenced to carry on business of a Financial Institution in Nigeria. In the course of business, Legacy and Investment Limited granted credit facilities to several companies including SKIV Concept Limited. SKIV Concepts Ltd., failed to liquidate the credit facilities granted to it by Legacy and Investment Ltd., as and when due and its indebtedness as at 16/03/2010 was in the sum of ₦352.979,916.67. The defendant being the parent company of Legacy and Investment Ltd., sought the legal advice of the claimant on how to recover its money from SKIV Concepts Ltd. The claimant submitted to the defendant what he termed “case management strategy” on how to recover the money. The defendant wrote a letter to the claimant dated 19/07/2010 agreeing with his proposal, instructed him to recover the money and agreed to pay him 15% of the recovered sum as professional fees.

The claimant swung into action and instituted an action before the High Court of Lagos State in suit No. ID/1116/2010 – Associated Discount House Limited v. SKIV Concepts Nigeria Limited via a writ of summons and statement of claim. The claimant also filed two motions.

The lower court delivered its ruling on the motion ex parte for an interim order of mareva injunction and granted the said application. On 12/08/2010 SKIV Concepts Ltd instituted an action in suit No. LD/1693/2010 before the High Court of Justice Lagos State against the defendant Legacy Trust and Investment Limited. The defendant again instructed the claimant to enter appearance for her and Legacy Trust and Investment Ltd., sued as the 2nd defendant. The claimant entered appearance and filed a statement of defence on 06/10/2010 on behalf of the 1st and 2nd defendants. On 29/03/2011 counsel to SKIV Concepts Ltd., made an application to the Hon., the Chief Judge of Lagos State for the consolidation of suit No. ID/1116/2010 and suit No. LD/1693/2010. The claimant sensing that it may be a ploy to delay the hearing of the pending application for the sum of N315,135,000.00 to be paid into an interest-yielding account also wrote to the Hon. Chief Judge of Lagos State on 20/04/2011 urging him to transfer Suit No. LD/1693/2010 to the Court of Hon. Justice K.O. Dawodu. The Chief Registrar of the Lagos State Judiciary replied via a letter dated 04/05/2011 advising the claimant to file a motion for consolidation accordingly. He appeared in court on 29/06/2011 and 20/09/2011 for hearing of the application for consolidation of the two suits.

However, on 20/19/2011 the defendant wrote a letter to the claimant disengaging him from further representing it in the suits pending in court. On 22/09/2011 the claimant wrote to the defendant alerting it of the negative antecedents of the huge debt owed by SKlV Concepts Ltd., to the defendant and the fact that the debt is unsecured and the strategy he adopted in obtaining the pre-emptive order of mareva injunction in the High Court for the preservation of the sum of ₦315,135,000.00 which can be attached when judgment is obtained against SKIV Concepts Ltd. He also forwarded his bill of charges for the professional fees and cost in respect of suit No. ID/1116/2010 and LD/1693/2010.

The claimant’s contended that he put in substantial work towards recovery of the debt owed to the defendant by obtaining the order for preservation of the sum of ₦315,135,000.00 via an order of mareva injunction and the time, skill and industry on his part as counsel to defendant in E suits No. ID/1116/2010 and LD/1693/2010 respectively. That he was reasonably certain that he would have recovered the sum of ₦352,979,916.67 together with interest on behalf of the defendant in suit No. ID/1116/10 more so, when he had obtained an order of mareva injunction to secure the sum of ₦315,135,000.00 and he would have been entitled to the full payment of his professional fees in the sum of N52,946,987.51 being 15% of the sum of N352,979.916.67 as contained in the terms of the agreement between him and the defendant.

Upon the conclusion of trial, the learned trial judge in his judgment awarded the sum of ₦750,000.00 in favour of the claimant as his professional fees with 15% interest per annum.

Dissatisfied with the decision of the trial court, the Claimant appealed to the Court of Appeal.