Facts:

Sometime in 2012, the appellant as customer to the respondent obtained a local purchasing order finance facility of N39,200,000.00 (Thirty Nine Million, Two Hundred Thousand Naira). As security for the facility granted, the appellant submitted original title documents of its property to the respondent.

The appellant defaulted in repaying the facility despite repeated demands from the respondent. Aggrieved, the respondent instituted an action against the appellant at the lower court where it sought for some reliefs. Additionally, it also filed an application for summary judgment to be given on the ground of appellant’s admission of indebtedness. In response the appellant filed its defence and a counter-affidavit to the application for summary judgment. In a considered decision, the lower Court granted the respondent’s application for summary judgment based on voluntary admission by the appellant.

Dissatisfied with the decision of the lower Court, the appellant appealed to the Court of Appeal.