Facts:

This is an appeal against the judgment of the Court of Appeal sitting in Lagos, delivered on the 5th of June 2012.

The respondents as plaintiffs, via a Writ of Summons sued the appellant as a defendant, at the Federal High Court, holden at Lagos Division for the enforcement of a net profit interest which they claimed that they were entitled to from the appellant, and also for accrued earnings arising from the said profit. The Respondents contended that the appellant had the obligation to enter into an agreement to pay them the said net profit interest from oil produced from its oil block, just as their counterpart had done, that the appellant had represented to them that it would enter in to such agreement with them and that it was this representation that made it provide its brokerage services to the benefit of the appellant and influenced the allocation of oil blocks by the Ministry of Petroleum to it.

The Appellant in its defense denied all the claims as put forth by the respondents through its Statement of Claim on the ground that it was not part of the agreed consideration for respondent’s service to it and refused to execute a written agreement between it and the respondents to pay 1.5% net profit interest to it, stating that such payment is not commercially and ethically justifiable as it is a nationally owned company.

Pleadings were exchanged and the trial judge gave judgment and made orders in favour of the Respondent.

The Appellant being aggrieved, appealed to the Court of Appeal, seeking to set aside the judgement of the trial court. The Court of Appeal affirmed the Judgment of the Trial Court, and the Appellant still not satisfied with the Judgment of the Court of Appeal, further appealed to the Supreme Court.