This appeal arose from an action filed by the Appellant against the Respondent. The parties had entered into an agreement whereby the Appellant advanced by way a commercial paper facility the sum of N120m to the Respondent's company for 90 days only subject to an interest payable on the commercial paper. The facility was completely drawn. The security for the facility was a house, property of the Respondent situate at 24A Campbell Street, Lagos, and the parties covenanted mat the documents shall be deposited with the Appellant. At the expiration of 90 days, the money so invested was not paid back and worse still, the Respondent caused the sum to be rolled over without the express consent or permission of the Appellant. When the Appellant made several demands for the repayment of the facility and the interest due, and the Respondent refused or failed to pay, the Appellant was forced to institute an action in the Federal High Court. The Respondent raised a preliminary objection on the ground that the Federal High Court has no jurisdiction to entertain the case. The objection succeeded and the Federal High Court transferred the case to the Lagos High Court pursuant to Section 22(2) of the Federal High Court Act which now seised of the matter proceeded with the case the Respondent once again raised a preliminary objection on the ground that the Lagos High Court cannot entertain the action as it lacks the requisite jurisdiction. This objection was refused, and dismissed. Piqued by the ruling of the High Court, the Respondent filed a notice of appeal. The Court of Appeal allowed the appeal and held that the Lagos High Court lacked the jurisdiction to adjudicate on the matter. The Appellant as a losing party in the Court of Appeal appealed to the Supreme Court