RULING

MENSAH JSC:

My Lords, before us for our consideration, is an application filed by the defendant/applicant herein, for an order:

i) setting aside the plaintiff/respondent/respondent’s entry of judgment filed 17/06/2025; and

ii) for a further order staying execution of the judgment of the court, upon grounds set out in the supporting affidavit.

The thrust of the defendant/applicant’s application is simply that this court delivered its judgment in the case on 22/02/2023. In the said judgment, the court made an award in damages for the sum of One Million Ghana Cedis (Ghc1,000,000.00) in favour of the plaintiff/respondent herein. Additionally, the court ordered the defendant/applicant to refund to the plaintiff/ respondent, the sums of Ghc450.000.00 and Ghc216,000.00 respectively, being investment made in the defendant/applicant. It is the case of the defendant/applicant that the plaintiff/respondent has served it with an entry of judgment in which plaintiff/respondent applied an interest of 35% per annum from January 2011 on the investment. The defendant/applicant complains that the plaintiff/respondent in an attempt to unjustly enriching itself, did apply an interest rate of 35% instead of the applicable commercial rate of 27.63% as published on the Bank of Ghana website.

On account of the plaintiff/applicant misapplying the inappropriate rate, the defendant/applicant avers that it would be compelled to make additional payment of over Ghc1,707,170.00 as interest on the amounts stated supra. Consequently, the defendant/applicant invites the court to set aside the entry of judgment and to further order stay of execution of the judgment based on the erroneous entry of judgment.

The plaintiff/respondent vehemently opposes the application.

In an affidavit in opposition, the plaintiff/respondent has averred, inter alia, that in calculating the interest accrued, it used the commercial bank interest as of February 2023, the date the Supreme Court delivered its judgment. In paragraph 9 of the affidavit in opposition, it was therein averred that the plaintiff/respondent magnanimously used 35% instead of the rate of 36.64% prevailing at the time. To buttress the averment, the plaintiff/respondent attached a copy of the commercial rate as of February 2023 on the Bank of Ghana website, marked Exhibit JB 1.

It was further averred in the opposing affidavit that the amount endorsed on the entry