Nathaniel Adedamola Babalola Kotoye V. Central Bank Of Nigeria & Ors (1989)

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This appeal involves a question which has raised some serious furor in recent times, to wit: The question of ex parte orders of injunction. It touches an area of law which, in spite of numerous appellate decisions, appears to have been quite often misunderstood and misapplied by some courts of trial. Recent instances show that there is an urgent need to state the law.

The facts leading to the appeal are important for a full appreciation of the legal problems involved. Certain allegations of mismanagement by the third Defendant, Societe General Bank (Nigeria) Limited, came to the notice of the Central Bank of Nigeria. After investigating the allegations and taking instructions from the Federal Ministry of Finance, the Central Bank issued to the Chairman of the Bank, Mr. N. A. B. Kotoye, a written directive which because of its bearing in this appeal, I hereby set out in full. It runs thus:

“Central Bank of Nigeria

P.M.B.12194,

Tinubu Square,

Lagos.

The Deputy Governor

Our Ref: DG/COMBANKS/Vol.I/359

Tel. 661283/660100/104

14th April, 1987

Mr. N. A. B. Kotoye,

Chairman,

Society General Bank (Nigeria) Ltd.,

13 Martins Street,