Central Bank Of Nigeria Vs Saidu H. Ahmed & Ors (2001)

LAWGLOBAL HUB Lead Judgment Report

EJIWUNMI, J.S.C.

By a motion on notice dated 12th January 2001, brought pursuant to Order 2 rule 31, Order 6 rule 2 and Order 8 rule 12 of the Supreme Court Rules (as amended) and section 233 (3) of the 1999 Constitution of the Federal Republic of Nigeria, the applicant, namely, the Central Bank of Nigeria, is praying for the following orders:

(1) An order granting extension of time to seek leave to appeal against the decision of the Court of Appeal (Lagos Division) dated 11th December, 2000 in Appeal No. CA/L/178/2000.

(2) An order granting leave to the applicant to appeal against the decision of the Court of Appeal (Lagos Division) dated 11th December, 2000 in Appeal No. CA/L/178/2000.

(3) An order extending time within which the applicant can file its notice of appeal against the decision of the Court of Appeal dated 11th December 2000 in Appeal No. CA/L/178/2000.

(4) An order of interlocutory injunction restraining the respondents by themselves or through their servants, agents, privies whomsoever from enforcing the judgment of the Federal High Court howsoever in Suit No. FHC/L/CS/1306/95 pending the determination of this Appeal.

(5) And for such further or other orders as the Honourable Court may deem fit to make in the circumstances.

In support of the application a 16 paragraph affidavit was filed and deposed to by one Olatubosun Kojogbola, male, who described himself as a litigation clerk in the Chambers of Abdullahi Ibrahim & Co., counsel to the applicant. In view of the nature of this application, particularly as the respondents have filed a preliminary objection against the consideration of the application on its merit, it is, in my respectful view, necessary to give some background facts that led to the filing of this application.

It would appear from the records attached to this application that the respondents to this application namely, (1) Saidu Ahmed (2) Leading Leather Products Ltd. and (3) Said tall Shoes Ltd. by their amended Statement of Claim, dated 11th December 1996, commenced action against the applicant, namely, the Central Bank of Nigeria, for the following reliefs:

“SPECIAL DAMAGES:

(i) A refund of the balance of $109,852.0 1, being the unutilized transaction commission held for plaintiff’s account by the defendant.

(ii) Interest on the said sum of$109,852.01 at the rate of 21% per annum with effect from September 30th, 1991 till final judgment.

GENERAL DAMAGES:

(i) $1,000,000 (One million dollars only) for deprivation suffered, loss of leverage and loss of profits the plaintiffs would have earned on the $109,852.01 unlawfully held from him by the defendant, and financial embarrassment (sic) and dislocations in business suffered by the plaintiffs.