Keystone Bank Limited V. Okeb Nigeria Limited & Anor (2016)

LawGlobal-Hub Lead Judgment Report – COURT OF APPEAL

MOHAMMED MUSTAPHA, J.C.A. (Delivering the Leading Judgment)

This is an appeal against the judgment of the High Court of the Federal Capital Territory delivered by Honourable Justice M.M. Dodo on the 8thof March, 2012. The appellant dissatisfied appealed by a notice and grounds of appeal dated the 20th of April, 2012 but filed on the 24th of April, 2012.The grounds shorn of their particulars are:-

GROUND ONE:

The Learned Trial Judge erred in law when he set aside the sale of the filling station mortgage to the Appellant by the 1st Respondent as security for overdraft facilities granted to it by the Appellant.

GROUND TWO

The Learned Trial Judge erred in law when he held that Exhibit D was invalidated by Exhibit B executed between the Appellant and the Respondents.

GROUND THREE:

The Learned Trial Judge erred in law when he came to the conclusion that an unincorporated legal entity cannot be a party to a purchase transaction contrary to Section 72 of the Companies and Allied Matters Act, 2004, dealing with pre-incorporation contracts.

GROUND FOUR:

The Learned Trial Judge erred in law when he held

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the sale transaction between the Appellant and Al Qudus Global Services Limited was a fraud without any proof of same beyond reasonable doubt.

GROUND FIVE:

The Learned Trial Judge erred in law when he awarded the sum of N76,014,800.00 (Seventy Six Million, Fourteen Thousand, Eight Hundred Naira) to the Respondent as general damages for loss of earnings when the said award is inconsistent with the principles of law for the grant of special damages and, therefore, unjustified.