SIDI DAUDA BAGE, J.C.A. (Delivering the Leading Judgment):?This is an appeal from the ruling of the Investment and Securities Tribunal sitting at Lagos delivered on 27th July, 2011 where in the said Tribunal granted garnishee order absolute following an application dated 16th May, 2011 at the Tribunal by the judgment Creditor/Respondent, 1st Respondent.
The summary of the facts of this case is as follows:
The first Respondent by an Ex-parte motion dated 16th May, 2011 sought a garnishee order nisi attaching all the funds, shares and stocks standing to the creditor of the judgment Debtor/Respondent ("the 2nd?Respondent") with the garnishee ("the Appellant") for the purpose of satisfying the judgment entered in favour of the first Respondent on 3rd May, 2011. The Appellant herein in the Tribunal below field an affidavit dated 8th June, 2011 to show cause why such funds, stocks and/or shares if any, should not be attached. The 1st Respondent herein filed a counter affidavit with exhibits d…