ALHAJI TAJUDEEN ADEWALEADELEKAN MR. AKINLADE OREDIPE MR. OLALEYE PAUL MR. YAKUBU SALAMI MR. OSENI OWOLABI MR. A.O. ADELEKE MR. Y.B. OMOKAIYE MR. ISMAILAALOBA MR. ADEWALE GBOYEGA MR. LASISI ODUSOLA MR. K.A. OLUYOMBO MR. S.O. AROWOLO BURAIMOH FALOBI MR. L. ONIPEDE MR. AREMU AKINYEMI MR. MOBOLADE YEMABO MR. AKINWALE LAWSON MR. ADEWOLE OGUNSOLA MR. SAMUELADEMOLA MR. K.O. OMOLAJA MR. RAMONI AYEDE MR. RASHEED SALAWU MR.NURENI ABIBU MR. BERENI ADIO V. CENTRAL BANK OF NIGERIA (CBN)

AUGIE JCA (Delivering the Lead Judgment): By an originating summons filed on 16 August 2011, the appellantsprayed the Federal High Court for leave to enforce the order made by the Supreme Court on 27 December 1998 in Alao v. A.C.B Ltd (1998) 2 NWLR (Pt. 542) 339, and an order directing that monies kept in the respondent’s custody by virtue of the order be transferred to the beneficiaries of the funds as ordered. In that case, Alao v. A.C.B , the appellant, a citizen of Benin Republic, assisted his Nigerian customers by providing CFA Francs for their children, who were schooling in England. When they eventually obtained foreign exchange approvals, bank drafts were handed overto them by the respondent at its Nigerian headquarters to be drawn in its London branch. These drafts were passed to him in settlement/reimbursement of the sums advanced by him, and he paid them in through his bank in Benin Republic to the respondent’s London branch, which honoured the said bank drafts. He la…