ECO BANK NIGERIA LIMITED V. TEAK NATURALE INVESTMENT LIMITED & ORS

MONICA BOLNAAN DONGBAN-MENSEM, JCA (Delivering the Leading Judgment): This appeal is against the decision of the High Court of Ogun State delivered by Hon. Justice O. S. Olusanya on the 2nd day of April, 2012.

Aggrieved by a garnishee order absolute made against the Appellant as the 8th garnishee in fulfillment of a Judgment debt, this appeal seeks a reversal of the said order by way of vacation of same.

The Appellant sought a reversal of the garnishee order on the grounds that the judgment debtor did not have enough fund in its possession to liquidate the judgment sum as ordered by the Court. The Court declined jurisdiction to entertain the application stating that it has become functus officio. The Appellant has submitted the following issues as arising for determination:

"1. Whether or not the trial Court was right in refusing to exercise its equitable jurisdiction in favour of the 8th garnishee Bank\Appellant to discharge/vacate its order of 16/05/2011 in its ruling of 2nd April 2012…