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FIRST BANK OF NIGERIA PLC & ANOR v. FIRST CITY MONUMENT BANK PLC & ANOR

(2013) JELR 35423 (CA)

Court of Appeal  •  CA/L/371/2008  •  19 Dec 2013  •  Nigeria

Coram
AMINA ADAMU AUGIE JCA; RITA NOSAKHARE PEMU JCA; SAMUEL CHUKWUDUMEBI OSEJI JCA;

Judgement
<p>AMINA ADAMU AUGIE,J.C.A. (Delivering the leading : ): This appeal turns on a garnishee proceeding initiated against 2nd Respondent at the Federal High Court. However, the initial Suit that led to the proceedings is Suit No. LD/1477/2005 at the Lagos State High Court between First Atlantic Bank Plc. v. Sormatt Ventures Ltd. and Mrs. Olowokere Olusade Adebowale for a loan facility granted to the 1st Defendant and guaranteed by 2nd Defendant. The Lagos State High Court entered : in favour of First Atlantic Bank for the sum of N10,078,287.78. The 1st Respondent later initiated a Garnishee Proceeding against the Appellants and 4 other banks. The High Court granted a Garnishee Order Nisi on 25/9/2006 against them. The other banks filed their respective affidavits to show cause and were discharged from the garnishee proceedings on 29/10/2007. On that same day, an order absolute was entered against the Appellants and they were ordered to pay the said : debt.</p><p> On 9/11/2007, …</p>

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