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FIRST CITY MONUMENT BANK V. ABDUL GAFARU & CO. LTD. & ORS

(2025) JELR 114968 (SC)

Supreme Court  •  SC.356/2019  •  12 Dec 2025  •  Nigeria

Coram
JOHN INYANG OKORO, J.S.C. HELEN MORONKEJI OGUNWUMIJU, J.S.C. OBANDE FESTUS OGBUINYA, J.S.C. STEPHEN JONAH ADAH, J.S.C. ABUBAKAR SADIQ UMAR, J.S.C.

Appearances
Ogunmuyiwa Balogun, Esq. (with him, Babatunde Ige, Esq.; Amazing Ikpala, Esq. and Omonye Egboja, Esq.) for the Appellant. Wale Balogun, SAN (with him, Ajibade Dada, Esq.; Olajide Olaleye Kumuyi, Esq.; Favour Otuneye, Esq. and Joy Okenwa, Esq.) for the Respondent.

Judgement

STEPHEN JONAH ADAH, J.S.C. (Delivering the Leading Judgment): This appeal is against the decision of the Court of Appeal, Makurdi Judicial Division in Appeal No: CA/MK/73/2012, delivered on the 13th day of February, 2017.

The facts of this case from the records are a bit complex. The outline of the facts goes thus.

The 1st respondent had an arbitration with the Federal Government of Nigeria and won. She then became an arbitral award creditor. In a bid to enforce the arbitral award, the respondents initiated garnishee proceedings against the Federal Government of Nigeria at the Federal High Court, Abuja, in Suit No: FHC/ABJ/ARB/1/08. The Federal High Court subsequently made a garnishee order absolute against the monies of the Federal Government of Nigeria held in the consolidated Revenue Fund of the Federation in the custody of the Central Bank of Nigeria (CBN), for the satisfaction of the judgment debt.

Following the garnishee order absolute, the Central Bank of Nigeria (CBN), on 29th Oc…

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