FEDERAL MORTGAGE BANK OF NIGERIA V. SAVANNAH SECURITIES LIMITED & ORS.

OGUNTADE, J.C.A (Delivering the Lead Ruling): On 13th October, 1998, Rhodes- Vivour J. sitting at the Lagos High Court made an order directing the garnishee/applicant, the Federal Mortgage Bank of Nigeria to pay the sum of N8,215.322.50 to the judgment creditor/respondent, Savannah Securities Limited. The applicant was dissatisfied with the order and wishes to appeal against it. It should have brought the appeal within three months after the order was given. For the reasons which will be shortly considered in this ruling, it did not.

On 29/6/99, it brought this application for (a) Extension of time within which to seek leave to appeal against the order. (b) Leave to appeal (c) Extension of time to appeal and (d) Stay of execution of the order pending the determination of the appeal against it. In the course of hearing the application, Mrs. V. Alonge, of counsel for the applicant rightly indicated that she was not pursuing prayer (d) for stay of execution. The applicant filed a 23-para…