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KAWU, J.S.C. (Delivering the Leading Judgment): This is an appeal from an interlocutory decision of the Court of Appeal, which arose out of an interlocutory decision of the Federal High Court presided over by Jinadu, J.
Originally there were two separate actions filed in the Federal High Court, Lagos - namely Suit No. FHC/L/M67/91 and FHC/L/M69/91. Both suits were consolidated, and throughout the trial the plaintiffs in Suit No. FHC/L/M67/91 who were also the defendants in Suit No. FHC/L/M69/91, were referred to as "the plaintiffs". Similarly the defendants in Suit No. FHC/L/M68/91 who were also the plaintiffs in Suit No. FHCIL/M69/91 were referred to as "the defendants". I will, in this judgment, simply refer to the appellants as "the plaintiffs" and the respondent as "the defendants".
The main issue is controversy between the two parties was as to the true ownership of the 1st plaintiff bank. While the plaintiffs maintained that the true members of the 1st plaintiff bank were the sh…