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MR. NOAH OCHEDI & ORS v. CENTRAL BANK OF NIGERIA & ORS

(2018) JELR 38576 (CA)

Court of Appeal  •  CA/L/1025/2014  •  12 Jul 2018  •  Nigeria

Coram
MOHAMMED LAWAL GARBA JCA; ABIMBOLA OSARUGUE OBASEKI-ADEJUMO JCA; JAMILU YAMMAMA TUKUR JCA;

Judgement

MOHAMMED LAWAL GARBA, JCA (Delivering the Leading Judgment): For themselves and on behalf of other investors/depositors in a scheme designed by Wealth Zone Limited, the Appellants, by way of originating summons dated 8th March, 2013, had submitted questions for determination by the Federal High Court, Lagos (Lower Court) and sought reliefs against the Respondents. The questions and the reliefs sought are as follows: -

(1) Whether the 1st - 6th Respondents are by law entitled to hold on to the investments/deposits of the Applicants for over 5 years without a legal right/reason and/or disclosing the state of the investments to the Applicants?

(2) Whether the withholding of the investments/deposits of the Appellants, appropriating same now in excess of 5 (five) years by the 1st - 6th Respondents, does not amount to the breach of the fundamental rights of the Applicants guaranteed under the Constitution of the Federal Republic of Nigeria 1999 (as amended), the African Charter on Human and P…

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