PROMA LTD & MR. AKINTUNDE AKINOLA V. ASSET MANAGEMENT CORPORATION OF NIGERIA

YARGATA BYENCHIT NIMPAR, J.C.A. (Delivering the Lead Judgment): This is an appeal against the ruling of the Federal High Court, State sitting at the Lagos Judicial Division and delivered by HON. JUSTICE C. J. ANEKE on the 20th day of May, 2020 in Suit No: FHC/L/CS/662/2019, wherein the Court below dismissed the Appellant’s preliminary objection challenging the jurisdiction of the Court to entertain the suit on the ground that the action is statute barred. Dissatisfied with the decision, the Appellants filed a Notice of Appeal on the 1st of June, 2020, setting out three (3) grounds of appeal. The record of appeal was transmitted on the 9th of June, 2020.

The facts birthing this appeal can be summarized thusly. The Respondent (Plaintiff at the Court below) instituted the suit via a Writ of Summons on the 21st of June, 2019 against the Appellants (Defendants at the Court below) claiming as follows:

1. “A DECLARATION that the Defendants are jointly and severally indebted to the Plaintiff in…