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STANDARD PRINTING & PUBLISHING COMPANY LIMITED V. NIGERIA-ARAB BANK LIMITED (APPOINTED BY NIGERIAL DEPOSIT INSURANCE CORPORATION) OLUSEGUN ODUBOGUN (RECEIVER-MANAGER)

(2001) JELR 53451 (CA)

Court of Appeal  •  CA/K/68/2000  •  6 Jun 2001  •  Nigeria

Coram
ISA AYO SALAMI, JCA (Presided and Read the Lead Judgment) MAHMUD MOHAMMED, JCA VICTOR AIMEPOMO OYELEYE OMAGE, JCA

Judgement

SALAMI, JCA (Delivering the Lead Judgment): This appeal covers a very narrow compass. But to appreciate the narrow issue it tossed up a lengthy background account has to be stated. This is an appeal against the decision of the Failed Banks (Recovery of Debts) and Financial Malpractices in Banks Tribunal. The Nigeria-Arab Bank Limited (appointed by Nigeria Deposit Insurance Corporation) pursuant to section 11 of the Failed Banks (Recovery of Debts) and Financial Malpractices in Banks Decree, 1994 applied to the Tribunal for the recovery of debts owed to it from Standard Printing and Publishing Company and one Olusegun Odubogun by way of originating summons. On the return day, 29th May 1997, the applicant made no appearance. Mr. Dangiri of counsel, appeared for the second respondent who had been appointed receiver to first respondent by the applicant. Mr. Dangiri informed the court on that day that the first respondent had not been served and asked for and was granted adjournment to 2…

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