PETER OLABISI IGE, J.C.A.(Delivering the Leading Judgment): This is an appeal against the decision of the Imo State High Court contained in the Ruling of Honourable Justice A. O. H. UKACHUKWU delivered on 22nd day of November, 2007.
The Respondents who were Plaintiffs/Judgment Creditors at the Lower Court got judgment in the sum of N20,020,247.80 (Twenty Million, Twenty Thousand, Two Hundred and Forty Seven Thousand, Eighty Kobo), against the Defendants in the suit viz:
(a) CHAIRMAN, OWERRI MUNICIPAL COUNCIL and
(b) OWERRI MUNICIPAL COUNCIL.
In their bid to enforce the judgment given in their favour the Respondents initiated garnishee proceedings against three Banks namely:
1. OCEANIC BANK INT. (NIG) LTD.
2. ZENITH BANK PLC and
3. UNITED BANK FOR AFRICA PLC who is now the Appellant in this appeal.
Order Nisi was made in favour of the Respondents on 26th day of February, 2007 attaching the accounts of the Defendants/Judgment Debtors in the said Banks. After the consideration of the Aff…