CASE TITLE: OPI INT’L (NIG) LTD & ORS v. FBN LTD (2022) LPELR-59129(CA)
JUDGMENT DATE: 13TH DECEMBER, 2022
PRACTICE AREA: COURT
LEAD JUDGMENT: MUHAMMAD IBRAHIM SIRAJO, J.C.A.
SUMMARY OF JUDGMENT:
INTRODUCTION:
This is a ruling on an application seeking for an order to deposit a judgment debt with the Chief Registrar of the Court of Appeal.
FACTS:
By way of writ of summons on the undefended list before C.J. Aneke, J., of the Federal High Court, Lagos, the Applicant who was the Plaintiff, claimed various sums of money against the Respondents as the Defendants. The Respondents contested the claim by filing a notice of intention to defend the action.
In a considered ruling delivered on 30th September, 2021, the trial Court transferred some reliefs claimed, to the general cause list for hearing and entered judgment in favour of the Applicant in terms of the other reliefs. Against that part of the Ruling/Judgment, the Respondents filed an appeal at the Court of Appeal on 4th October, 2021 and followed it the next day (5th October, 2021) with a motion for stay of execution.
Following the chain of these events, the Applicant filed the instant application at the Court of Appeal praying for an order of the Court compelling the Respondents to deposit the judgment sum in this case in the sum of $9,219,649.80 (Nine Million, Two Hundred and Nineteen Thousand, Six Hundred and Forty-Nine Dollars, Eighty Cents) and N926,284,980 (Nine Hundred and Twenty-Six Million, Two Hundred and Eighty-Four Thousand, Nine Hundred and Eighty Naira) with the Chief Registrar of the Court who in turn will deposit same in an interest yielding account of the Court in any reputable bank pending the determination of the appeal filed by the Respondents and for such further order(s) as the Court may deem fit to make in the circumstances.
The application was supported with an affidavit of 7 paragraphs and a written address.
In response, the Respondents filed a counter affidavit of 7 paragraphs and written address, opposing the application.
ISSUES:
The Court considered the application on the sole issue thus:
“Whether the Appellants ought to be ordered to deposit the judgment sum with the Chief Registrar of the Court of Appeal.?”
DECISION/HELD:
On the whole, the application was granted.
RATIOS:
- JUDGMENT AND ORDER – JUDGMENT DEBT – Whether the Court of Appeal can order the payment of judgment debt into an interest yielding account in the name of the Chief Registrar of the Court
- JUDGMENT AND ORDER – JUDGMENT OF COURT – When does a judgment of court to pay money take effect
- JUDGMENT AND ORDER – STAY OF EXECUTION OF JUDGMENT – Whether execution of monetary judgment can be stayed
- JUDGMENT AND ORDER – STAY OF EXECUTION OF JUDGMENT – Whether an appeal can operate as a stay of execution
- JUDGMENT AND ORDER – STAY OF EXECUTION OF JUDGMENT – Ground for stay of execution in a monetary judgment
