(2003) JELR 44822 (CA)    

Court of Appeal  ·  CA/I/249/01 ·  2 Jun 2003 ·  Nigeria
Other Citations
Akana v. F.B.N. Plc. [2004] 8 NWLR (Pt.875)318
Akano v. F.B.N. Plc. (2004) 8 NWLR (Pt. 875) 318
SAKA ADEYEMI IBIYEYE Justice of The Court of Appeal of Nigeria VICTOR AIMEPOMO OYELEYE OMAGE Justice of The Court of Appeal of Nigeria FRANCIS FEDODE TABAI Justice of The Court of Appeal of Nigeria
Core Terms Beta
legal mortgage
grounds of appeal
learned trial judge
1st plaintiff
hearing of the appeal
mortgage deed
first bank of nigeria plc
land registry
mortgage agreement
public auction
additional grounds of appeal
building property
documentary evidence
leading judgment
particular regard
predecessor of the appellant
said house
alleged auction sale
alleged power of sale
appellant abandoned grounds
auctioneers law
background facts of this appeal
brief of the 2nd respondent
comprehension of the issues
constitutional provision
evidence act
first plaintiff
following issues
high court oyo state
issues viz
land instrument registration law
late nurudeen akano
leave of the court of appeal
notice of preliminary objections
order of court
possession of the sold property
present named appellant
property of the house
provisions of the rule of the court
purchase of the said house
respondent fails
said purchaser
subject matter of the appeal
sufficient evidence
virtue of a deed of legal mortgage
waiver of a right

VICTOR AIMEPOMO OYELEYE OMAGE, J.C.A. (Delivering the Leading Judgment): This is the background facts of this appeal. The predecessor of the appellant in the court below was the defendant at the hearing which held at the High Court Oyo State, it held in Ibadan in 1998. The present named appellant was substituted by the order of court on 5/2/2002. The predecessor of the appellant was the late Nurudeen Akano. Akano entered into a mortgage agreement with the First Bank of Nigeria Plc. By the mortgage deed, he was advanced the sum of N19,560.00 as a loan. The mortgage agreement is registered as No.36, at page 36 in Volume 2775 in the Land Registry, Ibadan, dated 12th October, 1987.

By or around 1995, the appellant as defendant in the court below had not repaid his debt to the bank, whereupon the bank sold the building property at No.E9/2066 Kumapayi Avenue, Ibadan to one Yetunde Olunloyo. The said house was the collateral for the loan granted by the First Bank to Akano. After the purchase…

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