INTRODUCTION
On the 18th of January 2022, we allowed the appeal in this matter and reserved our reasons to be filed within 21 days. We proceed now to give the reasons for our decision.
The significance of this appeal lies in the determination of the legal effect of payment of a judgment debt into court. Does the payment of a debt or judgment debt into court discharge the payer or judgment debtor from all further liabilities under the judgment to the payee or judgment creditor? The appellant says it does while the respondent says it does not. Though, what is before us is an interlocutory appeal arising from the refusal of the Court of Appeal to grant a suspension of the entry of judgment/or stay of proceedings of execution pending appeal, we are of the opinion that to avoid multiplicity of suits and save the parties from further expense and time in unnecessary and unwarranted litigation, this post-judgment interlocutory matter must be determined by us exercising our powers…