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COWRIE BUSINESS SOLUTIONS LIMITED
V.
NDIC & ANOR

(2025) JELR 114909 (SC)

Supreme Court 10 Feb 2025 Nigeria
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- The dispute arose after the Central Bank of Nigeria revoked the banking license of Fortune International Bank Plc in 2006, appointing the Nigeria Deposit Insurance Corporation (NDIC) as provisional liquidator; at issue were the rights ove

Case Details

Suit Number:SC/CV/552/2024
Judges:IBRAHIM MOHAMMED MUSA SAULAWA, J.S.C. JUMMAI HANNATU SANKEY, J.S.C. MOORE ASEIMO ABRAHAM ADUMEIN, J.S.C. FESTUS OBANDE OGBUINYA, J.S.C. ABUBAKAR SADIQ UMAR, J.S.C.
Counsel:Ikem Isiekwena, Esq. (with him, Paul Ordam, Esq. and Rosecarmel Odeh, Esq. [Miss]) for the Appellant/Respondent. Chief Emeka Ngige, SAN (with him, Onyeka Obiajulu, Esq. and Chiamaka Nwanosike, Esq.) for the 1st Respondent/Applicant. Kolade Obafemi, SAN (with him, D.M. Idoko, Esq.) for the 2nd Respondent.

JUMMAI HANNATU SANKEY, J.S.C. (Delivering The Leading Ruling): This ruling is in respect of an application filed by the 1st respondent/applicant herein, to wit: Nigeria Deposit Insurance Corporation (provisional liquidator of Fortune International Bank in liquidation). She is also a respondent in the substantive appeal filed in this court by the appellant, Cowrie Business Solutions Ltd. The appeal is against the judgment of the Court of Appeal, Lagos Judicial Division delivered on 24/06/2024 wherein the court below granted the applicant’s notice of discontinuance of her pending appeal against the appellant who was a respondent therein alongside Union Bank Plc.

The applicant now seeks the following reliefs in this court:

  1. An order dismissing or striking out the appeal herein - Suit No. SC/CV/552/2024 - Cowrie Business Solutions Ltd v. Nigerian Deposit Insurance Corporation & Anor for abuse of process of court;

  2. Alternatively, an order striking out the appeal for lack of diligent prosecution…

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