DARLINGTON
V.
POLARIS BANK LTD & ORS

MUHAMMAD IBRAHIM SIRAJO, J.C.A. (Delivering the Leading Judgment)

This appeal is against the ruling of the Federal High Court, Lagos, delivered on 06/12/2006, wherein Justice I.N. Auta refused to grant the Appellant’s motion for interlocutory injunction. The background facts leading to this appeal are that the Appellant, who was the Managing Director and Chief Executive Officer of the defunct Bond Bank Plc, was dismissed on 05/11/2005 on allegations of financial improprieties involving misappropriation of funds, gross misconduct and particularly, receiving, concealing and converting the sum of One Billion, One Hundred and Sixty-nine million Naira (N1,169,000,000.00) deposited by one Gbenga Ajala, which funds were allegedly pertained to the funds embezzled by Mr. Tafa Balogun, an erstwhile Inspector General of the Nigeria Police Force. He was dismissed barely three years into his ten-year contractual agreement with the defunct Bond Bank. The Appellant, as Claimant, challenged his dismis…