AMINA ADAMU AUGIE, J.C.A. (Delivering the leading Judgment): This appeal turns on a garnishee proceeding initiated against 2nd Respondent at the Federal High Court. However, the initial Suit that led to the proceedings is Suit No. LD/1477/2005 at the Lagos State High Court between First Atlantic Bank Plc. v. Sormatt Ventures Ltd. and Mrs. Olowokere Olusade Adebowale for a loan facility granted to the 1st Defendant and guaranteed by 2nd Defendant. The Lagos State High Court entered Judgment in favour of First Atlantic Bank for the sum of N10,078,287.78. The 1st Respondent later initiated a Garnishee Proceeding against the Appellants and 4 other banks. The High Court granted a Garnishee Order Nisi on 25/9/2006 against them. The other banks filed their respective affidavits to show cause and were discharged from the garnishee proceedings on 29/10/2007. On that same day, an order absolute was entered against the Appellants and they were ordered to pay the said Judgment debt.
On 9/11/2007, …