EJEMBI EKO, JSC (Delivering the Lead Ruling): In the suit of Innoson Nigeria Limited, the present Respondent as the plaintiff, at the Federal High Court, Ibadan, the Nigeria Customs Service and the Attorney-General of the Federation were the defendants. In the final judgment delivered on 20th December, 2010, the Federal High Court, in favour of Innoson Nigeria Ltd, ordered the defendants (hereinafter called the judgment debtors) to pay:
"i. Seven Hundred Million, Two Hundred and Twenty Two Thousand Naira (₦700,220.000.00) only
ii. 22% interest on the said sum from the commencement of the action per annum until the date of judgment; and
iii. 22% interest per annum on the said sum from the date of judgment until final liquidation of the judgment sum."
The Appellant herein was one of the 5 banks moneys belonging to the Nigeria Customs Service were traced to. The Nigeria Customs Service was one of the Appellant's Customers. On 2nd March, 2011, the Order Nisi issued by the Federal High Court w…