OBANDE FESTUS OGBUINYA, J.C.A. (Delivering the Lead Ruling): By a motion on notice dated and filed on 23/10/2012, the appellants/applicants prayed this court for:
1. AN ORDER of this Honourable Court joining NIGERIA DEPOSIT INSURANCE CORPORATION (NDIC) and CENTRAL BANK OF NIGERIA as the Co-Respondents in this appeal.
2. AND FOR SUCH FURTHER ORDER(S) as this Honourable Court may deem fit to make in the circumstances.
GROUNDS OF THE APPLICATION
1. The transaction that led to this appeal took place sometimes in 1996 when the then TRADE BANK PLC was still in existence.
2. Due to the restructuring and consolidation of finance house introduced by the Central Bank of Nigeria, Nigeria Deposit and Insurance Commission was appointed by the order of court to liquidate the asset of TRADE BANK PLC.
3. UNITED BANK FOR AFRICA, PLC who acquired part of the asset of the TRADE BANK PLC was initially substituted for Trade bank as Respondent in this appeal by the order of this Honourable Court made on th…