CHIDI NWAOMA UWA, J.S.C. (Delivering the Lead Judgment): This appeal is against the judgment of the Court of Appeal, Lagos Judicial Division (hereinafter referred to as “the lower Court”), delivered on the 10th day. of July, 2008, in Appeal No: CA/L/170/2004, wherein the lower Court set aside the decision of the Federal High Court (hereinafter referred to as “the trial Court”) delivered on the 20th day of April, 2004, in Suit No. FHC/L/CS/151/04, and referred the matter to the Chief Judge for re- assignment to another Judge to hear and-determine the suit on the merits.
The facts which led to this appeal are that the Chief Executive Officer (CEO) of the 1st Respondent claimed that on the 29th day of January, 2004, the Appellant, who was a director and “sole-signatory” to the 1st Respondent’s account, allegedly transferred to her personal account, the sum of N119,660,000.00 (One Hundred and Nineteen Million, Six Hundred and Sixty Thousand Naira, only) from the 1st Respondent’s account. T…