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OHEN & ANOR
V.
IGP & ORS.

(2021) JELR 108742 (CA)    

Court of Appeal  ·  CA/L/417/2017 ·  22 Jul 2021 ·  Nigeria
CORAM
OBANDE FESTUS OGBUINYA, JCA FATIMA OMORO AKINBAMI, JCA ABDULLAHI MAHMUD BAYERO, JCA

Ratio Decidendi

OBANDE FESTUS OGBUINYA, J.C.A. (Delivering the Leading Judgment): This appeal interrogates the correctness of the decision of Federal High Court, Lagos Division (hereinafter addressed as “the lower Court”) coram judice: A.M. Anka, J., in Suit No. FHC/L/CS/222/2016, delivered on 16th December, 2016. Before the lower Court, the appellants and the respondents were the applicants and the respondents respectively.

​The facts of the case, which transformed into the appeal, are amenable to brevity and simplicity. On 21st July, 2009, Aso Savings and Loans Plc., a mortgage banking institution, granted a credit facility of N500M to the fifth respondent. The fifth respondent’s property situate at No. 70 Alexander Avenue, Ikoyi, Eti-Osa Local Government Area of Lagos State, registered under Title No. 34 at page 34 in volume 113 at the Federal Lands Registry, Ikoyi, Lagos, was used as collateral/security for the loan. A legal mortgage was created thereon in favour of the Aso Savings and Loans Plc. …

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