Ratio DecidendiRatio DecidendiRatio DecidendiRatio DecidendiRatio Decidendi



OWENA BANK NIGERIA PLC
V.
NSE LTD

(1997) JELR 45408 (SC)    

Supreme Court  ·  SC.86/1996 ·  4 Jul 1997 ·  Nigeria
 · 
Other Citations
Owena Bank v. N.S.E. Ltd (1997) 8 NWLR (Pt.515)1 (1997) All N.L.R 137
Owena Bank (Nig.) Plc v. N.S.E. Ltd (1997) 8 NWLR (Pt. 515) 1
CORAM
SALIHU MODIBBO ALFA BELGORE JSC MICHAEL EKUNDAYO OGUNDARE JSC UTHMAN MOHAMMED JSC SYLVESTER UMARU ONU JSC YEKINI OLAYIWOLA ADIO JSC

Ratio Decidendi

Core Terms Beta
court of appeal
extension of time
appeal owena bank
learned chief judge
high court
exchange commission
appeal
interested party
respective briefs of counsel
date of grant of leave
learned counsel
interest of the investing public
court
mr. i.l. okoh of the securities
first prayer
floors of the nigerian stock exchange
appellant file
s.24 of sec act
chief judge of the federal high court
facts of that case
sec decree no.
exchange control act
incompetent leave of the supreme court
transfers of the said shares
case nnaemeka-agu
administrative hearing committee
j.s.c
statutory provision
spirit of the law
case
oral arguments
respondent
applicant's application
public limited company
leading judgment
virtue of the provisions
allied matters decree
nigerian stock exchange
above letter
following decisions
managing director of owena bank
shares of the bank
orders
respondent time
order of the court of appeal
6th day of may
motion ex-parte
mr. idigbe


U. MOHAMMED, J.S.C (Delivering the Leading Judgment): On the 6th day of May, 1997 this appeal was argued before this court. After reading the respective briefs of counsel for the appellant and the respondent, and listening to the oral arguments in elaboration of points made in those briefs, I allowed this appeal, set aside all the orders made by the Court of Appeal and restored the orders made by the High Court. I indicated that I would give my reasons later. I now do so.

In this appeal Owena Bank (Nigeria) PLC submitted that the Court of Appeal, Lagos Division, was in error to grant leave to Securities and Exchange Commission to appeal, as an interested party, against a ruling delivered by Audu Kafarati J. of Federal High Court, Lagos. The history behind this dispute started when one Mr. I.L. Okoh of the Securities and Exchange Commission wrote to the Managing Director of Owena Bank, the appellant in this appeal, disclosing to him the decision reached by the Administrative Hearing C…

There's more. Sign in to continue reading.

judy.legal is the comprehensive database of case law and legislation from Ghana, Kenya and Nigeria. Gain seamless access to over 20,000 cases, recent judgments, statutes, and rules of court.

Get started   Login