OBASEKI, J.S.C. (Delivering the Leading Judgment): This appeal is against the decision of the Court of Appeal, Lagos Division, delivered on the 17th day of April, 1989 which partially reversed the decision of the Federal High Court, Lagos granting an order of interlocutory injunction against the respondent to restrain him from exercising any right in respect of some shares in dispute held in the Bank (Societe Generale Bank (Nigeria) Ltd). After the appeal was entered in the Supreme Court, the appellant filed a motion for "an interim injunction to restrain the defendant/respondent from exercising any of the rights attaching to the 2,333,000 ₦1, shares in the Society Generale Bank (Nigeria) Limited pending the appeal filed by the plaintiff herein to the Supreme Court."
After hearing argument of counsel, the court decided to hear arguments in the appeal and decide the issue raised which was similar in nature to the issue raised in the motion. Parties and their counsel were duly invited a…