SIMM COMPUTER RESOURCES LTD & ANOR
V.
FIRST INLAND BANK

(2016) JELR 45854 (CA)    

Court of Appeal  ·  CA/L/440/2015 ·  24 May 2016 ·  Nigeria
CORAM
JOSEPH SHAGBAOR IKYEGH Justice of The Court of Appeal of Nigeria SAMUEL CHUKWUDUMEBI OSEJI Justice of The Court of Appeal of Nigeria YARGATA BYENCHIT NIMPAR Justice of The Court of Appeal of Nigeria
Core Terms Beta
appellants
issues
land use act
respondent
consent of the governor
trial court
deed of legal mortgage
lower court
address
address of counsel
argument of the appellants
certificate of occupancy
deed null
holder of a statutory right of occupancy
land registry
legal mortgage
trial judge
above cases
appellants counsel
behalf of the 1st appellant
claim of the appellants
clear mental opinion
creation of the deed of legal mortgage exhibit
customer of the respondent
executed mortgage deed
federal high court
final addresses
form of unilateral decision
interlocutory injunction
k. akpene v. barclays
leading judgment
loan facility
offer of credit facility agreement
order of court
order of perpetual injunction
plethora of cases
prior consent of the governor
prior execution of an instrument
proprietary rights of the plaintiffs
relevant provision
said judgment
signing of the agreement
supreme court
time limit
unilateral decision raising interest rate
unilateral raising of interest rate
valid mortgage

YARGATA BYENCHIT NIMPAR, J.C.A.(Delivering the Leading Judgment): This appeal is against the judgment of HON. JUSTICE A. M. LIMAN sitting at the Federal High Court, Lagos delivered on the 1st July, 2013 wherein the trial Court entered judgment for the Respondent and dissatisfied with the said judgment, the Appellants filed an Amended Notice of Appeal dated 11th June, 2015 on the 15th June, 2015 setting out 2 grounds of Appeal.

Brief facts leading to this Appeal are that the Appellants a customer of the Respondent was offered a loan facility which they accepted on behalf of the 1st Appellant. The facility was to be secured by a Deed of Legal Mortgage over the 1st Appellant's property at No. 40, Old Ota Road, Orile Agege, Lagos. The legal mortgage was only perfected and registered at the Land Registry, Lagos two years after the draw down by the Appellants. An attempt to recover the loan made the Appellants to initiate an action against the Respondent by way of a Writ of Summons seeking t…

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