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STANDARD TRUST BANK PLC
V.
OLUSOLA

(2007) JELR 48357 (CA)

Court of Appeal 7 Jun 2007 Nigeria
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- The plaintiff (respondent), a customer of the defendant bank (appellant), paid N250,000 to purchase shares in the bank but was not issued share certificates; he sought (a) a declaration as to the purpose of the payment, (b) a mandatory or

Case Details

Suit Number:CA/IL/M.56/2006
Judges:TIJJANI ABDULLAHI Justice of The Court of Appeal of Nigeria JUMMAI HANNATU SANKEY Justice of The Court of Appeal of Nigeria IGNATIUS IGWE AGUBE Justice of The Court of Appeal of Nigeria
Counsel:Femi Sarumi For Appellant Ademola Adeyemi For Respondent

TIJJANI ABDULLAHI, J.C.A. (Delivering the Leading Judgment) This is an appeal against the Ruling of the High Court of Justice, Ekiti State holding at Ado-Ekiti, Coram C. I. Akintayo J, delivered on the 7th June, 2006. The Appellant herein was the Defendant in the lower court whilst the Respondent was the Plaintiff who filed an action claiming as per the Writ of summons the following reliefs:

"(a) a declaration that the sum of two hundred and fifty thousand naira (N250,000.00) paid over to defendant on 16th December, 2003 was for purposes of buying shares in defendant.

(b) a mandatory order on defendant to issue to plaintiff the necessary shares certificates in respect of the said sum of money.

(c) two million naira (N2,000.000.00) general damages for defendant's breach in giving plaintiff his share certificate and the consequent loss of dividends from 2004."

The case as can be gleaned from the processes filed by the parties is that: The Plaintiff was and is still a Customer of the Def…

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