N2.4bn debt: Supreme Court reverses decision on GTBank’s appeal

How fraudster defrauded GTbank
Spread the love

The Supreme Court on Friday reversed its earlier decision which dismissed an appeal by Guaranty Trust Bank (GTB) against a N2.4 billion judgment given in favour of Innoson Motors Nigeria Limited by the Court of Appeal in Ibadan, Oyo State.

In a judgment delivered by a five-member panel, led by Justice Olukayode Ariwoola, the court held unanimously that the Supreme Court erred when, in a ruling on February 27, 2019, it erroneously dismissed the appeal marked: SC/694/2014 filed by GTB.

In the lead judgment, written by Justice Tijani Abubakar, but read on Friday by Justice Abdu Aboki, the court held that it was misled by its Registry, which failed to promptly bring to the notice of the panel that it sat on the case on February 27, 2019, and that GTB had already filed its appellant’s brief of argument.

READ ALSOMarket capitalization of GTbank, FBN, 3 others drop by N2.46trn

The Supreme Court said had the panel that sat on the case on February 27, 2019, been notified of the existence of the appellant’s brief of argument, it would not have given the ruling which dismissed GTB’s appeal on grounds of lack of diligent prosecution.

Relying on Order 8 Rules 16 of the Supreme Court’s Rules, Justice Abubakar, in the lead judgment, held that the apex court has the power to set aside its decision in certain circumstances, like any other court.

He added that such circumstances include where there is any reason to do so, such as where any of the parties obtained judgment by fraud, default or deceit; where such a decision is a nullity or where it is obvious that the court was misled into giving a decision.

Justice Tijani held that the circumstances of the GTB case fall into the category of the rare cases where the Supreme Court could amend or alter its own order on the grounds that the said order or judgment did not present what it intended to record.

READ ALSOCustomer alleges fraudulent activities against GTbank

“Having gone through all the materials in this application, therefore, I am satisfied that the appellant/applicant’s brief of argument was filed before the order of this court made on the 27th of February 2019 dismissing the applicant’s appeal.

“The order dismissing the appeal was therefore made in error. It ought not to have been made if all materials were disclosed. The application is, therefore, meritorious and hereby succeeds,” Justice Abubakar said.

He proceeded to set aside the court’s ruling of February 27, 2019, dismissing GTB’s appeal and ordered that the appeal marked 694/2014 “be relisted to constitute an integral part of the business of the court until its hearing and determination on the merit.”

NO COMMENTS

LEAVE A REPLY