Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.


Akingbola challenges Lagos High Court

17 January 2014, 15:05

Lagos - Erastus Akingbola, a former Managing Director of the defunct Intercontinental Bank Plc, on Thursday challenged the jurisdiction of a Lagos High Court to register a judgment against him by a London court.

The High Court of Justice, Queens Bench, London, had on August 1, 2012, ordered Akingbola to pay Access Bank £654 million ( N212.2 billion) for some fraudulent practices committed when he was in charge of the defunct bank.

The News Agency of Nigeria (NAN) reports that Access Bank acquired Intercontinental Bank Plc on January 31, 2012.

In order to enforce the judgment in Nigeria, Access Bank filed an ex-parte application before Justice A.A Oyebanji of a Lagos High Court.

It sought registration of the judgment and the accompanying order of Justice Michael Burton, dated September 13, 2012.

In her ruling, Oyebanji ordered Akingbola to pay Access Bank N212.2 billion (the judgment sum).

However, in an application dated September 27, 2013 and filed by his lawyer, Wole Olanipekun (SAN) before Justice Babajide Candide-Johnson, Akingbola prayed the court to quash the registration of the judgment for lack of jurisdiction.

 Arguing the application, Olanipekun said that the judgment creditor (Access bank) failed to comply with condition precedent before the registration could be completed.

He submitted that Section 251 of the Constitution vested the jurisdiction on Federal High Court and not on State High Court.

The lawyer said that the suit filed in London by Access Bank was before a Commercial Division of the court, which is equivalent of the Federal High Court in Nigeria.

Besides, Olanipekun argued that the judgment was not certified in compliance with the rules of the London court.

He submitted that this rendered it invalid.

He further argued that the judgment debtor (Akingbola) was not put on notice before the registration of the foreign judgment in Nigeria.

Citing plethora of legal authorities, Akingbola’s counsel prayed the court to allow the application and set aside the ex-parte order.

 Counsel to Access Bank, Olaniwun Ajayi (SAN), in a counter-affidavit dated October 10, 2013, said that efforts by the court bailiff to serve Akingbola before the registration of the judgment proved abortive.

According to him, the former bank chief evaded service.

On the issue of jurisdiction, Ajayi submitted that the proposition that only the Federal High Court had jurisdiction to register foreign judgments should be discountenanced.

He submitted that the State High Courts had unlimited power to look into the matter.

According to him, the Registration and Enforcement of Foreign Judgments, Cap 175 of 1958, and Section 272 of the Constitution empower the State High Courts to adjudicate on the matter.

 On the issue of certification of judgment, Ajayi submitted that it would be against public interest if the court refused to enforce a "money judgment"

He further informed the court that Akingbola appealed against the judgment in London and that his appeal was refused.

Ajayi urged the court to dismiss the application and allow the registration of the judgment.

Candide-Johnson adjourned the case to February 18 for ruling.

-  NAN


Read News24’s Comments Policy

Comment on this story
Comments have been closed for this article.

Read more from our Users

Nigeria @ 56: Words to my green f...

A leader’s job is not to dictate, but rather to be respected, admired and be a trustee, of the land we love, with so much potential, a land which should be freer than free. Its still a long way to fufilling our destiny! Read more...

Submitted by
Isaac Asabor263
Recession: An opportunity for Nig...

The recession should be seen as an opportunity for the country’s promotion as long as we all collectively conduct ourselves in a patriotic manner, writes Isaac Asabor.  Read more...

Submitted by
Black and White

We want to imitate the whites in everything because we are ignorant of our inherent originality and content. We spend all our Naira to acquire his inventions because we so oblivious of our natural endowments that we allow him have it for free. Read more...

Submitted by
Nate Nat
Adamawa State University Mubi: A ...

ADSU integrity forum has accused the Sunday Joshua Wugira, a lawyer, of adopting unorthodox tactics by abusing his privilege by attacking the integrity of ADSU Vice Chancellor Dr. Moses Zira Zaruwa, writes a News24 reader. Read more...

Submitted by
Abdulsalam Jubril
My Country Nigeria (Part One)

Poetry by Abdulsalam Jubril.

Submitted by
Abdulsalam Jubril
Recession, dearth in leadership a...

Every leader has the opportunity to become great and making himself immortal in the lives and hearts of people for generations to come. Will Mr. President seize this opportunity?, questions Abdulsalam Jubril. Read more...