BANK PHB PLC v. CENTRAL BANK OF NIGERIA & 2 ORS.

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Facts:

The appellant instituted an action at the lower Court via Writ of Summons seeking orders principally to overturn the decision of the 1st respondent revoking the appellant’s license and transfer its assets through the NDIC and AMCON. The appellant’s ground was that the revocation of its license by the 1st respondent and eventual sale of its assets were in contravention of the law. In their response, the 1st, 2nd and 3rd respondents each filed Preliminary Objections, objecting against the jurisdiction of the Court to hear the matter. In a considered decision, the trial Court held that the 1st respondent’s actions were lawful and dismissed appellant’s suit.

Dissatisfied with the decision of the trial Court, the appellant appealed to the Court of Appeal.

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