A Federal High Court in Lagos has struck out a suit by the Muhammad Shitta-Bey family of Lagos seeking to recover a N1,275,351,167 billion judgment debt from Great Nigeria Insurance Plc, the Central Bank of Nigeria and four other banks.
Justice Oluremi Oguntoyinbo on Wednesday, April 30, found no evidence that judgment debtor/applicant Great Nigeria Insurance and the five other garnishees owed the Shitta-Bey family the sum as judgment debt. The insurance firm and the banks filed a March 6 Motion on Notice praying the court to dismiss the suit for being an abuse of court process and to set aside the garnishee order nisi.
Upholding the insurance firm and banks’ argument, Justice Oguntoyinbo held: “I have carefully considered the said paragraphs of the consent judgment. I cannot find any amount of money mentioned in the said paragraphs of the consent judgment.