The Court of Appeal sitting in Lagos has allowed the appeal of Guaranty Trust Bank (GTB), overturning the N507 million judgment earlier awarded to Chashar Farms Ltd, a company linked to former Akwa Ibom State Governor, Udom Emmanuel.
Delivering judgment, Justice Okong Abang nullified the decision of the Lagos State High Court, describing it as a miscarriage of justice. He held that the trial court erred in granting summary judgment in a matter involving serious disputes of fact, which required full trial and oral evidence.
The appellate court noted that the lower court relied on an extra‑judicial police statement not tested under cross‑examination, thereby denying GTB fair hearing in violation of Section 36 of the 1999 Constitution. Justice Abang stressed that allegations of forgery and fraud raised in the proceedings required proof beyond reasonable doubt under the Evidence Act, and could not be resolved summarily.
The Court further observed that the trial court failed to consider the police report indicating that Udom Emmanuel, a director of Chashar Farms Ltd, did not honour an invitation during investigation. It held that accepting the respondent’s claims without proper hearing of the bank’s defence occasioned a miscarriage of justice.
Consequently, the Court of Appeal set aside the judgment of the Lagos High Court, remitted the case to the Chief Judge of Lagos State for reassignment to another judge, and awarded N1 million costs in favour of GTBank.
... Court of Appeal Overturns N507m Judgment Against GTBank, Orders Retrial ... Naijaonpoint.