Facts:

The 1st Respondent, the Asset Management Corporation of Nigeria (AMCON), fi led a suit against the 2nd – 4th Respondents in the Federal High Court, Lagos, under Suit No. FHC/L/CS/1346/2015, seeking to recover a debt of N1,085,859,446.14 (One Billion, Eighty-Five Million, Eight Hundred and Fifty-Nine Thousand, Four Hundred and Forty-Six Naira, Fourteen Kobo) that was originally owed to Union Bank Plc. AMCON had acquired the debt as part of its mandate to manage non performing loans. The 2nd – 4th Respondents, in their defense, acknowledged the debt, but contended that the loan was taken for the purpose of developing ICT hubs and training students in seven Nigerian universities, including the Appellant (a Nigerian university). The loan was to be serviced through ICT levies to be paid by the universities involved. The trial court granted the 2nd – 4th Respondents leave to issue a third-party notice on the Appellant and other related parties. As a result, the Appellant, along with other third parties, was joined in the proceedings. The 2nd – 4th Respondents subsequently fi led an application for summary judgment on 30th June 2016, seeking judgment against the Appellant in the sum of N811,080,521.00 (Eight Hundred and Eleven Million, Eighty Thousand, Five Hundred and Twenty One Naira), arguing that the Appellant had not disputed its liability for the debt and had failed to actively engage in the defense of the claim. The Appellant did not file any process at the trial court in response to the Third-Party Notice.

At the proceeding of 3rd February, 2016 which was slated for hearing of the 2nd – 4th Respondents’ application for summary judgment against the 1st and 4th third parties based on their admission, and upon the objection of the third parties that the motion was not ripe for hearing, learned counsel for the 2nd – 4th Respondents -withdrew the motion and made the application orally instead, Learned counsel informed the court on page 1318 of the record that this Appellant, as 2nd third party had been served with the processes but failed to appear. The court entered judgment in favour of the 2nd – 4th Respondents against the 3rd parties and particularly against the Appellant in the sum of N811,080,521.00 (Eight Hundred and Eleven Million, Eighty Thousand, Five Hundred and Twenty-One Naira).

Dissatisfied with the trial court’s decision, the Appellant fi led an appeal before the Court of Appeal, raising eight grounds of appeal. The Appellant argued that the trial court had erred in granting summary judgment without hearing its objections and defense, and without giving it a fair opportunity to contest the claim. However, the Court of Appeal upheld the trial court’s decision, affirming the judgment and finding that the Appellant’s failure to engage in the proceedings constituted an admission of the debt. Further aggrieved, the Appellant brought this appeal before the apex court.