Facts:

The respondents, by way of originating summons, sought the interpretation of GTB Plc v. Adedamola (2019) 5 NWLR (Pt. 1664) and UBA Plc v. Eje & Ors (2002) LPELR-57973 (CA); as well as a declaration that the freezing of their accounts by the appellant was unlawful without a valid and subsisting court order. They also sought an order directing the unfreezing of their accounts, general and exemplary damages of two billion naira, and interest of 10% per annum until the restriction on their accounts is removed.

In response, the appellant filed a motion challenging the jurisdiction of the lower court on the ground that the respondents had no legal right enforceable against the appellant, the appellant having acted pursuant to a court order, and that the failure to join the EFCC robbed the court of jurisdiction.

The lower court delivered judgment in favour of the respondents, holding among other things, that the appellant had no statutory or contractual power to unilaterally freeze or restrict the respondents’ accounts without a valid and subsisting court order; that the freezing of the accounts was illegal and unlawful; and directing the appellant to unfreeze account numbers 1216254641, 1222868021 and 1017359121, the order on the first two accounts having expired and the third restricted without any order. The court also awarded exemplary damages of two billion naira against the appellant, ordered interest of 10% per annum on the sums in the respondents’ accounts from the date of judgment until the restriction is removed, and costs of fifteen million naira.

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