APPELLATE PRACTICE — Stay of Execution — Money Judgment — Consent of Judgment Creditor
Ratio Decidendi
Per Fabiyi, JSC, in Ajuwa & Anor v. SPDCN Ltd (2011) NLC-123-290-2007(SC) at p. 19; Paras C—E:
"It is my considered opinion that the decision of this court UBN v Odusote Bookstore Ltd (supra) did not lay it down as a general principle of law that in all money judgments, the consent of judgment creditors must be secured to enable judges make order of stay of execution. It is when the judgment debtor is a bank or a financial institution and a proposal is being made as to where the judgment debt would be kept pending determination of the appeal that parties, but more especially the judgment creditor, will have an input."
Explanation / Scope
This principle establishes that the consent of a judgment creditor is not always required for a stay of execution in money judgments. The judgment creditor’s input is required where the judgment debtor is a bank or financial institution and a proposal is made as to where the judgment debt would be kept. The principle applies in stay applications. It ensures that consent requirements are properly understood. The principle reflects the limited scope of the consent requirement. It prevents unnecessary insistence on consent. The court must apply the principle. The principle provides guidance on stay of execution.