“I grant a conditional Stay of Execution. The N25 million judgment debt should be paid to the Chief registrar of the Lagos High Court, who will in turn pay it into an interest yielding account of a bank that both parties choose. The money should paid within 21 days from today, “ Idowu said. The judge added that the applicant has not given sufficient proof to show that paying the money will harm its operation in any way. What it brought before the court was a mere piece of paper that did not show any details of spending and expenditure.
She also ruled that collecting a bank guarantee in lieu of the judgment debt pending appeal means leaving the money with the debtor to do as he wish until the case is determined.
NDLEA had earlier applied to the court for an order of Stay of Execution on her judgment delivered on November 24, 2011 pending the determination of the Appeal filed by the agency on December 6, 2011 against the judgment.
Femi Oloruntoba, NDLEA Director of Prosecution and Legal services, while moving the application before the court then stated that the agency will be prevented from performing its statutory functions as well prosecute the appeal if it is made to pay the judgment sum of N25 million as it is half of its monthly available resources.
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