In a significant legal development, the Court of Appeal has granted First Bank of Nigeria (FBN) permission to proceed with its appeal against GHL, marking a new phase in the long-running dispute between the two parties.
The decision came after FBN formally applied for leave to challenge an earlier ruling delivered by a lower court in favour of GHL. Consequently, the appellate court ruled that the bank had raised arguable grounds that deserved judicial consideration.
During the hearing, FBN’s counsel argued that the trial court had erred in law and fact, insisting that the judgment overlooked critical evidence. On the other hand, GHL’s lawyers opposed the application, maintaining that the appeal was frivolous and designed to delay justice.
However, the appellate justices, after careful deliberation, concluded that the issues raised merited further judicial review.
“This court is satisfied that the applicant has established sufficient grounds to warrant an appeal. The matter will therefore proceed to the next stage,” the panel declared.
As a result of this ruling, FBN now has the legal backing to pursue its case at the appellate level. This development, therefore, reopens the legal battle, giving the bank an opportunity to overturn the earlier decision.
Analysts note that the ruling could have wide-ranging implications, especially for the financial and business sectors, since both parties hold strong positions in their respective industries.
Following this decision, the court is expected to set a date for the hearing of the substantive appeal. Legal experts believe the outcome could set a precedent for similar commercial disputes in the country.
