ADENIRAN EMMANUEL VS EMMANUEL ALAO & ANOR
June 25, 2025AUGUSTA CHIME V CHIME
June 25, 2025Legalpedia Citation: (2001) Legalpedia (SC) 41181
In the Supreme Court of Nigeria
HOLDEN AT ABUJA
Sun Jan 28, 2001
Suit Number: SC 17/1996
CORAM
SALIHU MODIBBO ALFA BELGORE
SYLVESTER UMARU ONU
ONYEKACHI AJA OTISI JUSTICE OF THE COURT OF APPEAL
PARTIES
ALHAJI LAWAL SARKIN TASHA APPELLANTS
UNION BANK OF NIGERIA PLC. RESPONDENTS
AREA(S) OF LAW
SUMMARY OF FACTS
The respondent got judgment for recovery of loan from the appellant under the Agricultural Credit Guarantee Scheme Fund. Under Decree which establish the fund, only the Board could sue in respect of such loans.
HELD
The court allowed the appeal and struck the suit as incompetent.
ISSUES
Who is the proper party in civil proceedings arising from failure of any borrower to repay a loan granted by a bank and guaranteed under the Agricultural Credit Guarantee Scheme, the actual borrower or the Board?
RATIONES DECIDENDI
PROPER PARTY TO AN ACTION FOR RECOVERY OF LOAN UNDER THE AGRICULTURAL CREDIT GUARANTEE SCHEME FUND ACT
By section 15 of Agricultural Credit Guarantee Scheme Fund Act, Cap.13 Laws of the Federation of Nigeria, 1990 all legal proceedings of civil nature arising from the failure of any borrower to repay a loan granted by the bank or guaranteed under the Act or arising from any matter pertaining to any guarantee given pursuant to the Act shall be instituted and conducted by or against the “Board”. –
CASES CITED
Not Available
STATUTES REFERRED TO
The Agricultural Credit Guarantee Scheme Fund Act, Cap.13 Laws of the Federation of Nigeria, 1990|
