Ecobank Nigeria Limited has appealed the judgement delivered by the Federal High Court in the N72 billion lawsuit brought against the bank by Honeywell Flour Mills Plc.

In its notice of appeal dated 19th July 2023, filed on the same date, Ecobank sought to overturn the judgment delivered on 18th July 2023.

Recall, in 2018, Honeywell Flour Mills filed a suit against Ecobank, seeking damages in the excess of N72 billion, over the bank’s decision to freeze its assets in November 2015 after obtaining ex-parte orders from the Federal High Court. Honeywell was, however, able to successfully regain full access to its assets in 2016, after the Court of Appeal overturned the Federal High Court’s ex-parte orders.

In 2018, the Supreme Court ultimately upheld the Court of Appeal ruling after it was approached by Ecobank to overturn the decision to return full access to Honeywell Flour Mills.

Therefore, Ecobank Bank is seeking an Order from the Court of Appeal to uphold its Notice of Preliminary Objection, challenging the jurisdiction of the Federal High Court to preside over the matter.

Alternatively, Ecobank requested the Court of Appeal to dismiss Honeywell’s claim at the lower court, stating that the evidence presented did not Alongside the Notice of Appeal, Ecobank filed a Motion on Notice to stay the execution of the lower court’s judgment and to prevent Honeywell or any party acting on their behalf from taking advantage of the ruling pending the appeal hearing.