The bank applied for a stay of execution but was denied. However, the court granted the ex-employees application for an Order Nisi to attach all monies owed to Ecobank with the Central Bank of Nigeria and other commercial banks, pending the determination of the appeal.

“The court refuses the application to stay the execution of the judgment and grants the Order Nisi as prayed.

“It is imperative to protect the integrity of this court’s judgment and ensure the judgment sum is secured pending the outcome of the appeal,” Justice Gwandu held.

Recall that following the suit filed by 1,742 ex-Oceanic Bank employees against Ecobank who were denied their legitimate entitlements by the bank, the National Industrial Court, Lagos Division in a judgment had ordered Ecobank Nigeria Limited to pay the sum of N1, 086,611,589.11 to the ex-workers.

Dissatisfied with the Court, Ecobank filed an appeal against the judgment of the court and an application for a stay of the execution of the judgment.

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