It is settled law that the onus is on the party applying for a stay of execution to satisfy the court that in the peculiar circumstance of his case a refusal of a stay would be unjust and inequitable. The case of Balogun v. Balogun (1969) 1 All NLR 349 coram Coker, Madarikan and Udoma J.J. S.C. appears to me to be very apposite in this particular case. In the judgment of the court delivered by Coker J.S.C. at page 351, the court observed that:- “We are in full agreement with the principle that in order to obtain a stay of execution of a judgment against a successful party an applicant must show substantial reasons to warrant a deprivation of the successful party of the fruits of his judgment by the court. We are in no doubt whatsoever that where grounds exist on the motion suggesting a substantial issue of law to be decided on the appeal in an area in which the law is to some extent recondite and where either side may have a decision in his favour such substantial grounds as would warrant an interference clearly exist.”
— O. Kolawole JCA. Ladoke & Ors. V. Olobayo & Anor. (CA/L/137M/92 , 17 July 1992)