In Obasi Brothers Merchant Co. Ltd. vs. Merchant Bank of Africa Securities Ltd. (2005) 2 SCNJ 272, Pat-Acholonu, JSC held at page 278 that: “A final judgment is one which decides the rights of parties. In other words it is a decision on the merits of the case where the matter is assiduously canvassed and the rendition of a judgment is based on what is canvassed and agitated before the Courts by the legal combatants.”
EVERY JUDGEMENT TAKES EFFECT ON PRONOUNCEMENT
In the case of INTERCONTRACTORS NIGERIA LTD v. U.A.C. OF NIGERIA LTD (supra) or (1988) (Pt. 1) Vol. 9 NSCC 737 at 752. This court per KARIBI WHYTE JSC stated:- “It is well settled that every judgment takes effect on pronouncement – see BANK OF WEST AFRICA LTD v. N.I.P.C LTD [1962] LLR 31; OLAYINKA v. ELUSANMI [1971] 1 NMLR 277. A judgment debtor seeking to stay the execution must show that he is challenging the judgment, or is asking for time to comply with the terms of the judgment.”
— D. Musdapher JSC. M.O. Olatunji v. Owena Bank (PLC) & Anor. (SC.349/2002, 25 April 2008)