MORTGAGE - RIGHT OF AN UNPAID MORTGAGEE: When the right of an unpaid mortgagee can lawfully arise

"Another aspect of this case that merits mention is that the appellant could not resort to the Mortgage agreement after having obtained judgment for the admitted amount with leave to adduce evidence to prove the balance outstanding in suit No.C/100/84 and then turn around to abandon the suit and seek to exercise the right of an unpaid mortgagee.

Before such a right can be lawfully exercised, the debt being owed by the Mortgagor must be ascertained in a Court of Law.

Where any sale of the mortgaged property takes place in purported exercise of such power or right without the ascertainment of the amount due such exercise of right will be tantamount to self help which is usually frowned upon by the courts and could attract dire consequences. See OJUKWU v. MILITARY GOVERNOR OF LAGOS STATE (1986) 3 NWLR (Pt.26) 39.

"Per AKAAHS, J.C.A. in FIRST BANK OF NIGERIA v. IFIOK EYO I. AKPAN & ANOR. (2011) LPELR-CA/C/180/2006