I do not think it has been denied that the 3rd respondent is the mother of the said Chief Kalu. It is not also disputed that Chief Kalu was the Chairman of the Board of Directors of the bank. But I think a few matters ought to be put right. First, what gave rise to the auction sale was not the making of the Chairman, Board of Directors. It was the failure of the appellant to settle his indebtedness with the bank. Second, auction sale attracts all and sundry. It affords an opportunity for anyone able to meet the challenges of an auction sale to participate in it unless he is precluded by any regulation, agreement, undertaking or by virtue of his special position in relationship with the transaction from so participating.
– Uwaifo JSC. Okonkwo v. Cooperative Bank (2003)