Bank claims ownership of Ikoyi flat where N13bn was discovered

Joseph Jibueze
November 30, 2017

Union Bank of Nigeria Plc has claimed ownership of Flat 7B in Osborne Towers, Ikoyi, where huge cash was found earlier this year.

The money which has been forfeited to the Federal Government on June 6, included 43,449,947 (about N13 billion), N23, 218,000 and £27,800 (about N10.6 million).

In its pending application, the bank is praying the Federal High Court in Lagos to vacate an interim order forfeiting the flat to the federal government.

The Economic and Financial Crimes Commission (EFCC) had accused a former Director-General of the National Intelligence Agency (NIA), Ayodele Oke, of fraudulently converting the agency’s funds.



It alleged that Oke’s wife, Folasade, used part of the funds to buy the flat.

The court, on November 9, ordered the flat’s temporary forfeiture to the federal government.

Justice Saliu Saidu ruled that it would bepermanently forfeited if no one turned up to justify ownership within 14 days.

Union Bank’s lawyer, Chief Ajibola Aribisala (SAN), said on Thursday he filed an application seeking to vacate the interim forfeiture order.

In a supporting affidavit, the bank said the flat was part of 16, Osborne Road, Ikoyi, belonging to the former National Chairman of the Peoples Democratic Party (PDP), Alhaji Adamu Mu’azu.

It said the property was covered by a Certificate of Occupancy dated September 27, 2009 and registered as 97/97/2009 in the Lands Registry Office, Alausa, Ikeja, Lagos.



According to the bank, Alhaji Mu’azu mortgaged the property to it by virtue of Tripartite Deed of Legal Mortgage dated November 1, 2011.

Union Bank said the property was a security for a loan granted to Tripple A Properties & Investment Limited.

The bank further claimed that the property’s original titled deed had been vested in it (the bank).

Besides, it said the loan was yet to be liquidated despite its tenor expiring.

The bank claimed it sold the property to Chobe Ventures Limited to liquidate the loan.

EFCC, in its counter affidavit, argued that the bank lacks the locus standi to challenge the forfeiture.

http://thenationonlineng.net/bank-claims-ownership-ikoyi-flat-n13bn-discovered/

Nothing we will not see in this country oooo

Only interest in the owner of the huge sum
Meanwhile
Let see the next chapter where it talks abt the whistle blower delayed payment

Settingz321:
So since June the foolish bank just observe they own the 17billion naira now?
Let see the next chapter where it talks abt the whistle blower

you can imagine

Settingz321:
So since June the foolish bank just observe they own the 17billion naira now?
Let see the next chapter where it talks abt the whistle blower

Read the news. The bank did not lay claim to the money, but to the house. There is a difference between the two.

Does anyone have visa to Lybia? I really need it.

All these is for APC not to pay the whistle blower Shea?

deji17:

Read the news. The bank did not lay claim to the money, but to the house. There is a difference between the two.

Oooh aiit thanks bro

Settingz321:


Oooh aiit thanks bro

You are welcome bro!

I sorry for Nigeria

Giant of Africa indeed

Wonders shall never . . .