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Nairaland Forum / Nairaland / General / Politics / How 37-Storey NECOM house Was Sold To Bankole's Firm For N4 Billion! (10592 Views)
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How 37-Storey NECOM house Was Sold To Bankole's Firm For N4 Billion! by enyojo(f): 11:54am On Jun 12, 2011 |
37-storey house sold to Bankole’s firm: Probe panel seeks revocation www.punchng.com/Articl.aspx?theartic=Art201106124235365 |
Re: How 37-Storey NECOM house Was Sold To Bankole's Firm For N4 Billion! by enyojo(f): 12:07pm On Jun 12, 2011 |
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Re: How 37-Storey NECOM house Was Sold To Bankole's Firm For N4 Billion! by enyojo(f): 12:11pm On Jun 12, 2011 |
How we bought N4bn NECOM House –Bankole Friday, 03 June 2011 08:23 | Author: TransparencyNG | Against the controversy surrounding the sale of Nitels 37 storey building, popularly called NECOM House on Marina, Lagos, Mr. Biola Bankole, one of the directors of West African Aluminum Products Plc , the new owner of the building has said that contrary to allegations of secrecy in the deal that the house was transparently and lawfully bought. In an exclusively interview with Daily Sun on Wednesday in Lagos, Bankole said that the sale of NECOM House actually started in March 2007 and that it was number one on the list of about 800 to 850 properties advertised for sale by the liquidator. He narrated that WAPP Plc saw the advertisement in the papers and made enquiries on who the Liquidator was, and discovered that it was Otunba Olusola Adekanola . “We met him and we not only found out that he was the authorized liquidator to dispose of all properties advertised in the Punch and his appointment was validated by a court order. We prepared and submitted our bids and the Liquidator rightly contacted us as the highest bidder, all this was between 2007 and 2008, one year apart. Payment was made in 2007 and we perfected all title documents in 2009. “Thereafter, we took possession of the building, the parking space and the inventory of what was in the building. We wrote a letter to Nitel that has some equipment in the building to come and pay rents to us as the new owners. That was when all these problems started. If it was controversial, where were they when the property was advertised in 2007? Where were they when we paid for the property in 2008? Where were they when we perfected our title document in 2009? And we took possession of the property, all this while no one was talking about transparency or accused us of anything, only for someone to come after four years and accuse us of buying Nitel property in secrecy,” Bankole said. Bankole also stressed that only mischievous people would allege that the building was worth N75 billion. “We read in the papers that the value of Nitel house was supposed to be N75 billion, unfortunately I do not know where Nitel personnel or staff got that information from. You will agree with me that Nigeria has been trying to sell Nitel at different times but failed. This is because an investor would not like a situation whereby after buying someone somewhere would emerge to say that the sale was not valid enough or due diligence was not followed. I think that this is not good enough for the country’s corporate image.” He averred that the NECOM building was well valued at N4.5 billion by a recognized and reputable chartered estate surveyor and valuer in the person of M.I Okoro and Associate, noting that WAPP has been silent because it has not done anything wrong and everything done was lawful and correct. He added that the controversy over the sale actually started when the company wrote to the occupants of the building to pay rents. Source: http://www.transparencyng.com/index.php?option=com_content&view=article&id=4518:how-we-bought-n4bn-necom-house-bankole&catid=75:opinion&Itemid=86 |
Re: How 37-Storey NECOM house Was Sold To Bankole's Firm For N4 Billion! by opalu: 12:13pm On Jun 12, 2011 |
^^ Good defence sha. If it was legitimately done, they should leave them alone. Don't give a dog a bad name to hang it. That is my take |
Re: How 37-Storey NECOM house Was Sold To Bankole's Firm For N4 Billion! by edoyad(m): 12:19pm On Jun 12, 2011 |
Sold for 4 fricking billion ? Painting that building alone costs more than that amount. These guys have stolen so much from this poor country |
Re: How 37-Storey NECOM house Was Sold To Bankole's Firm For N4 Billion! by KnowAll(m): 12:29pm On Jun 12, 2011 |
Sold for 4 fricking billion ? Painting that building alone costs more than that amount. These guys have stolen so much from this poor country Because it is skyscraper don't be deceived. 1. it is not a modern building, 2. it would need a lot of work on it to bring it to the 21st century. N4 billion is about right. I wonder why can't we have a public auction houses carrying out such sale. A place where people would bid openly for government and ANY other asset openly without fear or favour. Our transactions in Naija are always shrouded in secrecy. We should embrace open bidding, it is more democratic and transparency is clear and concise to all concerned. 1 Like |
Re: How 37-Storey NECOM house Was Sold To Bankole's Firm For N4 Billion! by KnowAll(m): 12:32pm On Jun 12, 2011 |
That is a good idea, abi make I come open auction house for this kind of sale and save everybody all these wahala. |
Re: How 37-Storey NECOM house Was Sold To Bankole's Firm For N4 Billion! by hercules07: 12:35pm On Jun 12, 2011 |
Knowall, that building is worth far far more than 4 Billion naira, heck the land on which it sits is prime land and probably goes for around that figure, I have been in that building and what they need to do to make it top notch is not much, it was done up some years ago by costain,so it is in good shape. |
Re: How 37-Storey NECOM house Was Sold To Bankole's Firm For N4 Billion! by enyojo(f): 12:55pm On Jun 12, 2011 |
^^ Thank you my bro, The land on which it is standing is way beyond that chicken change! Then think of the unimaginable foundation on which it rests! We did a 2-story the other time on piles that are about 30m deep!! The 2 storey is about 10.8 m height! So imagine how much has been pushed underground the NECOM house! |
Re: How 37-Storey NECOM house Was Sold To Bankole's Firm For N4 Billion! by enyojo(f): 12:57pm On Jun 12, 2011 |
opalu: I'm bent to think that Bank'Ole used his Dad to cover face to buy that prime National Property. So it may not be legitimately done. |
Re: How 37-Storey NECOM house Was Sold To Bankole's Firm For N4 Billion! by Wizardofoz: 1:03pm On Jun 12, 2011 |
enyojo: I thought you said it was bad for GEJ to arrest Bankole; that he was just acting a script from Wasgington, No? enyojo: I guess you have no convictions. You post depending on the levl of your estrogen and time of the month. Lemme guess, you just finished your menstruation? I hazard three days ago? |
Re: How 37-Storey NECOM house Was Sold To Bankole's Firm For N4 Billion! by edoyad(m): 1:06pm On Jun 12, 2011 |
Bank Ole, haha , i love that |
Re: How 37-Storey NECOM house Was Sold To Bankole's Firm For N4 Billion! by KnowAll(m): 1:11pm On Jun 12, 2011 |
[b]To be sincere you would never know the true worth of anything in Nigeria if you keep on plucking figures from the air. Let the market forces determine the price, how many people have these kind of money banded about in a poor country like Nigeria. Well I don't blame those people going about and snapping up properties at ridiculous prices when our stuupid banks would borrow them the money at the end of the day if the banks are not making money CBN would come and bail them out. I know how much I have lost in Oceanic Bank and despite Sanusi's clamp down are our stuupiid banks are still not borrowing state goverment's stupendious amount of money. We can't continue running a country like that. Secondly how come the owners of the property only came out now shouting" blue murder" medicine after death I would say, if Mr Bankole had won his election and returned to the House of Reps would all these drama be unfolding. I beg, how come we are not hearing anything from the Senate end of things, do you people seriously think the SPEAKER OF the House of Reps would unilatarally go and collect loans without the Senate President doing like-wise, if they don't let this lye it would drag every one of them down from Mr Senate President , to Mr President unless Bankole wants to take the flak and protect the others.[/b] |
Re: How 37-Storey NECOM house Was Sold To Bankole's Firm For N4 Billion! by enyojo(f): 1:13pm On Jun 12, 2011 |
Wizardofoz, I no get ur tym today o, I dey holy |
Re: How 37-Storey NECOM house Was Sold To Bankole's Firm For N4 Billion! by enyojo(f): 1:15pm On Jun 12, 2011 |
But on a serious note, haven't you heard that he will soon get bail since GEJ has returned from US? Or you didnt see this in the article: Not satisfied with the answers given by the workers, the privatisation agency had set up a disciplinary committee for them.Your man GEJ may not fight any graft after all |
Re: How 37-Storey NECOM house Was Sold To Bankole's Firm For N4 Billion! by Wizardofoz: 1:16pm On Jun 12, 2011 |
enyojo: Really? I am bent to think that the Obama administration insructed the GEJ administration to plant this story in the media to give them a reason to arrest and unduly prosecute Bankole, No? |
Re: How 37-Storey NECOM house Was Sold To Bankole's Firm For N4 Billion! by Kobojunkie: 1:58pm On Jun 12, 2011 |
N4 billion for that structure? WOW!!! |
Re: How 37-Storey NECOM house Was Sold To Bankole's Firm For N4 Billion! by enyojo(f): 2:01pm On Jun 12, 2011 |
Ofoz, Have removed my picture from NL because of you. You are too young for wt dreams. |
Re: How 37-Storey NECOM house Was Sold To Bankole's Firm For N4 Billion! by enyojo(f): 2:02pm On Jun 12, 2011 |
Kobojunkie: Too small or too[size=14pt] big[/size]? |
Re: How 37-Storey NECOM house Was Sold To Bankole's Firm For N4 Billion! by Kobojunkie: 2:07pm On Jun 12, 2011 |
^^^ Depends. I mean someone sold it to him for that price and I am sure the government was well aware of the sale, and probably approved it. The sale was probably legal so all I can say is, what a bargain. |
Re: How 37-Storey NECOM house Was Sold To Bankole's Firm For N4 Billion! by enyojo(f): 2:15pm On Jun 12, 2011 |
It was grossly 'undersold' |
Re: How 37-Storey NECOM house Was Sold To Bankole's Firm For N4 Billion! by enyojo(f): 2:19pm On Jun 12, 2011 |
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Re: How 37-Storey NECOM house Was Sold To Bankole's Firm For N4 Billion! by Kobojunkie: 2:19pm On Jun 12, 2011 |
Well, this will not be the first time. I mean we read some weeks ago of how the 2008 vehicles purchased by the last NASS is possibly to be sold for chicken change. This is Nigeria |
Re: How 37-Storey NECOM house Was Sold To Bankole's Firm For N4 Billion! by KnowAll(m): 2:19pm On Jun 12, 2011 |
MARINA is a run down area now, it used to be Nigeria's prime business spot but for many years now big business have all moved out to VI, I think the price is about right except we want to continue wallowing in past glory. That building is a 70's style skyscraper for crying out loud!!! |
Re: How 37-Storey NECOM house Was Sold To Bankole's Firm For N4 Billion! by enyojo(f): 2:37pm On Jun 12, 2011 |
Lagos Island (Marina) |
Re: How 37-Storey NECOM house Was Sold To Bankole's Firm For N4 Billion! by enyojo(f): 2:52pm On Jun 12, 2011 |
BANK'OLE IS USED TO BUYING UNDER-VALUED PROPERTIES. CHECK THIS: •EFCC probes alleged purchase of official residence •Four posh mansions in Abuja traced to ex-Speaker •Contract scam: Four lawmakers may testify against him |
Re: How 37-Storey NECOM house Was Sold To Bankole's Firm For N4 Billion! by texazzpete(m): 3:14pm On Jun 12, 2011 |
KnowAll: The article clearly states that the petition to the Vice President was dated March 15th 2011. That was a long time before Bankole's defeat at the polls. For someone with the moniker 'KnowAll' you certainly don't read articles in detail. |
Re: How 37-Storey NECOM house Was Sold To Bankole's Firm For N4 Billion! by strangest(m): 4:17pm On Jun 12, 2011 |
Can they account for the 4bn? Definitely no, Another con man don pocket am, |
Re: How 37-Storey NECOM house Was Sold To Bankole's Firm For N4 Billion! by Nobody: 4:57pm On Jun 12, 2011 |
and guess who resides on the ground floor UBA |
Re: How 37-Storey NECOM house Was Sold To Bankole's Firm For N4 Billion! by enyojo(f): 5:08pm On Jun 12, 2011 |
^^ Oyb, has that anything to do with this? Or is there something u know that we don't? |
Re: How 37-Storey NECOM house Was Sold To Bankole's Firm For N4 Billion! by KnowAll(m): 5:17pm On Jun 12, 2011 |
T he article clearly states that the petition to the Vice President was dated March 15th 2011. That was a long time before Bankole's defeat at the polls. For someone with the moniker 'KnowAll' you certainly don't read articles in detail. Do you know how many petitions I have written, your suggestion Nigeria authorities would confront a man who is a sitting legislator over some spurious allegation after winning his election is laughable. Are you for real, which country are you operating from. How come we have not heard of the Senate President's loan saga abi you thing say what Reps do Senate would just siddon and look. They work in tandem man. |
Re: How 37-Storey NECOM house Was Sold To Bankole's Firm For N4 Billion! by opalu: 5:41pm On Jun 12, 2011 |
oyb: Could UBA be privy to this shaddy deal? |
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