Metro

GTBank Loses Bid To Reclaim MKO Son’s Lagos Mansion

Published

2 months ago

June 20, 2025

The Court of Appeal, Lagos Division, has overturned a 2013 judgment of the Federal High Court, which allowed Guaranty Trust Bank Plc to foreclose on a N30bn 44-room mansion in Ikoyi, Lagos, belonging to Alhaji Agboola Abiola, son of the late business mogul and politician, Chief M.K.O. Abiola.

A Certified True Copy of the ruling in Appeal No. CA/L/888/2014, obtained by The PUNCH showed that the appellate court found significant discrepancies in the execution of the tripartite legal mortgage that GTBank relied on to secure the loan.

The unanimous judgment, delivered by Justice Paul Aimee Bassi, with Justices Polycarp Kwahar and Abdulaziz Anka concurring, held that the trial court erred in failing to properly evaluate serious allegations of forgery and fraud raised by the appellants.

The appeal stemmed from a June 20, 2014, decision by the Federal High Court in Lagos, which granted reliefs sought by GTBank in a motion filed on April 8, 2014.

Dissatisfied with the ruling, the appellants, represented by Dr Charles Adeogun-Phillips (SAN), filed a four-ground notice of appeal.

The main issues before the court included whether GTBank had the right to regularise its affidavit after the matter had been adjourned for judgment, whether the trial court rightly granted the bank’s reliefs, and whether a valid legal mortgage existed to justify the bank’s appointment of a receiver over the Ikoyi property.

In his lead judgment, Justice Bassi ruled that the mortgage instrument relied on by the bank was fundamentally flawed and incapable of conferring any right of foreclosure.

While the first appellant, RCN Networks Ltd, acknowledged executing the deed, the second appellant, Agboola Abiola, denied signing it.

He claimed that the execution page bearing his signature had been fraudulently lifted from a different document and inserted into the mortgage deed.

The appellants also accused GTBank of consolidating two separate loans one of N508m and another of N1bn without their consent.

They alleged that after liquidating the shares pledged as collateral under the N508m loan, the bank improperly attempted to use the same execution page to enforce the N1 bn loan.

Meanwhile, police investigations that were conducted yielded inconclusive results.

In one of the reports, arbitration was recommended between the parties, while another dismissed the forgery allegations.

Nevertheless, the appellate court held that such reports could not resolve the lingering doubts surrounding the authenticity of the document in question.

Justice Bassi noted several irregularities in the pagination of the deed.

The main pages were numbered from “2 of 9” to “9 of 9,” while the execution page carried the notation “11 of 17,” indicating that it was likely sourced from an entirely different document.

He criticised the trial court for overlooking these anomalies and focusing solely on the interpretation of Clause 6 of the mortgage deed.

According to the appellate court, a document whose authenticity is in dispute cannot form the basis for adjudicating parties’ rights and obligations.

Justice Bassi held: “The lower court erred by ruling on a document whose authenticity was seriously in question. This appeal succeeds.

“The judgment of the lower court dated June 20, 2014, is hereby set aside. Parties shall bear their respective costs.”
(PUNCH)

Metro

Police Arrest Ex-Soldier, Four Others Over Armed Robbery, Kidnapping In Anambra

Published

14 hours ago

August 28, 2025

Editor

The Anambra State Police Command has confirmed the arrest of five suspected members of a notorious armed robbery and kidnapping syndicate, including a confessed deserter of the Nigerian Army, in Awka, the state capital.

According to a statement issued on Thursday by the Public Relations Officer of the Command, SP Tochukwu Ikenga, the operation was carried out on Wednesday, August 27, 2025, by operatives of the Rapid Response Squad (RRS) in Awkuzu.

Ikenga said the operation was carried out after the Command received intelligence on the abduction of a farmer at Isiagu, Awka.

The victim was reportedly released after an undisclosed amount of ransom was paid.

The police spokesperson said that, acting on credible intelligence, police operatives stormed the gang’s hideout at Notoko, Awka, leading to the arrest of the confessed deserter soldier and four other suspects.

Ikenga identified the suspects as 38-year-old Dominic Oraz, a confessed deserter of the Nigerian Army; 30-year-old Michael Nwobodo; 29-year-old Eze Friday; 23-year-old Uche Okolo, and 29-year-old Chinedu Gilbert.

“Exhibits recovered from the suspects include six automatic pump-action guns, 63 rounds of live cartridges, one microscope, five machetes, one military cap, two police teargas canisters, handcuffs, a robber’s rocket launcher, criminal charms, three Motorola walkie-talkies, one jack knife, one power bank and cash sum of N26,000,” Ikenga stated.

He said that during interrogation, Oraz admitted abandoning the military in November 2024.

Ikenga noted that investigations are ongoing, particularly regarding the deserter soldier, in collaboration with military authorities, to guide further police action and prosecution of all suspects.

He said the Commissioner of Police, CP Ikioye Orutugu, commended the operatives for the operation and urged residents of the state to remain vigilant and to continue to report suspicious activities to the Police for prompt action.

The commissioner also assured Ndi Anambra of the Command’s unwavering commitment to combating violent crimes.

Metro

Police Arrest Ex-Soldier, Four Others Over Armed Robbery, Kidnapping In Anambra

Published

15 hours ago

August 28, 2025

Editor

Ikenga said the operation was carried out after the Command received intelligence on the abduction of a farmer at Isiagu, Awka.

The victim was reportedly released after an undisclosed amount of ransom was paid.

He said that during interrogation, Oraz admitted abandoning the military in November 2024.

Ikenga noted that investigations are ongoing, particularly regarding the deserter soldier, in collaboration with military authorities, to guide further police action and prosecution of all suspects.

The commissioner also assured Ndi Anambra of the Command’s unwavering commitment to combating violent crimes.

Metro

Enugu Vigilantes Beat Young Man To Death Over Alleged Stealing Of Woman’s Clothes

Published

15 hours ago

August 28, 2025

Editor

Members of the Neighbourhood Watch in Amagu Iwollo Oghe community, Ezeagu Local Government Area of Enugu State, have allegedly beaten a young man, Mr. Nosike Madueke, popularly known as Wojuwo, to death over a false theft allegation.

Community sources told SaharaReporters that the vigilante group was led by the Chief Security Officer (CSO) of the community, Mr. Chukwuebuka Hillary Ngwueche, also known as Osuofia.

According to one of the sources, the incident occurred on Monday, August 25, 2025, when the local security men attacked Madueke with “dangerous weapons” after he was accused of stealing a box of clothes belonging to Mrs. Nneka Nwankwo.

The source explained that Nwankwo had earlier hired Madueke and his co-workers to repair or dig her septic tank and soakaway, but later raised an alarm claiming her box of clothes had gone missing.

“Instead of handing Madueke over to the appropriate authority, especially the police, they decided to jointly and severally take the laws into their respective hands by arresting Madueke, dragging him to his house for a search, bringing out his clothes, and burning all the clothes,” the source said.

“They tied Madueke on both his hands and legs and started profusely, taking turns by using offensive weapons such as guns, machetes, and irons, to beat him up till he died.”

“This happened in public at Iwollo Oghe Square. How can a trained CSO and his men kill a whole human being on a mere allegation by a woman of stealing her cloth, which was later found,” the source said.

“The young boy was from Imeziolo, Ezeagu LGA of Enugu State.”

According to another source, this marks the third time residents of Iwollo Oghe, either directly or through its purported security outfits, have been linked to the killing of people from the deceased’s community.

“Sometime in 1987, they shot Hyacinth Adinde with a gun and asked the people of Madueke community to do their worst.

“Also, years later, they killed Engr. Christopher Aniagbaoso, and yet they asked the people of the community to do their worst.

“The people of Iwollo Oghe are in the habit of killing the people of Imeziolo on mere suspicious grounds,” the source alleged.

“We call on the Enugu State command to do justice to this case as information reaching us revealed that the men are on the run after killing the young boy,” the source added.

A video obtained by SaharaReporters showed the deceased being beaten with sticks by men believed to be members of the Neighbourhood Watch, who were seen parading him along a community road.

Moments later in the footage, his lifeless body appeared on the ground, surrounded by residents, some of whom lamented, “See how they killed somebody’s only son for nothing.”

According to a source, the case has since been reported to the State Criminal Investigation Department (SCID) of the Enugu State Police Command.

However, repeated attempts by SaharaReporters to obtain the reaction of the Police Command were unsuccessful.

Calls to the mobile phone of the Command’s spokesperson, DSP Daniel Ndukwe, went unanswered, and a WhatsApp message sent to him also received no response as of the time of filing this report.