Metro

GTBank Loses Bid To Reclaim MKO Son’s Lagos Mansion

Published

4 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

Bauchi: Auto Crash Claimed 432, Injured 2,070 Persons In 1 Months — FRSC

Published

1 day ago

October 20, 2025

Editor

The Federal Road Safety Corps (FRSC) says no fewer than 432 persons had been killed while 2,070 persons were injured in auto crashes within one month across the country.

Shehu Mohammed, the Corps Marshal of FRSC stated this in Bauchi on Monday in a news conference to flag off the 2025 Ember Months public enlightenment and sensitisation campa on road safety.

According to him, the figure was as a result of 533 reported cases of auto crashes that took place between January 15, 2024 and January 15, 2025 in the country.

Represented by Corps Commander Apaji Boyi, the Sector Commander, FRSC, Bauchi, Mohammed said that some of the major causes of those crashes were driver fatigue, overloading of persons, conveyance of persons in haulage vehicles and traveling with fuel in plastic containers.

While emphasising that driver behaviour was a fundamental element in determining safety on highways, said some road traffic infringements by drivers responsible for the previous road crash records included speed limit violations.

“These infringements also include failure to adhere to road traffic rules and regulations, speed limit violations, driving under influence of alcohol and drugs, seat belt violations as well as using of phones while driving among others.

“Therefore, the choice of the 2025 end-of-year campaign with the theme ‘Taking Responsibility for Your Safety’ was deliberate and well thought out.

“It was carefully chosen to address road traffic infringements by drivers which were largely responsible for the previous road crash records.

“In line with our commitment to achieve the desired outcome of the 2025 end of year campaign, FRSC has deployed personnel and Special Marshals across major highways and crash-prone corridors nationwide,” he said.

The Corps Marshal added that the corps would also be embarking on free-vehicle check exercise to improve vehicle road worthiness, conducting motor park rallies and motorcar carnivals nationwide to raise awareness level of motorists and the general public.

Mohammed, who said that the Federal government’s support had been responsible for the modest achievement of the FRSC over the years, appreciated the government for its advisory oversight.

He called on all and sundry to continue to support the Corps as it strives to create a safer motoring environment for the nation.

Metro

Sowore Mobilises Supporters For #FreeNnamdiKanu Protest

Published

1 day ago

October 20, 2025

Editor

Human rights activist and former presidential candidate, Omoyele Sowore, has urged Nigerians to join a nationwide protest demanding the release of detained Indigenous People of Biafra’s leader, Nnamdi Kanu, despite a court order restricting demonstrations around key government areas in Abuja.

In a post on X (formerly Twitter) on Monday morning, Sowore called on citizens to take to the streets in peaceful protest.

“Good morning, wherever you may be this morning, do not stop moving. Carry a sign, sing a song, make a statement!” he wrote.

He had earlier shared a message on Sunday night welcoming participants to the protest tagged#FreeNnamdiKanuNow.

“We warmly welcome everyone who has travelled from far and wide to join the #FreeNnamdiKanuNow protest tomorrow. Your courage, sacrifice, and solidarity speak volumes. Together, we are writing history,” he wrote.

Sowore announced that protesters would converge in front of the Transcorp Hilton Hotel, Abuja, at 7 am, urging them to “come ready, come peaceful, come determined.”

He also shared a Facebook post that read, “We want to put one million people on the streets of Abuja tomorrow for #FreeNnamdiKanuNow — let’s make it happen.”

However, the planned march comes in defiance of an interim injunction issued by Justice Mohammed Umar of the Federal High Court, Abuja, which restrained Sowore and other organisers from protesting in or around sensitive government areas, including the Presidential Villa, National Assembly Complex, Force Headquarters, Court of Appeal, Eagle Square, and Shehu Shagari Way.

Reacting to the reported order on Saturday, Sowore questioned its legitimacy and the perceived double standards of law enforcement.

“Suppose a court order truly exists restricting protests around Aso Rock Villa; it begs the question: why hasn’t the same police force obtained a similar order against those protesting freely for three consecutive days opposing Nnamdi Kanu’s release?” Sowore asked.

“The hypocrisy is glaring. The double standards are undeniable,” he added.

The activist disclosed that his legal team, comprising 115 lawyers, would challenge the alleged court order once it is formally served on Monday.

He maintained that the planned October 20 #FreeNnamdiKanuNow protest would proceed as a peaceful and lawful march, declaring, “October 20 #FreeNnamdiKanuNow remains sacrosanct. We march peacefully, lawfully, and powerfully.”

The demonstration also coincides with the fifth anniversary of the #EndSARS protests of October 2020, which culminated in the alleged Lekki Toll Gate massacre — a period now remembered for its call for police reform and justice for victims of brutality.

Metro

Police Fire Tear Gas At #ReleaseNnamdiKanuNow Protesters In Abuja

Published

1 day ago

October 20, 2025

Editor

Security operatives on Monday fired tear gas canisters at protesters, including human rights activist Omoyele Sowore, who had gathered in Abuja to demand the release of the detained leader of the Indigenous People of Biafra, Nnamdi Kanu.

The protest, tagged #ReleaseNnamdiKanuNow, was planned to take off from the Transcorp Hilton area and other parts of the Federal Capital Territory (FCT), but was disrupted as police officers moved in early, firing multiple rounds of tear gas to disperse participants and passersby.

The operatives, who had cordoned off the hotel and adjoining streets, began firing tear gas even before protesters arrived in large numbers.

A visibly tightened atmosphere was observed across the city on the way this morning.

Soldiers, police, and operatives of the Department of State Services were deployed to key locations, including the Three Arms Zone, Eagle Square, Federal Secretariat, Unity Fountain, and routes leading to Aso Rock.