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

31 Die In Niger Fuel Tanker Explosion

Published

4 hours ago

October 21, 2025

Editor

At least 31 people died and several others were injured while scooping fuel from a petrol tanker conveying Premium Motor Spirit, which exploded along the Bida-Agaie highway in Niger State on Tuesday.

According to a statement signed by the state Police Public Relations Officer, Wasiu Abiodun, the accident occurred around 2:40 pm near Essa Village via Katcha.

“There was a lone tanker vehicle accident along the Bida/Agaie highway, and as a result, the tanker conveying PMS fell by the roadside,” he said.

Abiodun added that residents rushed to the scene to scoop fuel from the overturned tanker, at which point it was suddenly engulfed in an inferno.

“Unfortunately, members of the public living around Essa village via Katcha rushed to the scene and were scooping PMS and in the process, the tanker suddenly engulfed in inferno.

“Forty-eight persons were affected by the fire, and among these victims, thirty-one persons lost their lives while others are still receiving treatment in various nearby hospitals.

“Three motorcycles were also burnt,” the spokesperson said.

Abiodun said officers and other security agencies were deployed to the scene for rescue operations.

He said further investigations are ongoing to identify the driver and owner of the tanker involved.

“Teams of policemen and other security agencies were moved to the scene for a rescue operation. Further investigation is ongoing to identify the driver and the owner of the said tanker,” Abiodun concluded.

Meanwhile, Federal Road Safety Corps told the News Agency of Nigeria that 35 persons are feared dead, while 46 others sustained varying degrees of injuries in the explosion.

The Niger FRSC Sector Commander, Aishatu Sa’adu said the injured victims were evacuated to the Federal Medical Centre, Bida, with the support of FRSC personnel, villagers, and some good Samaritans.

She also warned members of the public against scooping fuel from accident scenes, describing it as a dangerous act that had claimed many lives in the past.

“It is God that gives wealth. People should avoid greed and be content with what God has given them,” she added.

An eyewitness told NAN that the accident occurred around 11 a.m. on Tuesday at Essan/Badeggi communities along the Bida–Agaie road in Katcha Local Government Area.

(PUNCH)

Metro

Teenager Arrested For Allegedly Removing Sister’s Eyes For Money Ritual

Published

6 hours ago

October 21, 2025

Editor

The Bauchi State Police Command has arrested a 17-year-old boy, Auwalu Muhammad, for allegedly gouging out his sister’s eyes for a money ritual in Wailo, Ganjuwa Local Council of Bauchi State.

Police said the incident occurred on October 17, 2025, when Auwalu lured his sister, Rukayya Muhammad, into a bush and attacked her, removing both of her eyes in what he described as an attempt to acquire wealth.

The Command’s spokesperson, SP Ahmed Wakil, said the victim’s father reported the matter to the police after discovering the brutal act. He added that a medical specialist confirmed that Rukayya had lost her sight permanently.

“During interrogation, the suspect voluntarily confessed to the crime. Investigation is ongoing to uncover the motive behind the act and to bring all individuals connected to justice,” Wakil said.

The police also arrested six others in connection with the incident. They were identified as Auwal Dahiru (17), Mohammed Rabiu (19), Saleh Ibrahim (20), Nasiru Muhammad, Hassan Garba, and Garba Dahiru (43), all residents of Ganjuwa Local Council.

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.