Metro

GTBank Loses Bid To Reclaim MKO Son’s Lagos Mansion

Published

2 months ago

June 20, 2025

Editor

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

Six Killed, Nine Injured In Fatal Crash On Lekki–Epe Expressway

Published

1 hour ago

September 1, 2025

Editor

Six people were confirmed dead, and nine others sustained injuries in a road accident at Ibeju Bus Stop along the Lekki–Epe Expressway in Lagos State.

The Lagos State Traffic Management Authority said the crash occurred on Monday when a blue Volvo FL6 truck loaded with wooden planks rammed into a white commercial bus with registration number AKD 336 YD.

The fatalities included two men, three women, and a child. Four other occupants of the bus escaped unhurt.

LASTMA’s Director of Public Affairs and Enlightenment, Adebayo Taofiq, said officials, with support from other emergency responders, swiftly rescued the survivors.

“The nine injured survivors were swiftly extricated by LASTMA officials with support from other emergency responders and immediately conveyed to the Federal Medical Centre (FMC) Epe and Hammond Hospital for urgent medical attention.”

He added that LASTMA worked in collaboration with the Federal Road Safety Corps, the Nigeria Police Force, and the Lagos Neighbourhood Safety Corps to evacuate victims and clear the accident scene.

LASTMA General Manager, Olalekan Bakare-Oki, condoled with the bereaved families and cautioned motorists against reckless driving, particularly overspeeding. He urged drivers to remain vigilant, obey traffic laws, and avoid distractions, especially during the Ember Months, a period known for frequent road crashes.

He added that the remains of the deceased had been deposited at the FMC morgue in Epe, awaiting formal identification by their families.

Taofiq said the four unhurt survivors received immediate attention from the LASTMA Rescue Unit, working with other agencies.

Metro

NSCDC Arrests 84-year-old, Teenager For Vandalism

Published

2 hours ago

September 1, 2025

Editor

The Nigeria Security and Civil Defence Corps, Gombe State Command, has paraded an 84-year-old man and a 14-year-old boy arrested for alleged vandalism of transmission power cables in the state.

Addressing journalists at a press briefing on Monday, the Public Relations Officer of the Command, Superintendent of Corps Buhari Saad, who represented the State Commandant, Jibril Idris, said the duo were apprehended with several meters of vandalised aluminium cables.

According to him, the suspects, identified as Salisu Muhammad, 84, of Anguwa Idi, Gombe, a scrap marketer, and Muhammad Tahiru Babayo, 14, of Anguwa Dawaki, Gombe, a welder and fabricator, were caught with the items at Salisu’s shop located in Anguwa Uku.

“The two were involved in the act of vandalism and were caught with critical national assets, transmission power cables.

“They will be charged to court for vandalism and unlawful possession of vandalised items,” the commandant stated.

The NSCDC boss noted that the arrest was part of renewed efforts by the command to protect critical national infrastructure from criminals who target public utilities for selfish gains.

He warned vandals to desist from the illegal act or leave the state entirely, stressing that the command will continue to track and apprehend perpetrators of such crimes.

“We want to strongly warn vandals to steer clear of Gombe State. We will get them wherever they are.

“Security agencies are determined, but we also urge citizens to report suspicious activities because security personnel are not spirits and cannot be everywhere,” he added.

Metro

Father, Son, 72-year-old Arrested For Defiling Minors

Published

2 hours ago

September 1, 2025

Editor

The Nigeria Security and Civil Defence Corps on Monday paraded a father and son over the rape of a 13-year-old girl.

The father, Ibrahim Haruna, a 48-year-old and his 15-year-old son, Abdusalam Ibrahim, were identified as suspects.

Parading the suspects at the command’s headquarters in Gombe, the Public Relations Officer, SC Buhari Saad, decried the spate of kidnapping in the state.

He said, “The second category of people that we have, we have three suspects that are involved in rape, gross indecency and defilement.

“They are, one, Ibrahim Haruna, aged 48, of Jekarifari. He is a tailor by occupation. We also have Abdusalam Ibrahim, aged 15, of Jekadefari.

“The two people were involved in some acts of rape, gross indecency and defilement.

“It’s now a worrisome pattern; the case of rape is taking place in the state. The father has been committing this act of rape at his shop, while the son usually takes his turns at their residence. They took advantage of the young girl who is 13 years old.

“She happens to be their neighbour who has some mental illness. So they took advantage of her and have been raping her serially.”

Also paraded was 72-year-old Balarabe Suleiman, from Yelanguruza, who was alleged to have lured a 13-year-old girl into his car and raped her serially.

“He’s been giving her the sum of N200 for every act. And in this instance, it is the lady, the young girl, who became tired of his escapade and informed her parents. The case is still under investigation”, he added.