Metro

GTBank Loses Bid To Reclaim MKO Son’s Lagos Mansion

Published

6 hours 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

Troops Engage Terrorists In Fierce Gun Battle To Repel Gwoza Invasion

Published

14 minutes ago

June 20, 2025

Editor

Troops of Operation Hadin Kai are currently engaged in a fierce gun battle with armed terrorists suspected to be Boko Haram/ISWAP fighters in Gwoza Local Government Area of Borno State.

Gwoza, located about 136 kilometers from Maiduguri, shares borders with the Mandara Mountains in Cameroon and the Sambisa Forest — notorious hideouts for insurgents.

According to sources, the attackers launched an attempted invasion of Gwoza town shortly after Friday Jummat prayers. Residents reported heavy gunfire and multiple explosions in parts of the town as troops mounted a strong and tactical resistance to repel the assault.

Security operatives are said to be working relentlessly to safeguard lives and property in the area, with reinforcements reportedly deployed to support ongoing operations.

Metro

Man Kills 71-year-old Mother In Akwa Ibom

Published

18 minutes ago

June 20, 2025

Editor

A man identified as Alexander Peter has been arrested by the Akwa Ibom State Police Command for allegedly hacking his 71-year-old mother, Mrs. Atiny Peter, to death with a machete.

The incident occurred in Ikot Inyang village, located in Oruk Anam Local Government Area of the state.

The arrest was confirmed by the State Commissioner of Police, CP Baba Mohammed Azare, during a press briefing held on Thursday, at the police headquarters in Ikot Akpan Abia, Uyo.

The police commissioner disclosed that the suspect, Alexander, was apprehended on June 10, and that investigations are currently ongoing to determine the motive behind the brutal act.

“The gruesome incident occurred in Ikot Inyang Village, Oruk Anam Local Government Area, where the suspect reportedly used the machete to hack his mother to death,” Azare said, noting that the command is working to “unravel the circumstances surrounding the incident and determine the motive behind the heinous crime.”

The CP also announced that a total of 54 suspects were arrested across the state in the last six weeks for various criminal offences.

In addition, the command recovered over 50 arms and rounds of ammunition during the same period.

According to The PUNCH, the murder has sparked concern in the community, with residents shocked over the violent death of the elderly woman at the hands of her own son.

Police said more details will emerge as investigations progress.

Metro

Men In Viral Weed-smoking Video Charged With Cybercrime, Remanded In Sapele Prison [Watch Viral Video]

Published

28 minutes ago

June 20, 2025

Editor

The two suspects who were arrested by the Delta State Police Command after appearing in a viral video smoking what is suspected to be marijuana while sitting on a police patrol van and making obscene gestures at law enforcement officers have been charged with cyberbullying and cyberstalking.

This was made known in a statement shared by the Delta State Police Public Relations Officer, SP Bright Edafe, on X (formerly Twitter) on Friday.

The suspects, Patrick Junior Asini, 34, and Tega Ojo, 20, were arraigned before the Oghara High Court on a three-count charge bordering on cyberbullying and cyberstalking, contrary to Sections 24 and 27 of the Cybercrime (Prohibition, Prevention, etc.) Act, among other charges.

They have since been remanded at the Sapele Custodial Centre.

The statement said, “The two suspects have been charged to the Oghara High Court and presently remanded at Sapele prisons on a three-count charge of count 1-Cyberbullying, Cyber Stalking contrary to sections 24&27 of the Cybercrime Prohibition Act amongst other charges.”

The suspects were arrested after a video surfaced online showing them smoking what appeared to be cannabis while seated on a police patrol van marked “Nigeria Police Force Anti-crime Patrol, Oghara Division.”

In the video, originally shared by user #dammiedammie35, one of the young men was seen sitting on a police patrol van bearing the inscription “Nigeria Police Force Anti-crime Patrol, Oghara Division,” while smoking.

Another voice in the background was heard saying, “Tell them, f*** the cops, bro. Pass me some weed, man,” while flashing his middle finger towards an officer in the distance.

The video, believed to have been recorded at a car wash, triggered outrage among users on the social media platform X and drew the attention of the police.

Watch video below:

https://twitter.com/i/status/1933546476346437966https://twitter.com/i/status/1933546476346437966

(PUNCH)