Connect with us

News

Abiola’s Son Recovers N30bn Property From GTBank

Published

on

Abiola's Son Recovers N30bn Property From GTBank

In a landmark ruling yesterday, the Lagos Division of the Court of Appeal overturned a 2013 Federal High Court judgment in the case of RCN Networks Ltd v. Guaranty Trust Bank PLC (CA/L/888/2014), effectively restoring ownership of a 44-room mansion valued at ₦30 billion to Alhaji Agboola Abiola, son of the late June 12, 1993, presidential election winner, Bashorun M.K.O. Abiola.

The Federal High Court’s original decision had led to what the Appellate Court described as the “unlawful foreclosure” of the property by Guaranty Trust Bank (GTBank). In its unanimous judgment, the three-member panel held that the trial court “ignored glaring discrepancies on the execution page” of a tripartite legal mortgage registered against the mansion at the Lagos State Land Registry.

Among the defects noted by the Appeal Court was that the mortgage document was never signed by Alhaji Abiola, the alleged mortgagor. The court also highlighted that its footer contained “handwritten alterations not present on other pages,” which the Appellant had argued pointed to outright forgery by GTBank. These deficiencies, the court concluded, rendered the mortgage “so deficient that it was incapable of conferring on the said bank any legal rights to foreclose on the property.”

Upon establishing these facts, the Court of Appeal discharged all charges and encumbrances that GTBank had levied on the property in favour of RCN Networks Ltd. Dr. Charles Adeogun-Phillips, SAN, appeared for the Appellant, while Mr. Norrison Quakers, SAN, represented GTBank.

The decision not only vindicates the Abiola family’s claims but also sets a significant precedent on the strict requirements for mortgage documentation and execution in Nigeria’s land registration system.

Politicsnigeria.com

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

BREAKING: Winner Emerges In Kano Bye-Election As APC, NNPP Lock Horns

Published

on

The All Progressives Congress (APC) has emerged winner of the Ghari/Tsanyawa supplementary election in Kano state

The returning officer, Professor Muhammad Waziri of Bayero University, declared Garba Ya’u Gwarmai of the APC winner with 31,472 votes

Waziri defeated the candidate of the New Nigeria Peoples Party (NNPP), Yusuf Ali Maigado, who polled 27,931 votes

2027: Pat Utomi Opens Up On working On A New Mega Party
The All Progressives Congress (APC) has secured victory in the Ghari/Tsanyawa supplementary election held in Kano state.

Announcing the results on Sunday morning, August 17, the returning officer (RO), Professor Muhammad Waziri from Bayero University, declared APC candidate Garba Gwarmai the winner with a total of 31,472 votes.

He defeated the candidate of the New Nigeria Peoples Party (NNPP), Yusuf Maigado, who polled 27,931 votes, according to The Punch.

The supplementary poll was conducted after the initial election in the constituency was declared inconclusive. With a margin of 3,541 votes, Gwarmai’s victory marks a key win for the APC as the party continues to reinforce its influence across the state.

Meanwhile, the NNPP won the Bagwai/Shanono state assembly by-election in Kano state.

Daily Trust and Vanguard noted this update.

Announcing the result at 12:36 a.m. on Sunday, August 17, the RO for the election, Prof. Hassan Adamu Shitu, declared the NNPP candidate, Ali Hassan Kiyawa, winner with 16,198 votes, defeating the APC candidate, Ahmad Muhammad Kadamu, who polled 5,347 votes.

Continue Reading

News

Tinubu’s Government Lacks Effective Communication Strategy  - Babangida

Published

on

Nigeria, Benin Sign Integration Pact

Former Governor of Niger State, Dr. Babangida Aliyu, has said that the administration of President Bola Tinubu is performing well but lacks an effective communication strategy to relay its achievements to Nigerians.

Aliyu made the statement on the Thursday edition of Arise Television’s ‘The Morning Show’, while reacting to the outcome of a recent public accountability session held in Kaduna.

Aliyu, reflecting on the discussions at the Kaduna Forum, said the government is facing public dissatisfaction not because it hasn’t delivered, but because it is failing to tell its own story effectively.

The ex-governor said it is proper for political leaders in the North to make demands from Tinubu’s administration since the bulk of the votes that took power came from the region.

“Let the people understand what is happening on the ground. If by what we say that 63/64 percent of the vote came from the north, it is only logical that the north will be expecting so much from the government.

“But from what we have seen so far is that the government is doing well but they do not know how to communicate very well,” he said.

 

Continue Reading

News

New Twist As El-Rufai Snubs ADC, Announces Another Party To Vote In Kaduna Bye-Election [ Video Trends]

Published

on

Former Kaduna governor, Nasir El-Rufai, appeared to have taken a reverse from the coalition’s adopted political platform, ADC

This is as the former governor took to social media and asked the people of Zaria, Chikun to vote for another party in the Saturday, August 16 (today), bye-elections in the constituencies in Kaduna

Recall that the former governor recently visited Sokoto to canvass support for the ADC, while criticising President Bola Tinubu and the APC government.

Click to watch El-Rufai’s video here

Nasir El-Rufai, the immediate past governor of Kaduna, has fueled speculations that he dumped the recently adopted coalition political platform, African Democratic Congress (ADC), as he called on the people of Chikun/Kajuru federal constituency and Zaria Kewaye and Basawa state constituency to vote for the Social Democratic Party (SDP).

However, in a dramatic turn, the former governor urged the people of Zaria and Chikun to vote for the SDP in the Saturday, August 16, by-election, a poll which was meant to test the opposition’s strength ahead of the 2027 general election.

Recall that El-Rufai defected to the SDP after dumping the ruling All Progressives Congress (APC), but soon after joining the party, the SDP fell into a leadership crisis, and the former governor has been silent on his membership and allegations against him.

El-Rufai recently visited Sokoto on a mission to gather support for the ADC. He described his action as a patriotic one to rescue Nigeria from the grip of ‘nepotism’ and ‘incompetence’.

During his visit to Sokoto, the former governor attended two important events meant to sensitise the people and political stakeholders working to achieve the agenda of sacking President Tinubu and the APC in the next general election.

During his address at the event, the former governor lambasted the ruling party and called them ‘a failed, clannish, and visionless administration that has plunged Nigeria into deeper socio-economic misery’.

He declared that it was time for Nigerians to rise against the APC and accused the party of ‘broken promises and elite conspiracy’. He warned that any move to vote for the APC beyond 2027 would be a greater doom for the country.

However, in a sharp turn, the former governor, in a video posted on his social media page ahead of the by-election, urged the people in the constituencies where the poll will be held in Kaduna on Saturday, August 16, to vote for the SDP rather than the ADC he went to Sokoto to canvass for.

Continue Reading

Trending