Union Bank of Nigeria Plc has claimed ownership of Flat 7B in Osborne
Towers, Ikoyi, where huge cash was found earlier this year.The
money which has been forfeited to the Federal Government on June 6,
included 43,449,947 (about N13 billion), N23, 218,000 and £27,800 (about
N10.6 million).
In its pending application, the bank is praying
the Federal High Court in Lagos to vacate an interim order forfeiting
the flat to the federal government.
The
Economic and Financial Crimes Commission (EFCC) had accused a former
Director-General of the National Intelligence Agency (NIA), Ayo Oke, of
fraudulently converting the agency’s funds.
It alleged that Oke’s wife, Folasade, used part of the funds to buy the flat.
The court, on November 9, ordered the flat’s temporary forfeiture to the federal government.
Justice Saliu Saidu ruled that it would be permanently forfeited if no one turned up to justify ownership within 14 days.
Union
Bank’s lawyer, Ajibola Aribisala (SAN), said on Thursday he filed an
application seeking to vacate the interim forfeiture order.
In a
supporting affidavit, the bank said the flat was part of 16, Osborne
Road, Ikoyi, belonging to the former National Chairman of the Peoples
Democratic Party (PDP), Alhaji Adamu Mu’azu.
It said the property
was covered by a Certificate of Occupancy dated September 27, 2009 and
registered as 97/97/2009 in the Lands Registry Office, Alausa, Ikeja,
Lagos.
According to the bank, Alhaji Mu’azu mortgaged the
property to it by virtue of Tripartite Deed of Legal Mortgage dated
November 1, 2011.
Union Bank said the property was a security for a loan granted to Tripple A Properties & Investment.
The bank further claimed that the property’s original titled deed had been vested in it (the bank).
Besides, it said the loan was yet to be liquidated despite its tenor expiring.
The bank claimed it sold the property to Chobe Ventures Limited to liquidate the loan.
EFCC, in its counter affidavit, argued that the bank lacks the locus standi to challenge the forfeiture.
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