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Tag Archives: Property

EFCC arraigns developer over messy property deals

EFCC

The Economic and Financial Crimes Commission, EFCC at the weekend arraigned one Joseph Idakho alongside his company, Zamtrac Management, and City Investment Limited, before Justice D. Z. Senchi of the Federal Capital Territory, FCT, High Court, Jabi, Abuja, for alleged conspiracy, forgery and criminal breach of trust. He allegedly defrauded one Hajiya Halima Babangida in a real estate development transaction ...

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N537m debt: Court orders forfeiture of Donald Duke’s property

Donald Duke

The Federal High Court in Lagos has ordered the Asset Management Corporation of Nigeria and United Bank for Africa to take over an Ikoyi, Lagos property of a former governor of Cross River State, Mr Donald Duke, over an alleged debt of N537,334,360.77. The court made the takeover order in an August 8, 2019 ruling by Justice Chuka Obiozor. The ...

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Okorocha fumes over seizure of property by Imo govt

Okorocha

The immediate-past governor of Imo State, Rochas Okorocha, has expressed outrage over the confiscation of one of his personal houses by the state government. He threatened that he could no longer hold on and see his successor, Emeka Ihedioha, continue to ridicule him. Okorocha, speaking on telephone with our correspondent, alleged that the Secretary to the State Government, Uche Onyeagucha, ...

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Risks to Avoid When Using Leverage in Real Estate

Leverage is the use of various financial instruments or borrowed capital to purchase and/or increase the potential return of investment—the term is used on both Wall Street and in the Main Street real estate market. The easiest example for real estate is a mortgage, where you’re using your own money to leverage the purchase. In most cases, a 20% down ...

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Committee accuses Okorocha’s aides of looting N50bn govt property

property

The Chairman of the Committee on Recovery of Missing Government Movable Property in Imo State, Chief Jasper Ndubuaku, has disclosed that officials of the administration of former Governor Rochas Okorocha left with the state government’s property worth N50bn. The state governor, Chief Emeka Ihedioha, set up the committee shortly after he was sworn in. Addressing journalists in Owerri, the state ...

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Presidential panel arraigned over illegal take over of property

property

The Special Presidential Investigation Panel on Recovery of Public Property (SPIP) has been dragged before a Federal High Court, Abuja for allegedly taken over a multi-million naira property belonging to a private investor. The investor, D. B Mangal Ltd is praying the court for an order stopping the panel from sealing off its property and forcefully ejecting, harassing and intimidating ...

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Man docked for allegedly destroying property worth N160, 000

property

A 26-year-old unemployed man, Izuchukwu Bertram, was on Tuesday docked in an Ikorodu Magistrates’ Court in Ikorodu, Lagos, over alleged malicious damage. The accused whose address was not provided is charged with willful damage. READ ALSO: Robbery suspect in Ikoyi nabbed for stealing N14m property The Prosecutor, Sgt. Adegeshin Famuyiwa told the court that the accused committed the offence on ...

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EFCC unseals buildings allegedly linked to Fayose in Ekiti

Fayose

The Economic and Financial Crimes Commission has unsealed some properties it allegedly linked to a former governor of Ekiti State, Mr. Ayodele Fayose, in Ado Ekiti, the state capital. Men believed to be EFCC personnel in a white-coloured bus with the number plate – BWR 627 AT – with police protection, on Thursday erased the markings from the buildings with ...

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Court overturns property forfeiture linked to Bala Mohammed

Bala Mohammed

Justice J.S. Tsoho of the Federal High Court Abuja discharged and set aside the interim order of forfeiture on grounds that EFCC had failed to prove that Bala Mohammed was the owner of the property. An Order of Interim Forfeiture of property allegedly belonging to Bauchi States Governor, Bala Mohammed obtained by the Economic and Financial Crimes Commission (EFCC), had ...

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Widow raises alarm over invasion of property by EFCC

houses

An Abuja-based widow, Aisha Abubakar, has raised an alarm over the alleged invasion of her property by EFCC. The property is located at Plots 2070 and 2071, Cadastral Zone AO2, Wuse Zone 3, near Tamara Guest Inn, by the National Council for Arts and Culture (NCAC). Abubakar, who is also the managing director/chief executive officer, Sam’s Engineering Limited, told newsmen ...

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