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Tag Archives: Property

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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Lawyer, three others close defence over alleged sale of late woman’s property

aluminium windows

LAGOS – A legal practitioner, Kole Bello who is standing trial for allegedly selling a dead woman’s property with forged documents has closed his defence before Justice Oluwatoyin Taiwo of the State High Court, Ikeja. The Lagos State Government had arraigned the lawyer, Bello before the court alongside Chukwu Victor, Friday Palmer, and Osumah Terry sometimes in October 2017, on ...

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Estate agents arraigned for dishonestly selling property

Estate agents

The police on Tuesday arraigned two estate agents who dishonestly sold a four-bedroom apartment for N3.5 million in an Ilorin Magistrates’ Court. Ahmed Saka and Zubairu Olasunkanmi are charged with four counts of Criminal Conspiracy, Criminal Breach of Trust, Cheating and Obtaining Property by false pretenses. The Prosecutor, Insp Isaac Yakub, informed the court that the suspects sold the house ...

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Chisco drags Oyelowo estate administrators to court over property

Chisco

Chisco Transport Nigeria Limited has dragged the administrators of the estate of Chief Joseph Akanbi Oyelowo, Mr Oladuuni Oyelowo, and Mr. Olatunji Oyelowo before a Lagos High court, Igbosere over the property situated at no 6 Ikorodu road, Jibowu Yaba. The claimant in the suit no LD/5324GCMW/18 asked the court to declare that Lagos State Government is the lawful owner ...

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