The Federal High Court in Lagos has placed a Victoria Island property linked to Maryam Abacha, widow of the late Nigerian military ruler Sani Abacha, under interim receivership amid a dispute with a property development company.
A Certified True Copy of the order, seen on Friday, shows that Justice Ambrose Lewis-Allagoa made the order on September 29. It appoints the court’s Deputy Chief Registrar or an official receiver as receiver/manager of the property at No. 68 Molade Okoya Thomas Street, off Ajose Adeogun Street, Victoria Island.
The judge also restrained Levitikal Realties & Construction Limited, its agents, directors and anyone acting on its behalf from selling, transferring, assigning, mortgaging, leasing, charging or otherwise dealing with the property.
The order followed an ex parte application filed by Mrs Abacha in suit number FHC/LAG/CS/1245/2026.
How the dispute started
In an affidavit supporting the application, Mrs Abacha’s son, Sadiq Mohammed Abacha, said his mother is the registered owner of the property, covered by a Certificate of Occupancy dated July 4, 1988.
He said she entered a Property Development Joint Venture Agreement with Levitikal on May 13, 2021, to redevelop the land into 18 three-bedroom flats, with nine of the completed units going to the company as consideration.
According to him, neither the agreement nor a subsequent power of attorney transferred ownership of the land to Levitikal.
He alleged that the company breached the agreement by failing to obtain statutory building approval and to complete the project within the agreed period. Mrs Abacha, he said, revoked the power of attorney in May and terminated the agreement.
The parties were expected to first try mediation and, failing that, proceed to arbitration.
Alleged use as collateral
The affidavit also alleged that Levitikal used the property as collateral for credit facilities from Providus Bank Limited, despite having no interest in the land that could be used as security.
“The defendant presently possesses no assignable, transferable, registrable or chargeable interest capable of being used as collateral or security for any financial accommodation whatsoever,” Mr Abacha stated.
He further alleged that the company continued to market the property to prospective buyers after the joint venture was terminated.
The court has not determined these allegations.
What the court ordered
Pending the hearing of the motion on notice, the Deputy Chief Registrar or an official receiver is to take possession, custody and control of the property.
The judge also allowed the appointment of a property management firm, including Bola Adebule & Company, Estate Surveyors and Valuers, or another suitable firm registered with the Lagos State Real Estate Regulatory Authority.
Mrs Abacha was authorised to publish the order in national newspapers and online media, at her own cost, to notify prospective buyers, lenders, investors and other interested parties.
The court also directed the Nigeria Police Force, the Inspector-General of Police, the Assistant Inspector-General of Police for Zone 2, the Lagos State Commissioner of Police, the EFCC and other relevant security agencies to provide security and assist in enforcing the order.
The order is interim and does not finally determine ownership of the property or the parties’ substantive rights.
The case was adjourned until November 9.
READ ALSO:
- LASTMA Warns Nigerians Against Consuming Spilled Groundnut Oil After Tanker Accident in Lagos
- 2027 Elections: IGP Disu Promises Nigerians Professional Police Conduct
- Ghana Repatriates 120 Nigerians Rescued From Cybercrime Network
- INEC Blames Supreme Court Ruling for Dropping Adebutu, Pantami from Governorship List
- Otunba Gbenga Daniel’s Foundation Brings Free Surgeries to 14 Ogun East Locations
