Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result
Home Business News

Access Bank again wins court case to take over former minister’s property

Damilare Famuyiwa by Damilare Famuyiwa
April 16, 2019
in Business News, Company News
Access Bank Plc

Access Bank

Share on FacebookShare on TwitterShare on Linkedin

Access Bank Plc on Monday, April 15, 2019, won a court case to take over Etiebet’s Place, a popular landed property in Lagos which belongs to a former Minister of the federation.

The property, which is located along Mobolaji Bank Anthony Way, is owned by a former Minister of Petroleum Resources, Chief Don Etiebet, in the name of his firm, Obodex Nigeria Limited.

In a ruling, Justice A. Liman of a Federal High Court in Lagos, rejected a motion on notice seeking to stop Access Bank Plc from taking over the property.

RelatedPosts

FUGAZ investors gain N59.66 billion combined during the week

FUGAZ capitalization dips by N47.62 billion combined during the week

The justice refused Obodex’s plea to stop the execution of an earlier judgement by Justice Ibrahim Buba, which empowered the tier-1 bank to take over the property.

The property tussle

Access Bank Plc had sued Obodex Nigeria Limited for alleged indebtedness. In response, the firm challenged the court jurisdiction to hear the suit.

News continues after this ad


Meanwhile, in December 2018, Justice Buba dismissed the objection by Obodex and ruled in favour of Access Bank Plc.

Pursuant to this, Access Bank Plc took over Etiebet’s Place and appointed Kunle Ogunba (SAN) as receiver/ manager to manage the property towards the recovery of the alleged debt.

Displeased over the development, Obodex filed an appeal as well as an application for a stay of execution.

News continues after this ad


In the application for  a stay of execution filed through its lawyer, Dele Adesina (SAN), Obodex sought an order restraining Kunle Ogunba (SAN) and his privies or assignees from doing the folloiwing:

“Advertising or offering for sale, selling, mortgaging, transferring, alienating or otherwise interfering with the applicant’s equitable right of redemption on the property situated and lying at 21 Mobolaji Bank Anthony Way, Ikeja, Lagos, also known as Etiebet’s Place, pending the hearing and final determination of the applicant’s appeals”.

However, Access Bank Plc, through Ogunba, opposed Obodex’s application for a stay of execution. But Justice Liman refused to stop the bank from taking over the property.

About Access Bank Plc

Access Bank Plc, together with its subsidiaries, provides various financial products and services primarily to individuals, multinationals, corporates, and institutional and non-institutional clients in Africa and Europe.

The company is currently trading N6.40 on the floor of the Nigerian Stock Exchange (NSE).

Related

Tags: Access Bank Plc NewsJustice A. LimanObodex Nigeria Limited

Leave a Reply Cancel reply

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

inq
avatrade
Stanbic bank
Mega Millions
UBN
Hot forex
Access Bank
Bankers Committee
First bank






    Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

    Recent News

    • Nigeria Data Protection Bureau probes UBA, Philips Consulting, for alleged data breach
    • Flour Mills of Nigeria Plc (FMN) Reaffirms its Commitment to Transformational Impact with the Release of its 2021/2022 Sustainability Report
    • Brain drain, tax and other economic effects of migration in Nigeria

    Follow us on social media:

    Recent News

    Nigeria Data Protection Bureau probes UBA, Philips Consulting, for alleged data breach

    Nigeria Data Protection Bureau probes UBA, Philips Consulting, for alleged data breach

    August 16, 2022
    Flour Mills of Nigeria Plc (FMN) Reaffirms its Commitment to Transformational Impact with the Release of its 2021/2022 Sustainability Report

    Flour Mills of Nigeria Plc (FMN) Reaffirms its Commitment to Transformational Impact with the Release of its 2021/2022 Sustainability Report

    August 16, 2022
    • ABOUT US
    • CONTACT US
    • PRODUCTS
    • ANDROID APP
    • iOS APP
    • DISCLAIMER
    • CAREERS
    • PRIVACY POLICY

    © 2022 Nairametrics

    No Result
    View All Result
    • Home
    • Exclusives
      • Financial Analysis
      • Corporate Stories
      • Interviews
      • Investigations
      • Metrics
    • Markets
      • Cryptos
      • Commodities
      • Equities
        • Dividends
        • Stock Market
      • Fixed Income
      • Market Views
      • Securities
    • Industries
      • Company News
      • Consumer Goods
      • Content Partners
      • Corporate deals
      • Corporate Press Releases
      • Energy
      • Entertainment
      • Financial Services
      • Hospitality & Travel
      • Manufacturing
      • Real Estate and Construction
      • Tech News
    • Economy
      • Get Data
      • Macro-Economic News
      • Research Analysis
    • Business News
    • Financial Literacy
      • Career tips
      • Personal Finance
    • Lifestyle
      • Billionaire Watch
      • Profiles
    • Opinions
      • Blurb
      • Op-Eds

    © 2022 Nairametrics

    Social Media Auto Publish Powered By : XYZScripts.com