AMCON Takes Over Properties In Lagos, Ogun Over N4.68bn Debt

Arik Air To Go To Court Over TakeoverThe Asset Management Corporation of Nigeria today took possession of some multi-billion naira properties in Lagos and Ogun states from three property firms and eight others due to an alleged N4.68bn bank debt.

The assets including land, houses, cars and generators were seized in execution of a Federal High Court order authorising the receiver/manager, Lanre Olaoluwa, to take possession pending the determination of the suit.

AMCON obtained the court orders against 11 respondents, including Havilah Villas Limited, Grant Properties Limited, and one Rev. Olajide Awosedo.

The properties include 14 hectares of land and buildings at Victory Park Estate, Igbokushu, and Goshen Beach Estate, both in Lekki.

They also included land at River View Estate, Isheri, Ogun State and a residential estate at Okun Owa in Odogbolu Local Government Area also in Ogun State.

According to AMCON, it acquired the N4.68bn non-performing loan that Havilah Villas Limited secured in 2006 from the defunct Intercontinental Bank Plc (now Access Bank), by a Loan Purchase and Limited Servicing Agreement.

AMCON said it also advanced a further loan of N300 million to Havilah Villas Limited. Both loans have so far not been settled by the debtors.

Considering the effect of the huge indebtedness on the economy, AMCON wants the public and all financial institutions to refrain from any prejudicial dealings in respect of the properties and other assets of the respondent as any breach may constitute contempt of Court and be punishable as such.

Gov. Ajimobi Signs New Anti-Land Seizure Bill Into Law

ajumobiThe Oyo State Governor, Abiola Ajimobi has signed a new anti-land grabbing bill into law, prescribing 15 year jail term or fine for offenders.

This is one of the provisions of the new Real Properties Protection Law, 2016, which has now been signed into law by the Governor, at the Executive Council Chambers in Ibadan, the state capital.

The law titled, “A law to protect the rights of property owners and prohibit forceful entry, illegal occupation, violent and fraudulent conducts, in relation to real properties in Oyo state, and for purposes connected therewith.”

Meanwhile, the Speaker of the State House of Assembly, Hon. Michael Adeyemo, Commissioner for Lands, Housing, Survey and Urban Development, Mr Ajiboye Omodewu, and Attorney-General and Commissioner for Justice, Mr Seun Abimbola, were also at the signing ceremony.

 

However, the law prescribes a 10 year jail term or a fine of 500,000 Naira upon conviction for illegal entry into any construction site.

Under the new law, any professional who is in the conduct of his duties facilitates a contractual agreement between a land owning family and any other person, knowing that such agreement will contravene the provisions of the new law is also liable to imprisonment for three years, a fine of 500,000 Naira or both.

Similarly, anyone that writes whatever is deemed to be a frivolous and unwarranted petition, containing false claims, under the anti-land grabbing law is liable to imprisonment for 10 years on conviction.

The law however read that, “Any person who, without lawful authority, uses or threatens violence for the purpose of grabbing any real property for himself or for any other person commits an offence and is liable on conviction to imprisonment of 15 years or a fine of 500,000 Naira or both.

“Any person who encroaches on any real property commits an offence and is liable on conviction to imprisonment for five-years or a fine not exceeding 500,000 Naira.

“Any person who is on any property as an encroacher and having with him any firearm, dangerous or offensive weapons commits an offence and is liable on conviction to imprisonment for five years.

“Any person who offers for sale any property knowing that he has no lawful title to the property or authority of the owner or sells a property knowing that he has no lawful title to the property or that the property has been previously sold by him or his privies is liable upon conviction to imprisonment for five-years.”

Ajimobi however lamented, “We want to use this opportunity to allay the fears of property owners and investors across Oyo state, that it will no longer be business as usual. Where there is no law, there is no offence, but now we have a law in place.

“The law was meant to protect the rights of property owners and to stop the nefarious activities of land merchants who willfully and violently seize people’s land

“We will ensure the full implementation of this law. I, therefore, advise those bent on encroaching on other people’s property, most times using violence, threats or imaginary connection with the powers that be to have a rethink.

“I salute our ever-reliable members of the House of Assembly, led by the distinguished Speaker, Hon. Michael Adeyemo, for the industry put into this holistic law that is meant to give property owners a new lease of life.” He said.

Fire Razes Kara Village, Properties Worth Millions Lost

An unfortunate fire disaster has razed a large part of the residential part of the Kara village in Ogun State.

Scores of houses and kiosks were brought down by the fire but no loss of life has so far been reported.

Eye witness account says the fire started at about 7pm and was caused by a cooking fire inflaming a nearby generating set.

The fire service arrived the scene at about three hours after the fire started exhausted their only tanker then drove back to get more water while the fire raged on.

Property worth millions of naira was lost in the fire as well as valuable documents.

Many residents have now been rendered homeless and it’s difficult to say exactly the number of houses destroyed by the fire.

Kara is a border village between Lagos and Ogun state.

State Of Police College Dormitory

Channels Television begins the new year 2013 with focus on the rehabilitation of the foremost training college of the Nigeria Police. We shall x-ray the life of students living in the police college.

The report below shows how students of the college live, who will later graduate to become policemen and women that Nigerians would rely on to serve and protect them.

5-storey building gutted by fire in Lagos

Tragedy struck on Saturday as a five storey building in Lagos was razed by fire, destroying property worth millions of naira.

The five-storey building, known as UBA Plaza, on Bread Fruit Street because the building houses a branch of the bank  on its third floor started burning around 5:00pm according to those present at the scene.

Uzuoma Aniekwe; a shop owner in the building, said the fire started shortly before 5:00 p.m., and as he got wind of it he started evacuating his goods from inside his shop on the ground floor and according to Aniekwe the fire started on the fourth floor and flowed rapidly to the fifth floor.

As of 08:20 p.m. in the evening of Saturday, firemen from the Lagos State Fire Service, UBA and Julius Berger Plc., were still battling the fire according to our reporter who was present at the scene of the incident as report had it that the fourth and the fifth floors were mostly affected by the fire.

A senior official with the Lagos State Fire Service in charge of rescue operation, said the arrangements products inside the warehouses was too compact for water to get through which gave rise to the unsuccessful penetration of water into the core part where the fire started from.

The official said the banking hall on the third floor might have remained intact, as well as many offices on the second floor.

In order to secure properties worth millions of naira to be looted by miscreants in the Breadfruit area police and officials of other security agencies quickly swung to action to protect these wares.