The Nation Newspaper

Tag: property

  • ‘Why Edo is selling its property in Lagos’

    ‘Why Edo is selling its property in Lagos’

    The planned sale of the ‘Edo House’, the property of the Edo State government in Lagos, has generated controversy. Governor Adams Oshiomhole spoke with reporters in Benin-City, the state capital, on the transactions and other issues. Osemwengie Ben Ogbemudia was there.

    Tempers are rising over the proposed sale of the Edo House by your administration. What informed this decision?

    I think that the whole essence of democracy is that people have the right to express support and people also have the right to condemn in the strongest term possible any matter of public interest for which they feel uncomfortable. That is what makes us an open society and we are prepared and ready to response to any question. First, Edo House has not been sold and it will not be sold secretly. Yes, we decided as a government at the level of the State Executive Council to look at the matter of Edo House and all issues around it and we came to the conclusion that it is in the interest of Edo State and, in particular, Edo Tax payers, that that property be put to the market in a very transparent manner. I emphasise this because governve been sold by previous government, including military and civilian, without the benefit of advertising it.

    If we wanted to have an underground transaction, to sell to ourselves or family, we will not need to advertise it. It is consistent with our commitment for transparency and accountability that we decided that, as a matter of obligation, we decided to advertise the house. However, having noticed some reactions, I thought that, giving an opportunity such as this, we put the matter to the public and more so, that it has not yet been sold, but our decision to sell it has not been revised, but we are willing to have an open mind and certainly, not an empty mind on this matter. I think I have a duty as your steward to share with you my conviction and reason why as the governor of Edo State, I approved of the decision to sell the house.

    What are the facts about Edo House, considering the stiff opposition from indigenes against the proposed sale?

    Edo House, as it is called, is located on a prime area, along with several states, which have similar properties in the same area. This was as a result of the fact that Lagos was the capital of Nigeria. Consequent upon the creation of Abuja, just as we are been summoned to Abuja from time to time, it was even more so during the military that governors had to go to Lagos for one meeting or the other. And of course, you need effective liaison between the state government and the Federal Government when Lagos was the capital of Nigeria. So, in order words, Edo House in Lagos was built to provide space for liaising services and secondly, to provide accommodation.

    In Edo House, we have what is called the governor’s chalet and the deputy governor’s chalet and other chalets to be used for government and non-government officials when they are in Lagos. As far as I know, that was the reason Edo House was built as at the time it was built. However, two things have happened. First, Lagos lost the status of being the capital of Nigeria when the capital was relocated to Abuja. Consequently, the issue of Lagos liaison between Edo State and the Federal Government can no longer take place in Lagos. Indeed, I am sure that many of you will know that the Federal Government has sold the Federal Secretariat and a lot of Federal Government properties in Lagos, although in some cases, in a controversial manner, but it has been sold.

    The 1,004 housing units, which used to house the National Assembly members, once Lagos lost it status as the capital and the parliament relocated to Abuja, the property was sold, and it remained sold to private companies because there was no need to maintain them when the parliament is no longer in Lagos. We can speak about several properties that have been sold. The state governments have sold their properties built for liaison purposes between those state and the former federal capital.

    We want to ensure that the investment we make is sensible and that you do not tie down money or asset that is performing so that the primary political purpose and even the social purpose is lost. The Edo House, before I assumed office, from records, showed that none of my predecessors stayed in that lounge. The governors and their deputies did not stay there because it has been in terrible shape and I can almost swear that, even if we decide to revise the decision, it is not likely to be used by my successors.

    What is your reaction to the argument that the property is commercially viable, contrary to the position of the state government?

    That again is not true and the answer is no. I have asked for all the evidence. My predecessor in government had contracted the management of Edo House to various estate agents. I confirmed recently that the managing agents have changed for six times and, from records, the last one was done by a commissioner under my government during my first tenure. Whether the agent has changed or not, the facts available are clear.

    The total annual estimated income, if and when it is paid in full by our agent, is put at N34 million, but even this amount was never realised in one year, certainly not since I assumed office and you all know how hard I have tried to collect every revenue available to the Edo State. But the record of my predecessors show that the return was even less as of that time. If we assume, without conceding, that we have been able to reaslise N34 million in 10 years, it will attract N340 million and, if you pay five per cent to the estate manager, your net would be N340 million in 10 years minus 10 percent.

    In 20 years, it would be N620 million, in 0 years, we would have made N1. 36 billion. I want to imagine that we have seasoned estate managers. I also want to recall that, when I was the Chairman of the Nigeria Social Security Trust Fund, we were involved in acquiring real estate and I was told by the experts that, in trying to put value, whether it is viable to buy landed property, you are looking at a possibility of between 12 and 14 years. If you can’t recover your investment, it is not considered a viable asset.

    So, when I say that Edo House is not viable, it is because I believe, whether by reason of its location and what it might require to reposition it, it would be worth a couple of billions. I would be shocked certainly, if anybody tells me it would be less than that.

    Some people reason that it would be better to re-invest in it than outright sale?

    Yes, it is an option. We can decide to rebuild or renovate, but it would require more than half a billion naira to put the property in a rentable state to compete with other properties in that neighborhood. As your governor and steward, who has the privilege of collecting your taxes and putting those taxes into best use, the issue for me, is will it be in the interest of Edo people that I collect half a billion and take it to Lagos and re-invest it so that we can collect more rent? If we collect more rent ,how many years? What is the commercial purpose?

    Don’t you think the Edo House represents a monument that needs to be preserved for children yet unborn?

    I have heard some people say that and I have tried to search for the meaning of the word monument in the Oxford Dictionary. Edo House is not one of our tourist attractions and there is no big history behind it. It does not depict our traditional value, neither was it designed by an architect that had in mind the peculiar Edo culture. And, if anybody says it represents our culture or it is a monument, then, I stand to be educated. A monument cannot be an asset that would be so bad that no body here would say he went to Lagos last week and stayed there. However, my first choice in arriving at the decision to sell, and this is in line with our commitment to raise revenue from any legitimate sources as we can in order to rebuild Edo State. Government, no matter how hard we try, never seem to get full value from property the way a private person would do. Some people have converted it to hotel and for short stay. I had to take your tax payers money to hire a senior lawyer and the case is running for, at least, three years now. As we speak, ejecting those tenants has not been possible and, if things go the way they are, the matter will be not be settled during my tenure. We are living painfully with an individual who is defrauding the Edo State government. For an individual property owner, there are many options to get rid of your tenants. For me, I am very clear of my mandate and obligation and it is to develop Edo State and not Lagos State because I am committed to divest in Lagos and re-invest in Edo. We are not set out to be collecting rent from rooms and parlous. When I was campaigning, I didn’t promise that I was going to build houses for rent because no government is about that.

    You just talked about divesting to re-invest the proceeds back to Edo State. What area of investment is your government considering?

    I believe Edo State needs a convention centre. It is my conviction. Edo State needs to be a tourist centre because we have a lot of historic centres to attract tourists in all the 18 local government areas. For Edo to truly become a tourist destination, there are certain infrastructure that must be put in place, not just a five star hotel, but one with convention facilities. In Edo, we have various hotels, but certainly, not a five-star hotel and we do not have any conference hall, you do not want to host any event where all the participants are scattered in different hotels and before now, in going round Benin City, I observed the location of the military hospital and I was told why and when it was built, but given today’s reality of Benin City, the military barrack is at Ekenwa and we have discussed with the military and they have given approval in principle to cede the place to us on the authority of the Chief of Army staff.

    The land can be put to better use for the good of Edo people. In selling Edo House, the proceed will be use to built a five-star hotel and we will subsequently privatise it in a transparent manner because experience has shown that government is not a good managers of business based on current reality, so that we do not owe it 100 per cent depending on who is coming into it with the government

    There are speculations that you have already sold the house to yourself

    One of my friends, who do not like me now, said that I took his land and gave it to a company to built a shopping mall and he alleged that I have sold the house 60 per cent to my self and 40 percent to what he described as a non- biological son. I m not an angel, but I am not a greedy person and I pray that I will never become so greedy that I want to become the owner of Edo State, and that is not in my prayers.

  • PDP kicks over sale of property

    PDP kicks over sale of property

    •It is an abandoned building, says Oshiomhole

    THE Peoples Democratic Party in Edo State has vowed to stop alleged plans by the state government to sell the Edo House in Lagos State.

    It said the Edo House, a multipurpose commercial complex located in Victoria Island is the most priced asset of the people of the state.

    State Chairman of the PDP, Chief Dan Orbih, who spoke at a press briefing yesterday, said the property is valued at N3.5billion.

    Orbih said the party would “go full length to stop the satanic sale” of the property.

    Chief Orbih, who described the sale of the property as fraudulent and evil, said the process confirmed their fears that a top government official was interested in buying the building.

    He said their fears were confirmed by a clause in an advertorial placed in national dailies for the sale of the property which states that “the client has no obligation to accept the highest or any bid”, saying “if the reason is to get more money, why is the government not accepting the highest bid?”

    Chief Orbih also raised the alarm that the state government has concluded plans to sell the parcel of land given to the state by the federal government at Asokoro, Abuja, as well as water pipes for N300million.

    Special Adviser to Governor Oshiomhole on Media and Publicity, Mr. Kassim Afegbua, said the house was put up for sale “because that is the best thing to do in the light of long years of decay in the hands of PDP government.”

    Kassim noted that the state government would rather utilise the building’s economic value for the overall good of the people of Edo State than leave it abandoned.

    “What purpose is Edo House serving in Lagos as we speak when there are lots of developmental challenges back home in Edo State? We take decisions based on the public interest of Edo people, not personal interest of some PDP demagogues who plundered our collective patrimony in the past,” Afegbua said.

  • ‘Property boom only for the brave’

    ‘Property boom only for the brave’

    On one of the most exclusive streets in Abuja sits a crumbling mansion with an unwelcoming message painted at its entrance: Beware! This house is not for sale.

    The warning refers to a popular property scam. In the most elaborate version, robbers break into your house while you are away, change the locks, and then produce multiple copies of fake title deeds. Posing as estate agents, they show buyers around your house and sell as many copies of the deeds as possible. When you get back, your house belongs to six people.

    This sort of deception epitomises the tricky nature of Nigeria’s real estate business, but despite the risks, there are huge returns to be had in a market where around 16 million homes are needed just to meet current demand.

    Navigating through opaque land laws, corruption, a lack of development expertise and financing, a dearth of mortgages and high building costs will take courage and influential local partners.

    “There are sizeable challenges to overcome but in many ways Nigeria represents the perfect storm for real estate investment; huge population, rapid urbanisation and a growing middle-class,” said Michael Chu’di Ejekam, Director of Nigerian Real Estate at Actis, a London-based private equity firm.

    Actis has $5.2 billion under management, including two sub-Saharan Africa real estate equity funds totaling $434 million, which it says are attracting United States and European investors.

    The country’s population of nearly 170 million is bigger than Russia’s and its economy is growing at six per cent, a combination which is producing a new wave of property buyers from bankers and airline staff to mobile phone and fast food shop owners.

    “I see demand from the middle-class higher than ever before,” said Deolu Dara, Associate Vice President at Nigeria-based Avante Property Asset Management, which manages several multi-million dollar residential projects in Lagos.

    A successful real estate investment in Nigeria can earn an returns as high as 30-35 per cent, while rental income yields in cities such as Lagos and Abuja can easily reach 10 percent, developers and estate agents say.

    Property in Lagos, a heaving metropolis of around 20 million people, can be among the most expensive in the world with two-bedroom flats costing more than $1 million in upmarket areas.

    However, the top-end range is dominated by well established players and developers should target middle-income workers in major cities, such Lagos, Abuja and the oil-hub Port Harcourt. The most popular units fall in a price bracket of N20-35 million ($123,000-$214,100), developers and estate agents say.

    Nigeria’s middle class make up around 23 per cent of the population and earn around N80,000- N100,000 ($490-$610) per month, according to report by investment bank Renaissance Capital.

     

    In smaller cities and rural areas, a lack of information about land and regulation is off-putting, while a violent Islamist insurgency has made the north of Nigeria unattractive, despite huge unmet demand in cities such as Kano and Kaduna.

    The majority of Nigerians live in poverty in shanty towns or in basic concrete block and iron-roofed houses they have built themselves, but building mass housing for the poor is not a popular investment.

    “If you know the market, the people, focus on middle class and cherry pick your deals, you can clean out,” added Dara, who said Africa’s biggest oil and gas industry is also driving demand. One foreign oil major bought 300 flats recently.

    Nigeria’s construction and real estate sectors are growing at more than 10 and 12 percent respectively, a boon for foreign and Nigerian construction firms, including UPDC, Cappa D’Alberto and Julius Berger.

    Yet, there is still not enough quality affordable housing because business is frustrated by widespread corruption, poor state infrastructure and a lack of expertise and financing.

    Constructing a block of flats costs three times as much in Nigeria than in South Africa, builders say, and many developments are abandoned when projects run out of money or become slums because they are poorly built.

    London-based estate agent Jones Lang LaSalle ranks Nigeria 96th out of 97 on its transparency index, just in front of Sudan but behind six other African countries.

    Having support from powerful politicians or business magnates will help to avoid terminal financial pitfalls.

    LOCAL PARTNERS

    “It’s a business that requires local partners and local knowledge or you’ll run into problems,” Dara at Avante says.

    Avante’s chairman is Wale Tinubu, the head of oil and gas firm Oando and a close relative of former Lagos state governor Bola Tinubu, who still wields influence there.

    London-based Actis has given directorships to Nigerian energy firm Seven Energy and local conglomerate UAC.

    Once the supply challenges have been overcome, there remains a problem with that huge latent demand. No mortgages. Unless you are willing to pay a 25 percent interest rate.

    The mortgage debt-to-GDP ratio in Nigeria is under 0.5 percent, compared with 72 percent in the U.S. and over 30 percent in Malaysia and South Africa, government figures show.

    “In places like America you seem to be able to buy property without a stress but it just isn’t like that here,” said Ike Ejekam, 31, who is about to buy a newly-built two-bedroom apartment for 20 million naira in a gated community in the popular Lekki district on the Lagos peninsula.

    Ejekam represents the new breed of buyers who expect well-built housing with all the modern conveniences. He works at a branch of a local bank and is using his life savings and funds borrowed from family members to buy his property outright.

    “I don’t like to think about mortgages because it scares me when I see how difficult it is for my friends to get a loan.”

    Nigerian banks don’t like giving out mortgages because reliable information about buyers and land is scarce, while there is no secondary market to offset the risks.

    MORTGAGE DENIED

    The government says it is trying to fix this by securing a $300 million loan from the World Bank to establish a mortgage refinancing company, which should free up some bank lending.

    A Federal Mortgage Bank was also launched this year, which government hopes will help build 500,000 new homes. The bank plans to float a 200 billion naira mortgage bond, the proceeds from which can be handed over to home buyers with the state guaranteeing against default for five years.

    The government is also discussing passing legislation to create a secondary mortgage market and to improve land laws.

    “With this sense of urgency we could have a significant improvement in the mortgage market by 2015,” United Bank for Africa CEO Phillips Oduoza told Reuters.

    This optimism is also being felt by developers as dozens of well-financed projects are underway, including the Eko Atlantic City – a multi-billion dollar project built from 9 square kilometers of land being reclaimed from the sea in Lagos.

    The billionaire Chagoury brothers, who are of Lebanese descent, are leading the mega-project, which will feature parks, swimming pools and skyscrapers with floor-to-ceiling glass. Banks, including France’s BNP Paribas, Belgium’s KBC and several Nigerian lenders are on board.

    In Abuja, UPDC has started its 228-unit ‘Metro City’, which consists of well-designed blocks with balconies built in palm-fringed private compounds. Privately owned Churchgate Group is building its ambitious $1 billion World Trade Centre, a series of skyscrapers housing offices, flats and upscale shops.

    “Nigeria is a huge real estate opportunity,” said Ejekam at Actis. “The story is getting out, slowly.”

  • Ribadu urges Fed Govt to secure Nigerians’ life, property

    Ribadu urges Fed Govt to secure Nigerians’ life, property

    Former Economic and Financial Crime Commission (EFCC) Chairman, Mallam Nuhu Ribadu, has urged the Federal Government to ensure the safety of the life and property in Nigeria.

    He also said peace in Plateau State is crucial to the survival of the country.

    Ribadu said Plateau State could be described as a miniature Nigeria.

    The former EFCC chairman spoke yesterday at an inter-communal dialogue and conflict mediation among various communities of Anaguta, Afizere, Berom, Hausa and Fulani.

    The parley, which was held at Crest Hotel in Jos, the state capital, was organised by the Centre for Humanitarian Dialogues.

    Ribadu said: “Plateau State is too important a place to be allowed to be consumed by ethnic violence and hatred. Its significance as a socio-cultural melting pot of Nigeria made it a place to be for all. We remember a Jos, which was a haven for all; a place in which ethnic and religious identities were only considered as individual destinies and choices, rather than reasons to hate.

    “It was, therefore, with pain that the importance of the city, in which tolerance once held the people together, was shattered, often in avoidable circumstances. The painful reminder from these years of distrust and ethnic tensions are broken fences of friendships and once cosy relationships. We see communities divided, with friends turning against their friends in the orgy of blood-letting.

    “No people can live all by themselves, and history has proved that no people can wipe another from the face of the earth. There is heavenly wisdom in our diversity.

    “The solution, therefore, is for all well-meaning Nigerians to come together and rid this beautiful and accommodating state of that virus of hatred and return Plateau to that once-upon-a-time glory of a popular tourist attraction in Nigeria, a city renowned for its amiable weather, serenity, open-mindedness and urban inhabitants.”

    The former police officer, who was the chairman of the occasion, said he dropped his political ambition and toured parts of the country in the search for lasting peace.

    He hailed Governor Jonah Jang for his exemplary leadership and genuine commitment to peace in the state.

    Jang, who was represent by the Commissioner for Local Government and Chieftaincy Affairs, Paul Wai, said: “The government has lived up to its responsibility in guaranteeing the security and welfare of residents of the state. This is on our 10-Point Agenda. We have achieved this through our regular Security Council meetings comprising all security chiefs in the state and the Special Task Force (STF) Commander as well as the establishment of Operation Rainbow, which is community-based.

    “It is worthy of note that the government, since the beginning of these attacks, shouldered a very high financial burden in managing the security challenges which have not deterred its resolve in co-operating with and partnering the Special Task Force.

    “Also, we have established a peace-building office, which is saddled with promoting dialogue and non-violent alternative to resolving differences and conflicts.”

    A political counsellor at the High Commission of Canada in Nigeria, Alexandra Mackenzie, said: “Canada’s interest in peace and prosperity in Plateau State stems from the many Canadians living here as well as the important relationships which Canada has with your communities and institutions.

    “Canada is also interested in peace here, because we know that the challenges you face in Plateau have a wider impact on the rest of this country.”

    The Senator representing Plateau North, Gyang Pwajok, advised the communities to forget their differences and remember the good, old relationship that bound them together.

    Pwajok said it is imperative to address the issues that cause hatred before they get out of hand.

    According to him, the people need to reflect on the state’s slogan: “Home of Peace and Tourist” to foster peace.

    The senator regretted that the security challenges across the country were being amplified by the Boko Haram sect.

     

  • Court stops Ondo from interfering with deceased’s property

    An Akure High Court, presided over by Justice O. A. Adegbehingbe, has barred the Office of the Administrator- General of Ondo State from interfering with the administration of the estate of a man, who died intestate but has a next of kin, who can administer his property.

    The court gave the order when it delivered judgment in a suit brought by an Akure lawyer/ activist, Mr. Titiloye Charles, on behalf of the children of Dr. Olufunke Akindele Kuforiji, a deceased civil servant, against the Ondo State Government Office of the Administrator- General and the Probate Registrar of the High Court, Akure.

    The late Kuforiji’s estate and gratuity were taken over by the Office of Administrator- General of Ondo State without the consent and authority of the children and family of the deceased, who had applied for the issuance of a letter of administration by the Probate Registrar of the High Court.

    The Administrator- General Office, a department of the Ministry of Justice in Ondo State, argued that it is a policy of the government that estates of deceased civil servants should be taken over after their deaths by the Administrator- General Office to facilitate the payment of gratuities to the deceased’s family.

    Mr. Titiloye said: “In furtherance of this policy, 12 per cent of income accruable and N150,000 are deductible from the estate of the deceased.”

    He, however, objected to interference by government in the estates of the deceased, who are represented by the next of kin.

    The lawyer urged the court not to allow deduction from the estate as it is illegal.

    Delivering judgment, Justice Adegbehingbe warned the Administrator- General to adhere to the law setting up his office, which did not contemplate its meddling in the affairs of the estates of citizens, who have relations and next of kin.

    He held that there was no such government policy that allowed the office to take over the estates represented by next of kin of the deceased.

    The court revoked the letters of administration granted in favour of the government by the Probate Registrar of the High Court and ordered that the money accruable to the late Kuforiji’s estate be paid to the beneficiaries without any deduction.

    The judgment resolved the interference by the government in the administration of the estates of the deceased, which has resulted in prolonged litigation to the disadvantage of the beneficiaries.

    It was alleged that the dependents of the deceased civil servants were often shortchanged due to the deductions from their entitlements payable through the Office of the Administrator- General.

  • Small business property insurance

    Property insurance can be purchased based on the property’s actual cash value (the replacement cost minus depreciation), its replacement value (the cost of replacing an item without deducting for depreciation) or an agreed-upon amount (commonly used for art objects and other unique items).

    Basic property insurance will cover your losses in the event of a problem such as a fire or a lightning strike, and will pay the cost of removing property to protect it from further loss. Additionally, a standard small business policy will usually cover losses from windstorm, hail, explosion, theft, and damage caused by aircraft, automobiles or vandalism. Optional coverage can insure against earthquakes, floods, building collapse and glass breakage. Property insurance can be categorised by what is insured and by the events leading to a loss.

     

    Taking stock of your business property

    You should take a complete inventory of all your business property, determine its value and decide what’s worth insuring. Make sure the items you want to cover are provided for in the basic policy; if not, buy more coverage.

    If your business rents space, your lease might require you to carry certain types of insurance coverage. However, just because the building owner carries all the necessary insurance on the building doesn’t mean it will cover any of your equipment, furniture or other business property.

    “Named-peril policies” will cover certain losses resulting only from the perils that the policy names; “all-risk policies” offer coverage for all perils except those specifically named in the policy. A business owner may choose a named-peril policy if his business is located in an area that is frequently hit by natural disasters such as flood, hurricanes. Insurance experts recommend that the average small business purchase an all-risk policy.

     

    Find an insurer specialising in small-business insurance

    Some insurance companies specialise in small-business insurance coverage. Their policy offers additional optional coverage’s for small business owners who also own their own buildings.

    It pays out if your building is destroyed and it costs more to demolish and rebuild it to code than its previous value; it provides full glass coverage and full sign coverage; it provides additional coverage for damaged landscaping; and it extends coverage limits for newly acquired buildings. So, when you shop around, keep in mind that this coverage’s are not standard.

    If your company has a variable growth pattern, you may want to adjust your coverage annually.

    Other coverage that you can buy through riders include: accounts receivable coverage from $25,000 up to $250,000; coverage for loss of stock; protection against counterfeit money orders or currency; employee-dishonesty protection; sewer and drain back-up coverage; and valuable papers coverage.

    Deductibles for property insurance can be calculated on a per-claim or on an aggregate basis. The out-of-pocket cost for per-claim deductibles is often lower, so if you’re in a business that has a relatively low chance of filing a claim, you might consider this. Companies with a lot of claims would do well to consider calculations on an aggregate basis.

     

    •Culled from insure.com.

  • Abuja property tussle: Businessman denies document forgery allegation

    The police have arraigned a businessman, Alhaji Lawal Abba, at a Chief Magistrate Court, Wuse, Abuja, for alleged fraud and forgery of documents of Plot 105, Aso Drive, Abuja.

    The documents were suspected to have stolen from one Alhaji Ibrahim Gusau, said to be late.

    The arraignment followed a complaint of forgery of land documents made by Gusau, Inuwa Abdulkadir and Sunrise Resource Limited Abba.

    The complainants had also reported a case of alleged trespass and willful destruction by Abba.

    But the defendant, who was arraigned on June 18, denied the allegation and insisted he is the legitimate owner of the house.

    The police said the alleged crime was contrary to sections 319A, 177, 342, 364, 368 and 366 of the Penal Code.

    Abba was granted bail in the sum of N3million.

    He claimed he purchased the house known as Plot 105 Aso Drive Cadastral Zone A5, Maitama Abuja by virtue of Deed of Assignment and a Power of Attorney dated March 3, 2004.

    The property was said to be executed and donated to him by Messrs Rexparts International Nigeria Limited

    A dispute over the title of the land between one late Alhaji Ibrahim Gusau and Abdulkadir, a lawyer, on the one hand, and Rexparts International Limited, Mrs Perveen Akhter Ahmad and Abba on the other is pending before Court of Appeal Abuja division.

    While case is pending, the family of the late Gusau, allegedly without Abdulkadir’s knowledge and consent (as lawful Attorney over the property), sold the property to one Alhaji Aliyu Abubakar.

    Abubakar was said to have demolished the house, although he was allegedly told by Abba that the property is his (Abba’s) and that he and others were before the Court of Appeal Abuja over the house.

    Rexparts International and Abba, it was said, had been in possession of the property for over 30 years until January 15 when he was allegedly forcefully ejected and unlawfully dispossessed of the house by Abubakar with the aid of the police.

    However, Abba insists that Gusau sold the plot of land to Rexparts International, and having received the consideration, Gusau agreed and surrendered the certificate of occupancy and also signed a deed of assignment and Power of Attorney which was duly registered at the Abuja Land Registry since 2000.

    The police invited Abba in January over the allegation of a criminal complaint of forgery and fraud against him by Gusau and Abdulkadir, who was said to have later written the police denying any knowledge of the said complaint against Abba.

    Meanwhile, Abba, on his part, wrote a criminal complaint against Abubakar for “willful destruction” of his property, but the police is allegedly yet to deal with the complaint.

    When Abba received an invitation in writing from the police over the complaints, he was charged with fraud and forgery over title deeds of the property he claimed he purchased from Rexparts International.

    The court adjourned till July 3.

     

  • Appeal Court upturns property firm’s winding up

    Appeal Court upturns property firm’s winding up

    An Appeal Court in Lagos, yesterday quashed a Federal High Court’s ruling which favoured the winding up of a property firm, WAC Properties Nigeria Limited, by Royal Exchange Assurance Nigeria PLC.

    WAC Properties had instituted an appeal before the Justice F. O. Akinbami-led panel, after the lower court dismissed its preliminary objection against a winding up petition filed by the insurance company following disparities in the declaration of dividends.

    Delivering judgment on the matter, Justice Akinbami said the trial judge at the lower court, Justice I. N. Auta, erred by concluding that the issue of preliminary objection amounted to a “demurrer”. He averred that the court should have looked at the preliminary objection.

    In reply to the appellant’s brief, counsel to Royal Exchange, Val Izah, submitted that Justice Auta was right in saying the appellant’s notice of preliminary objection dated June 12, 2006 was demurrer.

    He argued that the appellant did not follow the proper procedure in bringing forth its notice of preliminary objection.

     

  • 75 lives, N1b property saved from fire

    The FCT Administration has saved 75 lives due to its prompt response to rescue calls in the territory between January and March his year .

    The FCT Minister, Senator Bala Mohammed made this disclosure in his office in Abuja

    The minister, who further disclosed that during the same period under review, eight persons lost their lives during such rescue missions, remarked that 21 persons were saved in January, 21 in February and 33 in March this year.

    Senator Mohammed revealed that the his administration also saved property valued at N1,138,800,000 while, N257.9 million worth of property was lost during the same period under consideration.

    According to him, the FCT Administration saved property valued at N258.2 million in January; N594.2 million in February and N286.4 million in March 2013.

    He said that the FCT Urban Affairs Department received 162 fire calls with 56 in January; 61 in February and 45 in March 2013.

    While praising workers the FCT Urban Affairs Department for their pro-activeness in handling all these emergencies, the minister enjoined them to redouble their efforts to further reduce the number of casualties in future.

  • Residents rue property loss on pipeline route

    Residents rue property loss on pipeline route

    Residents of Ikotun and Ijegun in Igando/Ikotun Local Council Development Area of Lagos who live along the Pipeline have expressed their misgivings over the demolition of their properties by the Nigeria National Petroleum Corporation (NNPC) without sufficient notice.

    The demolition exercise affected owners of structures built on the right of way of the NNPC pipelines who refused to heed to earlier warnings from the corporation to move away from the right of way of the pipelines.

    So, they came face to face with two bulldozers from the NNPC which pulled down structures that stood on the right of way of the NNPC pipelines.

    Residential buildings, churches, mosques, walls, stores, kiosks and other makeshift structures that extended beyond the stipulated line for the pipelines were destroyed by the menacing bulldozers.

    Before they could blink, the bulldozers had started pulling down their precious structures. The pillaging continued until late in the day.

    In confusion, people scurried to evacuate their properties. Some which could not be evacuated were seen among the rubbish heaps. The bulldozers had reduced the offending walls, stores and intruding living apartments to piles of rubble.

    By the time they finished for the day, the once-boisterous and bubbly area, wore a lonely forlorn look. Features that made the pipeline milieu attractive are now nothing but memories. They no longer count for anything; as they gave way for the normal straight roadway.

    While narrating their ordeals, there were tell-tale signs of hopelessness and helplessness in the voices of those who spoke to Newsextra. Their voices, shrilled with anger and distress, pierced the dense atmosphere which has become charged with some of the victims’ lamentations. Tiny drops of water formed like beads on their faces expressive of pain and resignation.

    Among the victims displaced by the exercise and who were in a flutter of disquiet and confusion, there was a rumble and a grumble of suppressed anger. Many of the displaced persons huddled up in groups. They looked downcast and worn out. Some others were in pains and anguish, gnashing their teeth and gazing into illimitable distance while others, with chins in palms, looked confused and sober.

    When asked whether they were given enough notice by the NNPC before the demolition of illegal structures on the right of way of pipeline locations, majority of those affected by the exercise who spoke to Newsextra in confidence, said they were not given sufficient notice or information concerning the planned demolition exercise.

    For instance, a member of a mosque that was affected by the exercise who pleaded anonymity told Newsextra that “there was not enough notice that our property which had initially been marked for demolition would be pulled down on a particular day. If they had given us enough time, we would have made alternative arrangements.”

    Another resident of the area Mr. Sunday Ekong former Travel Manager of the Daily Times said: “Though we feel pained about the loss of properties, since it’s about development and our safety, we have to accept it in good faith.”

    On the issue of notice, he said that the NNPC had, since 2007 when there was pipeline explosion at Ijegun which claimed so many lives and property, started mounting pressure on the residents to move away completely from the right of way of the pipelines locations.

    He said: “To be objective and fair to the NNPC, it has kept on reminding residents along Pipeline Street of the need to move away from the pipeline zone for safety. To me, enough notice had been given. But it is not that the residents affected were recalcitrant or willfully refused to obey instructions. It could be a matter of non-availability of easy alternative, judged by the economic situation in the country.

    “Even though one may feel sad seeing properties erected with heard-earned money destroyed, as long as it’s for development and safety, one should not have anything against the government.”

    Justifying the action, an official of the NNPC who would not want his name mentioned for lack of competence to comment on the matter told Newsextra that “the residents had been served notice of government’s intention for several times but they seemed to ignore them.”

    When contacted for comment on the issue, Col. Ibiba Briggs of the Nigerian Army Corps of Engineers, Bonny Camp, Lagos said the Nigerian Army Corps of Engineers was only contacted to help in supervising the “operation maintain the right of way of the pipeline installations by the Nigeria National Petroleum Corporation (NNPC).”

    Col. Briggs maintained that the action by the NNPC was for public good, even as he said that “when there was pipeline explosion in Ijegun in Ikotun, lots of lives were lost and property worth millions of Naira lost. One believes that NNPC’s decision to clear the right of way of the pipelines was taken for safety reasons.

    “Petroleum products are highly inflammable and when people build structures on pipeline installations, they heat up the area, thereby making it very dangerous to live on because they become combustible and cause bodily harm to the residents. One also believes that it is part of the Present government’s transformation agenda.”

    He also revealed that it was not only the Ikotun-Ijegun axis that the Nigerian Army Corps of Engineers is clearing, adding that the Corps has cleared the right of way of the pipelines from Warri to Extravos, Port Harcourt to Aba, Warri to Benin-City, Mosinmi to Ibadan and Mosinmi to the Atlas Cove as requested by the NNPC.