The Nation Newspaper

Tag: sold

  • How dead woman’s land was sold to me, by witness

    Exxon Mobil General Manager, Rotimi Olubeko, has told an Ikeja High Court how a land belonging to the late Mrs Francisca Awolaja was sold to him without the bereaved’s family’s consent.

    Olubeko, an electrical engineer, is a prosecution witness in the trial of a  lawyer, Kole Bello and three others.

    They were accused of forging a Certificate of Occupancy (CofO) of the land situated in Lekki.

    Bello is standing trial before Justice Oluwatoyin Taiwo alongside Chukwu Victor, Friday Palmer and Osumah Terry.

    They are facing a three-count charge on conspiracy, fraud and forgery preferred against them by the state government.

    The defendants were alleged to have committed the offence in December 2001, at Lekki Peninsula Scheme 1, Lagos,

    According to the charge, the defendants allegedly conspired to forge a C of O with reference no. 63/63/1989, dated September 28,1989, “with the intent that it may be acted upon as genuine.”

    They allegedly forged the C of O to take over a plot of land, which is the estate of the late Mrs Awolaja, and also arranged for someone to impersonate the deceased to fraudulently convey her land to one Mr Olubeko for  N5 million.

    The offence contravened Sections 422, 423 and 467 of the Criminal Law, Cap. C17 Vol.2, Law of Lagos State, 2003.

    They pleaded not guilty.

    Olubeko, who was earlier charged alongside others defendants for the offences, was later exonerated by Director of Public Prosecution (DPP)  in the amended charge.

    Led in evidence by Mr R.  O. Aroyewun, the witness said he was still finding it difficult to believe that the document of a land he brought from the defendants was forged.

    Olubeko recalled that an Ibadan based agent who he told about his intention to acquire land in Lekki linked him with Bello.

    “Base on my intention to acquire land in Lekki, my Ibadan based agent link me with Bello.

    “Before then, I properly briefed my agent on the kind of land I want to buy.

    “When I met Bello in his office, he provided all the necessary documents I asked for and even introduced me to the owner of the land in question, the so called Francisca Awolaja

    “Alhough I noticed that there was a little difference in  the photograph on the C of O presented to me by the defendants, the said Francisca Awolaja, who I met in the office of Kole Bello, told me she bought the land at a tender age, and explained that the difference in photography and her was as a result of old age,” he said.

    Olubeko also told the court that at the peak of the controversy over the C of O in his possession, he went to the state Ministry of Lands, to confirm if it was genuine.

    He said he discovered that the copy  of C of O  in the file was not different from the one in his possession.

    He said till date, nobody has told him how the C of O  in his possession became fake and that was what made him to file civil suit against the complainant at the high court.

    Olubeko said he believed so much in the C of O in his possession and that despite losing the civil he filed at the High Court, Court of Appeal, he was still  waiting for the verdict of the Supreme Court.

    Under cross-examination by Bello ‘ s counsel, A. O. Dawudu,  Olubeko admitted that he was once a defendant in the charge.

    He also affirmed that he bought the land from the person introduced to him as Francisca Awolaja through Bello.

    Justice Taiwo adjourned until September 21 and October 5.

  • Lawyer, others ‘sold’ land with stolen C of O, say Police

    An Assistant Commissioner of Police (ACP) Mohammed Salisu, has told an Ikeja Special Offences Court   how a landed property belonging to the late Mrs. Francisca Awolaja was acquired by a Lagos businessman Mr. Rotimi Olubeko with a stolen Certificate of Occupancy (C of O).

    He disclosed this while testifying in the trial of a lawyer, Kole Bello, and three others over alleged forgery before Justice Oluwatoyin Taiwo.

    Salisu, under cross-examination by defence counsel, Ayodele Akintunde (SAN), said he was directed to investigate the case following a petition written by the businessman to the Special Fraud Unit (SFU) of the Nigeria Police, Ikoyi, and a counter petition written by the complainant to the Inspector-General of Police (IGP).

    He said: “Initially, it was Olubeko who wrote a petition to the Special Fraud Unit (SFU) against the complainant, Mr. Felix Awolaja, the first son of the late woman.

    “Based on the petition, Mr. Awolaja was arrested, detained and interrogated by the police while other defendants wrote statements at the SFU as witnesses in support of Olubeko’s claim over ownership of the land against the complainant.

    “However, Mr. Awolaja wrote a counter-petition to the IGP and the case was initially assigned to the Commissioners of Police at the Federal Criminal Investigation Department (FCIID), Alagbon, Ikoyi Lagos. It was later assigned to my team following a signal from the IGP that the case files should be harmonised.

    “We harmonised the case files and invited all parties but Olubeko refused to honour our invitation until he was declared wanted.

    “In the course of investigation, facts about how the defendants went to the bank to complete the transaction and how they impersonated the deceased to sell her land to Olubeko with a stolen C of O, was revealed.

    “In the course of investigating the matter, an official of the state Ministry of lands, Olanipekun Cole, told us that it was the duplicate copy of the original C of O in the file at the ministry that was illegally removed and stolen by the defendants to sell the land,” he said.

    The police officer said he was dismayed that despite the role played by Olubeko in the perpetration of the alleged crime, he was not prosecuted as recommended.

    Bello was arraigned along with Chukwu Victor, Friday Palmer and Osumah Terry last October 30 by the Lagos State Government on a three-count charge for conspiracy, fraud and forgery.

    They, however, denied committing the alleged offences by pleading not guilty.

    All the defendants were alleged to have committed the offences in December 2001 at Lekki Peninsula Scheme 1, Lagos.

    Under cross examination, ACP Salisu said he did a diligent investigation before he recommended that the defendants be prosecuted.

    Justice Taiwo adjourned until June 15.

  • Lagos set to recover 100 assets sold illegally

    Lagos set to recover 100 assets sold illegally

    The Lagos State government may seize under-valued properties allegedly sold illegally and prosecute defaulters.

    The Nation learnt that the government is set to implement a far-reaching report on the sale of such assets. The report is said to contain a list of over 100 properties, the names of their buyers and the locations of the assets.

    Sources disclosed that the report  was arrived at after extensive lasting several months by a panel of inquiry set up in late 2016 by Governor Akinwunmi Ambode to “investigate the sale of its assets in prime areas running into billions of Naira”.

    The source, who does not want her identity revealed due to the sensitivity of the issue, said the government decided to investigate the sale of its assets because they were sold below market value.

    According to the source, the loss ran into billions of Naira.

    She said: “The affected assets are located in high-profile areas, where decision-makers, captains of industries, top government functionaries and political actors among others often crave to build their homes and offices.”

    She identified the areas where the assets are to include Ikeja GRA, Magodo, Ikoyi, Lekki and other prime locations.

    She explained that the assets were disposed at abysmal (or give-away) prices and obviously against public interest, which in her words, stoked the interest of the present administration to investigate and review the process by which the assets were sold.

    She disclosed that what eventually culminated in the resolve of the State government to investigate the sale of its assets was overriding public interest, lamenting that some of these assets “were sold as low as N20 million.”

    She added: “Generally, we have a situation where government properties in prime locations were sold at give-away prices. The assets were abysmally under-valued. Besides, the assets were sold below the actual market value”

    The Nation gathered that government took an exception to such transaction, stating that no serious government would allow such sales against public interest to stand.

    It was further gathered the report had indeed been submitted and implementation had begun with review of sales of properties that were sold grossly under market value.

    In one of the test cases under review, it was discovered that two wings of a       five bedroom semi detached house located around Ikeja GRA valued at hundreds of millions of Naira was in 2010 offered to Funmi Smith of Debam Mega Solutions Limited for a sum far less than half of the value, but seven years after the offer barely half of the offered sum has been paid to the State Government coffers by the Company.

    It was reliably gathered that as part of the report’s recommendations, the State Government has been advised to invite the Economic and Financial Crimes Commission (EFCC) to unravel several other transactions that have been identified by the panel of inquiry.

  • Nitel/Mtel was sold for N51.6b, says liquidator

    Nitel/Mtel liquidator Olutola Senbore has said N51, 648, 643, 000 was realised from the liquidation of the public owned telecom firms.

    According to him, the amount represented the $252.25 million paid by Natcom Consortium for the acquisition of the firms’ core assets, and other debts recovered on behalf of the liquidated firms.

    Senbore spoke during a meeting with agitated creditors of the liquidated telcos at the Transcorp Hilton Hotel, Abuja.

    The liquidator also dismissed reports indicating that President Muhammadu Buhari had demanded an upward review of the $252.25 million bid price paid by Natcom for Nitel//Mtel.

    President Buhari was quoted in the media last year to have given a directive demanding additional payment above the $252.25 million paid by Natcom.

    The president was further quoted as saying that the directive was to ensure that “Nigeria was not shortchanged” in the transaction.

    Denying the existence of any such directive by Buhari, the liquidator, in an e-mail response to our correspondent’s inquiry, said he was not aware of any directive in that regard.

     

  • Who sold and who didn’t at TKMG auction

    Who sold and who didn’t at TKMG auction

    At the recently held Lagos Art Auction, organised by Terra Kulture Mydrim Auction House (TKMG), Market Queens, an oil on canvas painting by Ablade Glover, a Ghanaian foremost artist, ranked the most expensive. The alluring piece which is a 47×39 inches, was sold at the rate of 3,200,000.00 naira.

    The bidding for Market Queens started from 2,800,000.00 and went to the last bidder for 3,200,00.00. People, another oil on canvas by Glover was sold at the rate of 2,800,000 naira, making second most expensive artwork at the auction. Both works were produced in the year 2013.

    While Man Rowing into Life, a 48x27inch bead work, created in the year 2012 by David H. Dale, was estimated between 2,500,000 to 3,500,000. Man Rowing into life was ranked the most expensive piece on the list. However, the work was not sold. The Rainbow Brigade 8, a mixed media artwork by emerging artist, Ndidi Emefela was sold at rate of. 950, 000 naira. Busy Hands, an oil on canvas painting by another emerging artist, Raji Mohammed’s was also sold at 250,000 naira.

    About forty-five artworks were sold at the auction, which featured 104 artworks, cutting across various media and artists from Nigeria and across West Africa (Ghana, Togo and Republic of Benin). Most works of masters of art were not sold at the auction. Kolade Oshinowo had four works but none was sold. Two by Dele Jegede were not sold and six by David H. Dale were on the list of works not sold. Only one piece by Bruce Onobrakpeya was sold out of five works.

    In the year 2015 edition, Dupe, a piece by Kolade Oshinowo, was sold at the rate of N2,200,000. Dupe was the most expensive work auctioned that year.

    TKMG has grown to become one of the leading Art Auction Houses in Nigeria recording over 70% sales at each auction. But this edition witnessed a low sell according to source since the inception of Art Auction in 2010. One critic at the auction said works were not sold because “the works were “overpriced,” while another speculated that the economy of the country is the reason many of the works were not sold. “Sale was low this year compared to other years,” said a reliable source, who works with one of the galleries. “People are coming behind after the auction to beg for the works at a low price.” For this reason, the organisers cannot reveal the total number of works sold at the auction.

    Preview of the works took place on April 24, at Terra Kulture Art Gallery and the auction held on Friday, April 29, 2016, at the Intercontinental Hotel, Victoria Island, Lagos. The auction was conducted by Mr Yinka Akinkugbe. And curated by Ronke Akinyele. “We brought in the affordable works and expensive ones. We also decided to put inworks by a couple of young Nigerian artist who have been making waves both home and abroad, and I was able to reach out to them to see how we gathered some of their pieces in this year’s auction.”

    Ten exceptional works by Kolade Oshinowo, David H. Dale, Ablade Glover, Rueben Ugbine and Segun Aiyesan were leading as the expensive artworks in this year’s Lagos Art Auction. Among the top ten ranking in the list were: Discussion, (acrylic on canvas), by Kolade Oshinowo People, (oil on canvas), by Ablade Glover, Market Queens, (oil on canvas), by Ablade Glover, Abuja Landscape (oil on board), by Kolade OshinowoMaiden Dance (wood), by Rueben Ugbine, Motifs (copper foil in board), by David H. Dale, Tussle (wood), by Rueben Ugbine, Village Scene (oil on canvas), by Kolade Oshinowo, and Owanbe (acrylic on canvas) by Segun Aiyesan.

    Lagos Art Auction brought collectors and art lovers togetherunder one roof to bid for works of their choices, as well as celebrates Nigeria’s cultural heritage through creative artistry and a reference platform for pricing African artworks. The Terra Kulture Mydrim Auction House (TKMG) was initiated by the CEO, Terra Kulture, Mrs. Bolanle Austen-Peters. It collaboration with Mydrim Gallery which was started six years ago. TKMG, annual art auction.

  • Items are sold more expensive in malls

    Ever wonder why sales at the malls by the tenants tend to be more expensive when compared to the open market? These tenants say some things are responsible. There is a common believe that malls are arena meant only for the wealthy class. To Some people, a mall is an expensive place to go shopping as prices of items could be two times that of its open market counterpart. Some mall tenants spoke on the reason for this. Mr. Muyiwa Adebayo owns a footwear store in a mall, he said: “One of the reasons why what we sell here in the mall is higher than other places is because of the rent we pay to the mall owners and management. The rent here is very high, and services we render is second to none.” He said

    Adding that the quality of products at the mall is guaranteed, he said “we can give you assurance that the things you get here is of good quality”.

    Mrs. Titi Elegbede of Wrangler store also gave a similar reason as to why items at the mall are quite expensive compared to other places. “The only reason why we sell higher is because of the rent we pay.  It’s very expensive to get a shop here and the only way we can recover our money and make profit is to increase the prices of our wares.” Elegbede said not all items at the mall are expensive. “Some of our items are cheaper but the expensive out number them”.

    At Health plus, Samson Ikuopami said the rent and importation rate is what is responsible for expensive items at the mall. He said one advantage of patronizing the mall is being able to trace stores where faulty items are bought for refund. “Faulty items can easily be returned to the store where they are purchased from”.

    At Accessories 2 die 4, an accessories store, reason items are more expensive in malls is because our customers have to pay for services rendered apart from paying for items bought.

  • Why NigComSat 1R must be sold, by Minister

    • It’s a drainpipe

    The Federal Government has said the sale of Nigeria’s satellite firm, NigComsat 1 R, has become inevitable  because it has become a huge drainpipe on government’s scarce resources.

    Commmunication Technology Minister, Dr. Omobola Jonhson who spoke during the Fourth Industry ICT Stakeholders Forum by the Commmunication Technology Ministry in Lagos at the weekend, said the satellite firm would be sold to private investors for more efficient management.

    According to her, the firm would be sold in a way government would be able to get good value from it. She said the management of the firm is currently working to increase its commercial value.

    She said: “NigComSat 1R has increased its commercial value through the generation of revenue for government by leasing of 5KU transponders, C-Band, broadband sale and the leasing of Direct to Home (DTH) platform to private strategic partner.

    “Ongoing projects are being designed that will increase revenues from this asset. The lease of KA transponders is also planned for Q1 2015.”

    Dr. Johnson said the satellite firm made N3,654,955.04 in 2012 while it generated N263,753,354.34 and N648, 866,688 in 2013 and 2014 respectively, showing a gradual improvement in performance.

    The improved performance, however, does not justify the money it gulps from government’s purse.

    She said: “NigComSat 1R takes a huge portion of our budget and I don’t think there is any minister that will not support its privatisation for the country to make more money.”

    Responding to questions on continuity, the minister said as pioneer minster of ministry, she had,  with other stakeholders, done a lot to improve the fortunes of the ICT sector to ensure its sectoral addition to the nation’s gross domestic product is worth the while.

    She said the sector has contributed above nine per cent, adding that when added to another two per cent it has enabled other sectors of the economy, the score card is good enough.

    She added: “As the administration comes to an end, I will answer the question about continuity of the pragrammes for two major reasons. First, if look at what we did, I told you we had two major priorities-Connect Nigeria and Connect Nigerians, these are priorities we engage with the industry before we started doing. There several other projects so, to me, the priorities that we have are not only for the ICT sector but for the country.”

  • Osuchukwu sold for N106m

    Osuchukwu sold for N106m

    FUTAA.COM has learnt that Flying Eagles midfielder, Chidi Osuchukwu was transferred to Portuguese club, Braga for the princely sum of 500,000 euros (N106m).

    Osuchukwu, who was with Dolphins football club of Port Harcourt, was whisked away from Turkey immediately the Nigeria U20 team were knocked out of the tournament.

    The creative midfielder, who is always one of the first players to report back to Dolphins after national assignments, has been tipped to succeed with the Portuguese premier league side.

    He has since settled with the B side of Braga, but many believe that his stay with the second team is only temporary.

     

  • ‘How ALSCON was sold’

    ‘How ALSCON was sold’

    Fresh facts have emerged over the circumstances surrounding the shoddy privatisation of Aluminum Smelter Company of Nigeria (ALSCON) at Ikot Abasi, Akwa Ibom State.

    Mr Nicholai Nicoshelivy, it was alleged, single-handedly endorsed the share purchase agreement (SPA) of the aluminum smeltering firm with the Bureau of Public Enterprises (BPE), although he had no authority to do so.

    Dr Reuben Jaja, Chairman of BFI Group, the consortium that was declared winner of ALSCON by the Supreme Court told The Nation that Nicholai alone signed the SPA with the BPE under fraudulent circumstances.

    He said: “When we pressed Nicholai in the US court, he testified under oath and submitted written document that he had no such power or authority to sign that document. In other words, the agreement is null and void.

    “He has realised that he has committed a fraud against Nigeria. He is not going to come to Nigeria if the judge transfers our case from New York to Nigeria.”

    According to Jaja, the company that bought ALSCON is known as Daison Holdings Limited and it is registered in the British Virgin Island. It is the only name on the SPA between Nigeria and RUSAL, adding that there is nothing about RUSAL in the document.

    “If you want to enforce anything on ALSCON, it will be against Daison Holdings Limited. We sued them all in the USA (Daison, RUSAL all of them). We forced them to come and tell the world who they are. Daison came and they have only Mr John Martin Parker as the sole director with no overlap of board or management position with RUSAL,” the BGI Group boss said. The company has no ownership interest with RUSAL. RUSAL, he said, also denied this and fraudulently described Daison as an indirect subsidiary of an unknown company.

    Jaja said three Nigerians identified as a former security topshot, the son of a former military head of state and another son of a civilian president, colluded with Daison to perpetrate the fraud.

    “They all hid behind Daison, so John Martin Parker is like a trustee of a blind trust and the Daison Holding is a commonwealth trust registered in Totola British Virgin Islands,” he explained.

    He said as a result of this development, BFIG has requested to be joined in the case at the International Court of Arbitration. “We will reveal that there is no valid contract. They illegally occupied the plant and ran the plant down thereafter, the EFCC (Economic and Financial Crimes Commission) will take over the case because it’s an absolute crime against the nation,” he said.

    Jaja noted that before BFIG went to court, “RUSAL made sure that the share purchase agreement specifically made mention of us that if we should come after them, the Federal Government of Nigeria will pay.”

    RUSAL has threatened to go to the International Court of Arbitration demanding that Nigeria pays $500 million when its audited financial statement says that the plant it got for a value of N127 billion is worth N14 billion.

    Speaking as a leading Niger Delta figure, Jaja disclosed that following government’s inability to execute the Supreme Court order instructing the government and the BFIG to adopt a mutually agreed share purchase document with the government collecting 10 per cent of whatever is the agreed price of the plant, the Niger Delta people have vowed to resist any disobedience to the country’s rule of law by a foreign business interest.

    Jaja said the involvement of the Niger Delta region in the ALSCON saga “is the struggle of the Niger Delta people, my great grand father was a pioneer of the struggle in the region, King Jaja of Opobo.”