Ikoyi cash: Union Bank challenges final forfeiture of Osborne Towers apartment

  • Posted on: 30 November 2017
  • By: editor

Union Bank of Nigeria Plc has challenged the permanent forfeiture of the property known as Flat 7b No 16, Osborne Road Ikoyi, Lagos.

It’s the property linked to the dismissed Director General of the National Intelligence Agency, Ambassador Ayo Oke where the EFCC recovered the sums of $43,449,947.00, €27,800 and N23,218,000.00 on the 12th of April, 2017.

At the Federal High Court Sitting in Lagos on Thursday, Union Bank laid claims to the flat and the building which it says came into its possession following a mortgage agreement between the bank, the original owner of the property, former PDP Chairman, Adamu Muazu and Tripple A Properties Investment Ltd.

Tripple A which is believed to be owned by Mr Muazu had allegedly used the property to secure a loan from the Union Bank sometime in 2011.