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ECOBANK MANAGER LINKED WITH PLANS BY IMPOSTER TO USE DEAD MAN’S PROPERTY AS LOAN COLLATERAL

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Police detectives have foiled the alleged plans by the Manager of Ecobank PLC, Oke Afa branch, Ejigbo area of Lagos, to use the property of a late elderly man, who died and was buried in 2018 as collateral by an imposter.

At the time the alleged scam happened, the family stated that elder James Oladipo Sodehinde had died since the 3rd day of September, 2018 and was buried on the 26th day of October 2018 at the African Church Cathedral, Owu, Abeokuta, Ogun State.

However, the scam got exposed and the family has now instituted legal action against Ecobank and one Gregory Odutayo said to have conspired with the Bank Manager to use the house documents as collateral in order to secure a loan.

In the suit filed by the family’s Counsel, Barrister Adejumo Omobolaji Jubril, before Lagos Court, the family is asking for N10m general damages for the trauma the defendants made the complainants to suffer during the period to secure their property back.

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Pa James Sodeinde, the late customer

In the suit filed by Olurotimi Sodehinde on his behalf and that of the children of their late father, Pa James Sodeinde, seeks to establish that the defendants wrongly and negligently placed wrong encumbrance on the claimant’s property at the land registry in Ibadan, Oyo State. And N10m damages jointly and severally against the defendants for legal fees, emotional pains and anxiety the claimants suffered over wrong encumbrance place on the property heredited by the claimants.

In the statement of claims on the suit with number MCL/577/2022, the claimant stated as follows:

The claimant and their family had appointed D-P Dupe Ogunbosi & Co Estate Surveyors & Valuers as their agent to sell the said hereditament.

That the 2nd Defendant had earlier shown interest to purchase the said hereditament situate at SW8/1285 Sodehinde Street, off Antani Road, Ring Road, Ibadan, Oyo state.

Photocopies of the title document were given to the 2nd Defendant thereafter he stopped contacting the claimant family or their agent.
On or about the 10th day of June 2021 another prospective buyer, Momas Electricity Meters Manufacturing Company Limited, contacted the 1st claimant’s agent with respect to the said property.

The said prospective buyer conducted a search at the land’s registry and thereafter called off the transaction, he however informed the claimant’s agent that the property is encumbered.

The said prospective buyer brought a report which among other things shows that:

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The property is located at Plot 6 Ring Road, South West Ibadan, Oyo State.

Conveyance dated 5/08/1963 by Olu Ayoola to Akanni Olaosebikan registered as 34/34/687 dated 31/10/1969 and later transferred to Sodehinde registered 22/22/1163.

Certified true copy of the conveyance was issued to Dele Olomola & Co on behalf of ECOBANK Nigeria Ltd for perfection of legal mortgage dated 22/01/2021.

The 1st Defendant by an email emanating from Okereke Vanessa (chokereke@ecobank.com) of the legal and regulatory unit of the 1st defendant bank instructed the law firm of Dele Olomola & Company to conduct a search on the Claimant hereditament without any legal basis or need.

That towards perfecting the brief the said Dele Olomola on behalf of the bank deposed to an affidavit dated the 14th day of January 2021.

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That the said Dele Olomola on behalf of the 1st Defendant made averments to the effect that Mr. Ladipo James Sodehinde the grantee and holder of the land situateat plot 6 femi ayoola layout ring road Ibadan was at the bank to negotiate legal mortgage and has submitted a copy of the title document to the 1st defendant for legal search and verification.

That at all times material of this action elder James Oladipo Sodehinde had died and he had since died since the 3rd day of September 2018 and had been buried since the 26th day of October 2018 at the African Church Cathedral, Owu, Abeokuta.

The claimant will contend at the trial of this suit that the 2nd Defendant acting in concert with staffs of the 1st Defendant Bank at its Oke-Afa branch, whose identifies are unknown to claimant and who are acting under the control and direction of the 1st Defendant in the performance or purported performance of their duties criminally misrepresented to the Ministry of Lands, Housing & Urban Development of Oyo State that the deceased Elder Sodehinde approach the 1st Defendant for a loan.

That acting in reliance on the application of Dele Olomola & Company and the affidavit in support of application for application for CTC on behalf of the 1st Defendant and not otherwise the Ministry of lands, housing & urban development issued to the 1st Defendant a Certified True Copy of the Claimant’s property and proceeded to enter same in their record books thus constituting caveat against the sale of the property.

Further to the above a CTC of the document was issued to the 1st Defendant.

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The issuance of CTC to the 1st Defendant constitutes an encumbrance on the land.

That it was not until the police opened investigation into the matter following complaint by the Claimant that the 1st Defendant returned to the land’s registry the CTC of the title document it had fraudulently and/or illegally processed and obtained.

The Claimant avers that he cannot come to the true and full knowledge as to the joint and several responsibilities of the Defendants except by discovery.

By a letter dated the 22nd day of June 2021 and addressed to the branch Manager Ecobank-Nigeria Ltd, SEARCH PROCESS, REPORT AND SUBSEQUENT DEVELOPMENT, the 2nd Defendant admitted using the claimant’s hereditament in connection with a mortgage facility as approved by the 1st defendant.

Consequent upon the issuance of the Certified True Copy of the title document of the property situate at SW8/1285 consisting of a storey building and a bungalow registered as No 22 at page 22 in volume 1163 of the Lands Registry, Ibadan to the 1st Defendant for the purpose of a legal mortgage the Claimant had not being able to sell the property precipitating a loss of value.

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The Claimant will at the trial of this suit contend that the 1st Defendant was negligent in it’s dealings with the 2nd Defendant by ignoring the canons of lending thereby injuring the Claimant.

By reason of the facts set out above the claimants faced the fear and anxiety of losing their hereditament.

The Claimant is entitled to and claims aggravated and exemplary damages.

It is the contention of the Claimant that even though there was no privity of contract between them and the Defendants, the defendants owed to them jointly and severally a duty of care to make sure the Claimants were not hurt by their actions or inactions.

That the Defendants breached this duty of care they owed to the Claimants.

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That the Claimants were hurt as a consequence and have suffered pain and injury and sustained loss and damages.

The matter has been assigned to Igbosere Magistrate Court 10 sitting as Court 2 Yaba, Lagos State.

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Crime

Lagos teenager dies after father’s beating

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Lagos teenager dies after father’s beating

The Police in Lagos State have begun an investigation into the death of a 19-year-old boy allegedly beaten to death by his father.

The Lagos Police Public Relations Officer, SP Benjamin Hundeyin, confirmed the incident on Thursday.

 

Also read: Police arrest man with human skull in Ogun

 

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The spokesperson said that the Alagbado Police Division received a report of the alleged crime on Tuesday.

He said, “At about 12.00 p.m. on July 5, at about 2.00 p.m., one Olumide gave his son, Adeyemi a deep cut under moderate correction, at his right hand side with a shovel over an undisclosed offence.”

Hundeyin said that the young man sustained injury as a result of the impact of the shovel attack

“The young man was immediately rushed to the hospital for treatment.

“But when the injury became serious, he was taken to the General Hospital Ikeja, where he gave up the ghost as a result of tetanus infection, as confirmed by the doctor on duty.

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“The scene was visited by detectives of the division.

“However, the father of the victim is currently at large and the case is under investigation,” he said.

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Crime

Police hunt ‘area boys’ for killing final-year Bayelsa varsity student over N150 levy

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Police hunt ‘area boys’ for killing final-year Bayelsa varsity student over N150 levy

There is outrage in Amassoma, Southern Ijaw Local Government Area of Bayelsa State following the stabbing to death on Monday of a final-year student of the Niger Delta University.

Community sources who spoke to our correspondent on Wednesday said the victim, Francis Palowei, was at the Sand Dump, a popular spot among the students for relaxation and socialising when some youths in the area stabbed him to death when he failed to give them N150.

 

Also read: From lounge to Kirikiri prison, Nigerian DJ alleges police brutality

 

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Palowei, who hailed from Obrigbene community in the Ekeremor Local Government Area of Bayelsa State, was expected to graduate on Wednesday, July 24, 2024, when the university would hold its next convocation.

Theheute gathered that men of the Nigeria Police Force had gone to the community and started searching for the perpetrators.

According to one source, who pleaded anonymity, students of the institution have also joined in the search for the perpetrators while the shock of the incident has made some students shun classes, with a greater majority attending classes.

The Public Relations Officer of the university, Indoni Engezi, who confirmed the incident, told Theheute that the incident did not affect academic activities as “the university is a different community.”

Engezi said the issue affected the host community, Amassoma, and that the police were already on top of the situation.

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“The owner of the sand dump does not charge any fees for using the premises, but some youths usually charge N150 from anyone who wants to use the premises”, he said.

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The Police Public Relations Officer, Musa Mohammed, said the Commissioner of Police, Francis Idu, had deployed additional manpower to the community to maintain the peace.

Mohammed said the police had launched a manhunt for the killers.

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FG gets over $751m World Bank loan

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FG targets 2.1 million barrels of daily production by December 2024

The Federal Government has obtained $751.88m out of the recently approved $1.5bn loan by the World Bank.

The loan under the Nigeria Reforms for Economic Stabilisation to Enable Transformation, Development Policy Financing Programme project was disbursed on June 28, 2024, documents from the global financial institution seen by Theheute indicated on Wednesday.

 

Also read: School Feeding: FG To Explore PPP As World Bank, UNICEF, Pledge Support

 

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This loan project is a part of the broader $2.25bn approved by the World Bank for Nigeria on June 13, 2024, to bolster Nigeria’s economic stability and support its vulnerable populations.

The $1.5bn loan comprises two separate agreements between Nigeria and the World Bank: An International Development Association credit of $750m, and an International Bank for Reconstruction and Development loan of $750m.

The amount disbursed includes the entire $750m from the IDA loan and $1.88m from the IBRD of the World Bank, with an undisbursed balance of $748.13m.

It also had fee charges of $1.88m.

The proposed DPF for Nigeria consists of a standalone operation with two tranches designed to support significant reforms in alignment with the government’s economic stabilisation and recovery priorities.

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This operation is structured around four key results distributed across two pillars, which include increasing fiscal oil revenues from 1.8 per cent of Gross Domestic Product in 2022 to 2.7 per cent by 2025, boosting non-oil fiscal revenues from 5.3 per cent to 7.3 per cent over the same period, expanding social safety nets to assist 67 million vulnerable Nigerians, and raising the import value of previously banned products from $11.3m to $54.6m by 2025.

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The Federal Ministry of Finance is tasked with the implementation of these reforms, working under the oversight of the World Bank, which collaborates with other key national stakeholders such as the Central Bank of Nigeria and the Ministry of Humanitarian Affairs and Poverty Alleviation to monitor and assess the progress and impact of these reforms.

The World Bank will provide supervision and support throughout the implementation process, ensuring that the operation’s goals are met efficiently and effectively.

According to the financing agreement documents for the loan, Nigeria is expected to meet certain conditions to get the entire funds.

Recall that both IDA Credit and IBRD loan agreements have the same requirements, according to the loan agreement documents obtained from the World Bank.

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Some of the actions to be undertaken under this loan project include a presidential executive order mandating all fiscal transfers to the Federal Government, including those from crude oil sales and gasoline imports, to be executed at the prevailing market exchange rate within a specified implementation period.

The submission of a draft bill to the National Assembly to progressively increase the VAT rate to at least 12.5 per cent by 2026 and allow input tax credits for capital and services.

Also, the World Bank included a submission of a revised bill to the National Assembly mandating the use of the national social registry as the primary targeting tool for social investment programmes.

The documents read, “No withdrawal shall be made of the single withdrawal tranche unless the bank is satisfied, after an exchange of views as described in paragraphs (a) and (b) of Section 3.01 of Article III of this agreement based on evidence satisfactory to the bank with the progress achieved by the borrower in carrying out the programme;

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“That the macroeconomic policy framework of the borrower is adequate;

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that the actions described in Section I.B [which are the key requirements presented in the next section of this report] of this schedule have been taken.

“If, after this exchange of views, the bank is not so satisfied, it may give notice to the Borrower to that effect and, if within 90 days after the notice, the borrower has not taken steps satisfactory to the bank, concerning paragraphs (a), (b) and (c) above, then the bank may, by notice to the borrower, cancel all or any part of the unwithdrawn loan balance.”

So far, Nigeria has made progress in some areas, such as increasing petrol prices and implementing cash transfer programmes.

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