Appeal Court nullifies GTBank’s foreclosure of Abiola family mansion.
The Court of Appeal, Lagos Division, has set aside the 2014 judgment of the Federal High Court in Lagos that authorised Guaranty Trust Bank Plc to take possession of a N30 billion, 44-room mansion in Ikoyi, Lagos, owned by Alhaji Agboola Abiola, son of the late Chief M.K.O. Abiola.
In a unanimous judgment delivered on June 18, 2025, and with the Certified True Copy dated June 19, 2025, the appellate court declared the foreclosure invalid, citing irregularities in the legal mortgage that GTBank had used to substantiate its claim to the property.
Justice Paul Bassi, delivering the lead judgment, stated that the Federal High Court had erred by failing to address credible allegations of forgery and document manipulation raised by the appellants.
The appeal marked CA/L/888/2014 was Instituted by RCN Network Limited and Alhaji Si-Nurani Abiola as appellants, with GTBank as the sole respondent.
The Court of Appeal, Lagos Division, has set aside the 2014 judgment of the Federal High Court in Lagos that authorised Guaranty Trust Bank Plc to take possession of a N30 billion, 44-room mansion in Ikoyi, Lagos, owned by Alhaji Agboola Abiola, son of the late Chief M.K.O. Abiola.
In a unanimous judgment delivered on June 18, 2025, and with the Certified True Copy dated June 19, 2025, the appellate court declared the foreclosure invalid, citing irregularities in the legal mortgage that GTBank had used to substantiate its claim to the property.
Justice Paul Bassi, delivering the lead judgment, stated that the Federal High Court had erred by failing to address credible allegations of forgery and document manipulation raised by the appellants.
The appeal marked CA/L/888/2014 was Instituted by RCN Network Limited and Alhaji Si-Nurani Abiola as appellants, with GTBank as the sole respondent.
Appeal Court nullifies GTBank’s foreclosure of Abiola family mansion.
The Court of Appeal, Lagos Division, has set aside the 2014 judgment of the Federal High Court in Lagos that authorised Guaranty Trust Bank Plc to take possession of a N30 billion, 44-room mansion in Ikoyi, Lagos, owned by Alhaji Agboola Abiola, son of the late Chief M.K.O. Abiola.
In a unanimous judgment delivered on June 18, 2025, and with the Certified True Copy dated June 19, 2025, the appellate court declared the foreclosure invalid, citing irregularities in the legal mortgage that GTBank had used to substantiate its claim to the property.
Justice Paul Bassi, delivering the lead judgment, stated that the Federal High Court had erred by failing to address credible allegations of forgery and document manipulation raised by the appellants.
The appeal marked CA/L/888/2014 was Instituted by RCN Network Limited and Alhaji Si-Nurani Abiola as appellants, with GTBank as the sole respondent.
