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Ex-lawmaker tackles Union Bank over sale of property

Posted by By OYE OGUNWALE on 2007/07/12 | Views: 559 |

Ex-lawmaker tackles Union Bank over sale of property


Former member of Ogun State House of Assembly, Honourable Ganiyu Ajibola Ogunsiji has appealed to the Union Bank of Nigeria Plc to obey court judgment and refund N1.5 million he paid to the bank in 1993 plus 21 per cent interest, forthwith.

Former member of Ogun State House of Assembly, Honourable Ganiyu Ajibola Ogunsiji has appealed to the Union Bank of Nigeria Plc to obey court judgment and refund N1.5 million he paid to the bank in 1993 plus 21 per cent interest, forthwith.

Speaking to Daily Sun in Lagos at the weekend, Honourable Ogunsiji claimed that the Union Bank placed an auction notice for the sale of a property situated at House Number 24 Olakunle Selesi Crescent, Ajao Estate Lagos in 1993 and paid the said amount as the highest bidder, in order to purchase the said property.

He further claimed that initially, he was not put into possession of the property, neither was he given title documents for it. But after several demands, he was given a title document with wrong survey plan which he complained about and rejected.

He learnt later that the property in question was under litigation, which was not disclosed to him by the bank.
Ogunsiji further told Daily Sun that after several correspondences with the bank, which were not satisfactory, he sued the bank and the auctioneer and an Ikeja High Court presided over by Mr. Justice Y.A. Adesanya gave a judgment in his favour on April 22, 2004.

The Union Bankís defence was that the plaintiff paid the said money into the account of the property owner, who had defaulted in paying a loan granted to him by the bank.
This defence was rejected by the court because, according to the court, the auctioneer was acting on the instruction of the bank to sell the property in question.

The Union Bank later filed a motion for a stay of execution at the Court of Appeal, which was struck out on December 7, 2005, said Honourable Ogunsiji.
He claimed that since 14 years ago, the Union Bank is still holding on to his money, plus the interest rate ordered by the court.
The former legislator is now appealing to the management of the Union Bank to obey courtís order and refund his money, which he claimed, was got as a loan from another bank.

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Fay(Katy, Texas, US)says...

Actually translates to bravehearted.