The Federal High Court in Lagos has placed a Victoria Island property under interim receivership due to a dispute between Maryam Abacha and a property development company, Levitikal Realties & Construction Limited. The property, located at No. 68 Molade Okoya Thomas Street, off Ajose Adeogun Street, Victoria Island, Lagos, is linked to Mrs. Abacha, the widow of former Nigerian dictator Sani Abacha.
According to the Certified True Copy of the court order, Judge Ambrose Lewis-Allagoa issued the order on September 29, appointing the court's Deputy Chief Registrar or an official receiver as receiver/manager of the property. The judge also barred Levitikal Realties & Construction Limited, its agents, directors, and others acting on its behalf from dealing with the property in any way.
The dispute began with a Property Development Joint Venture Agreement between Mrs. Abacha and Levitikal on May 13, 2021, for the redevelopment of the property into 18 three-bedroom flats. The agreement stated that nine of the completed flats would go to Levitikal as consideration for the development. However, Mrs. Abacha's son, Sadiq Mohammed Abacha, alleged that Levitikal breached the agreement by failing to obtain statutory building approval and complete the project within the agreed period.
The affidavit filed in support of Mrs. Abacha's application stated that she had revoked the power of attorney in May and terminated the joint venture agreement. It also alleged that Levitikal used the property as collateral for credit facilities from Providus Bank Limited, despite not having an interest in the property. Furthermore, Levitikal was accused of continuing to market the property to prospective buyers after the joint venture was terminated.
Under the court order, the deputy chief registrar of the Federal High Court or an official receiver will take possession, custody, and control of the property pending the hearing of the motion on notice. The court also allowed a property management firm, including Bola Adebule & Company, Estate Surveyors and Valuers, or another suitable firm registered with the Lagos State Real Estate Regulatory Authority, to be appointed.
The court authorized Mrs. Abacha to publish the order in national newspapers and online media to notify prospective purchasers, lenders, investors, and other interested parties about the case. The Nigeria Police Force, Inspector-General of Police, Assistant Inspector-General of Police, Zone 2, Lagos, Commissioner of Police, Lagos State, EFCC, and other relevant law enforcement agencies were directed to provide security and assistance in enforcing the order.
The order is interim and does not finally determine ownership of the property or the substantive rights of the parties. The case was adjourned until November 9.
Key points
- The Federal High Court in Lagos has appointed an interim receiver over a disputed Victoria Island property linked to Maryam Abacha.
- The dispute arose from a breached property development agreement between Mrs. Abacha and Levitikal Realties & Construction Limited.
- The court order bars Levitikal from dealing with the property and directs law enforcement agencies to provide security and assistance in enforcing the order.
