{"id":68646,"date":"2025-06-20T13:12:44","date_gmt":"2025-06-20T13:12:44","guid":{"rendered":"https:\/\/abujacityjournal.com\/livenews\/?p=68646"},"modified":"2025-06-20T13:12:44","modified_gmt":"2025-06-20T13:12:44","slug":"abiolas-son-wins-n30-billion-queens-drive-property-case-against-gtbank","status":"publish","type":"post","link":"https:\/\/abujacityjournal.com\/livenews\/2025\/06\/20\/abiolas-son-wins-n30-billion-queens-drive-property-case-against-gtbank\/","title":{"rendered":"Abiola\u2019s Son Wins N30 Billion Queens Drive Property Case Against GTBank"},"content":{"rendered":"<p><strong>By Huldah Shado<\/strong><\/p>\n<p>&nbsp;<\/p>\n<p>The Lagos Division of the Court of Appeal has ruled in favor of Alhaji Agboola Abiola, son of the late MKO Abiola, in a high-profile property dispute involving a 44-room mansion valued at N30 billion on Queens Drive, Ikoyi, Lagos.<\/p>\n<p>The appellate court overturned a 2013 Federal High Court judgment that had permitted Guaranty Trust Bank (GTBank), to foreclose on the property.<\/p>\n<p>In its decision, the court declared that the mortgage document presented by GTBank was defective and did not confer any legal ownership rights.<\/p>\n<p>According to the court, the mortgage agreement lacked the signature of Alhaji Abiola and contained handwritten alterations at the footer, which were absent from other pages of the document.<\/p>\n<p>These irregularities rendered the mortgage invalid, the court ruled, and incapable of transferring any interest in the property to GTBank.<\/p>\n<p>The judgment also discharged all encumbrances and claims GTBank had levied on the property in favor of RCN Networks Ltd, a company linked to the Abiola family.<\/p>\n<p>This legal victory is seen as a major win for the family and a landmark decision on the importance of proper documentation in mortgage transactions under Nigerian law.<\/p>\n<p>Senior Advocate of Nigeria Dr. Charles Adeogun-Phillips represented the Abiola family, while GTBank was represented by Mr. Norrison Quakers, SAN.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Huldah Shado &nbsp; The Lagos Division of the Court of Appeal has ruled in favor of Alhaji Agboola Abiola, son of the late MKO Abiola, in a high-profile property dispute involving a 44-room mansion valued at N30 billion on Queens Drive, Ikoyi, Lagos. The appellate court overturned a 2013 Federal High Court judgment that [&hellip;]<\/p>\n","protected":false},"author":33,"featured_media":68647,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[172],"tags":[],"class_list":["post-68646","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/68646","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=68646"}],"version-history":[{"count":1,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/68646\/revisions"}],"predecessor-version":[{"id":68648,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/68646\/revisions\/68648"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/68647"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=68646"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=68646"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=68646"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}