High Court Rejects Union Bank’s Claim To Osborne Towers, Ikoyi Flat


The Federal High Court sitting in Lagos has dismissed claims of Union Bank PLC to Flat 7B, Osborne Towers, Ikoyi, Lagos.

The Federal High Court in Lagos has dismissed the claim of Union Bank Plc to Flat 7B, Osborne Towers, Ikoyi, Lagos.

The court ordered a permanent forfeiture of the property to the Federal Government, describing the bank as a busybody.

In April 2017, the apartment attracted the public when large sums of money $43,449,947, £27,800 and N23, 218,000 (about N13bn) – was recovered from it.

According to EFCC, the cash was stashed away in iron cabinets and bags – “Ghana-must-go” in the apartment.

The anti-graft agency later traced the ownership of the apartment to Mrs. Folashade Oke, the wife of the suspended Director General of the National Intelligence Agency (NIA), Ayodele Oke.

The agency claimed that its investigations revealed that Folashade bought the properties with proceeds of fraud by her husband.




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