Okereke-Onyiuke, others restrained from NSE property

Justice Mohammed Yunusa of the Federal High Court, Lagos has granted an interim injunction restraining the former Director Genral of the Nigerian Stock Exchange (NSE), Dr. Ndi Okereke- Onyiuke and five others from tampering with the property lying at No 2, Temple Road Ikoyi Lagos.

The injuction followed an exparte application brought against the defendants by Chief Bolaji Ayorinde SAN last Friday. Aside Okereke-Onyiuke, other defendants in the suit include Mr Lance Musa Elakama, Hybrid Properties Limited, Oak Businesses and Finance Company Ltd, The Honourable Minister of Land, Housing and Urban Development and the Federal Lands Registry.

The action delineated FHC/L/15/405/15 was brought pursuant to order 26 rules 2, 7 (1), (2) and (3) and order 28 of the Federal High Court (Civil procedure) rules 2009, and under the inherent jurisdiction of the honorable Court.

“An interim injuction restraining the defendants whether by themselves, their servants, agents, privies, representatives or anybody whomsoever acting on their behalf from disposing, assigning , alienating, mortgaging, leasing or dealing in any manner whatsoever on all that property lying at No 2, Temple Road Ikoyi pending the hearing and determination of the motion is hereby granted”, said the court.

In a 42 paragraph affidavit, in support of its motion and deposed to NSE Head of Legal and Regulations, Tinuade Awe, the firm averred that the first defendant was its erstwhile Director-General and is the alter ego and majority shareholder of a Hybrid Properties Limited.

The plaintiff further averred that the second defendant was the erstwhile Assistant Director-General of the plaintiff and is the majority shareholder and the alter ego of Oak Businesses and Finance Company.

The sixth defendant is a body corporate created by statue and statutorily empowerd and authorized to oversee the registration of all title transfer documents relating and pertaining to the transfer of proprietory interests in real property having as its root of title, a Certificate of Occupancy issued under the hand of the fifth defendant.

The plaintiff said the first defendant acting in concert with the second defendant and upon a false resolution of the plaintiff, unlawfully and illegally executed a deed of Assignment dated 20th May 2007, in favour of the third defendant, by which the plaintiff purportedly transferred its proprietary interest in a part of the plaintiff’s property situate at No 2, Temple road Ikoyi to the third defendant. The matter has been adjourned to 17 April 2015.


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