Law  

Court quashes Access Bank’s suit against Cybernetics

Court

Court

Justice Rita Ofili-Ajumogibia of a Federal High Court sitting in Lagos has struck out a land dispute suit filed by Access Bank Plc against an oil marketer, Mr. Andy Isichei and his company, Cybernetics International Services Limited.

The judge absolved Isichei and his company (Cybernetics International Services Limited) of any complicity to warrant being joined in the suit.

The plaintiff (Access Bank) had in June 2010 instituted the suit FHC/L/CS/692/2010 over a property at 7, Ojora Street, Ikoyi, Lagos against the then Lagos State Governor, Babatunde Fashola (SAN), Lagos State Attorney General, Supo Sashore (SAN), ‎Nigerian Navy, Chief of Naval Staff, Rear Admiral Sa’ad Ola Ibrahim, Cybernetics International Services Limited and Andy Isichei as first to sixth defendant respectively.

The bank said it advanced facilities to Cybernetics guaranteed by Andy Isichei, and the said property was used as Collateral for the said facility and after much efforts at recovering the loan, it then entered into a term of settlement, offering the property as full and final settlement of the indebtedness.

“The plaintiff averred that it entered into terms of settlement with the 5th and 6th defendants accepting the property lying and situate at No 7 Ojora Street, Ikoyi, Lagos as full and final settlement of their indebtedness “The plaintiff averred that the 6th defendant (Andy Isichei) handed over his Certificate of Occupancy in respect of the property lying and situate at No 7 Ojora Street, Ikoyi, Lagos registered as No. 60 at Page 60 in Volume 111 at the Federal Lands Registry, Ikoyi, Lagos State”.

Access Bank however said it was surprised when on June 4, 2010, one Victor, a naval officer representing the Nigerian Navy visited the property and informed the private security guards positioned at the location that the property has been re-allocated to Lagos State and that they should vacate the property.
“The plaintiff averred that on Monday the 8th of June 2010, the said Victor, a naval officer visited the property in company of stern looking policemen who took several photographs and physically threatened to assault the guards on duty.

“The plaintiff (Access bank) averred that it was not aware of the steps taken by the 1st to 4th defendants in respect of its lawful property.

“The plaintiff (Access Bank) averred that the institution of the suit became necessary due to the impending actions of the 1st to 4th defendants with regard to its lawful possession of its property”.

However Justice Ofili-Ajumogobia in her ruling, struck out the bank’s case against the 5th and 6th defendants, Isichei and his company Cybernetics International Services Limited respectively having proven beyond reasonable doubt that it had nothing to do with the property again having used it to pay back his facilities to the bank after the arguments of Mackings Nezianya, counsel to 5th and 6th defendants.



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