Firm Sues Sterling Bank, Church, Demands $14.6m
BY OLUGBENGA SOYELE, Lagos
DN Tyre and Rubber Plc (formerly Dunlop Nigeria Plc) has dragged Sterling Bank and Lagos church before Lagos State High Court, Ikeja over alleged illegal and forceful takeover of its property located at Oba Akran Avenue, Ikeja area of the state.
The company is demanding $14.6 million as damages for alleged illegally encroachment and an order restraining the defendants from further entering, encroaching on or further building or develop the land.
Other defendants in the case are: the Registered Trustee of the Word of Power Global Ministries International, Pastors Harriet Olubiyo, Akin Ayanwale, Lagos State Attorney General and Commissioner for Justice and Lagos Land Use and Allocation Committee.
The defendants were alleged to have conspired to illegal acquired 12,500 Square metres from the Claimant’s 20.22 acres at plot 23 Oba Akran Avenue.
According to the Claimant’s claim, the bank allegedly set the machinery in motion for the alleged forceful acquisition of its property by prematurely calling up a loan facility and subsequently selling the land to the church.
However, the bank in its response absolved itself of any wrongdoing in the matter. In its consequential statement of defence, the bank stated that the Claimant voluntarily offered the land to it, to liquidate its indebtedness.