Appeal Court overturns GTBank’s foreclosure of Abiola family’s Ikoyi mansion
[NigerianEye - Nigeria] - 19/06/2025
The Court of Appeal in Lagos has nullified the 2014 judgment of a Federal High Court that allowed Guaranty Trust Bank Plc (GTBank) to take possession of a sprawling N30 billion, 44-room mansion in Ikoyi, Lagos, belonging to Alhaji Agboola Abiola, son of the late Chief M.K.O. Abiola. In a unanimous decision, Justices Paul Bassi, Polycarp Kwahar, and Abdulaziz Anka declared the foreclosure invalid, citing serious irregularities in the legal mortgage upon which GTBank had based its claim to the property. Delivering the lead judgment, Justice Bassi ruled that the Federal High Court erred by (…)
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