Benue State-born chieftain of the ruling All Progressives Congress (APC), Alhaji Usman Abubakar (popularly known as Young Alhaji) has described as nothing but contorted lies, the assertion by Asiwaju Ahmed Bola Tinubu and two others that he agreed to a renegotiated sum of Five Hundred Million Naira (500 Million) only from the initial Seven Hundred Million Naira (700 Million) only being paid for a property situated at No.8, Herbert Macaulay Crescent, GRA, Ikeja, Lagos, which he offered for sale sometime in February 2011.
Rulers’ World had in its April 2021 edition exclusively reported the institution of the case at a Lagos High Court.
Abubakar (2nd claimant), alongside his company, Hashihal Trading Company Limited (1st claimant) further claimed that he and Tinubu (2nd defendant), the self-styled National Leader of the APC, discussed the sale of the said property and agreed on the terms and conditions as captured in the agreement between Hashihal Trading Company Limited and Aranda Overseas Corporation and Wema Bank PLC (the first and fourth defendants in the suit. The agreement between the parties is dated 10th February 2011.
Abubakar, in his Statement of Oath, endorsed by his counsel, A. I. Wombo Esq. and Emmanuel Ogbeche Esq. of Wombo, Igba & Company and Trust Associates Legal Practitioners, averred that Tinubu introduced Aranda Overseas Corporation as his company and “insisted that the sale agreement should be in the name of the company as the purchaser of the property”.
He said it was agreed by the parties that the agreed purchase price of Seven Hundred Million Naira (N700,000,000,00) only be paid in two instalments as follows: N250,000,000,00 (Two Hundred and Fifty Million Naira) only; and N450,000,000.00 (Four Hundred and Fifty Million Naira) only.
He further claimed that Tinubu introduced Wema Bank PLC (the fourth defendant) to the transaction and it was agreed that the consideration for the property to be paid to him – Young Alhaji – be paid through the bank. He added that it was further agreed that on payment of the first instalment of Two Hundred and Fifty Million Naira (N250, 000,000.00) only to him, he should hand over all the original title documents in respect of the property to Wema Bank pending when the outstanding balance of Four Hundred and Fifty Million Naira (N450, 000,000.00) only was paid to him by Tinubu and Aranda Overseas Corporation on or before 14 working days from the date of the execution of the sale agreement.
Alhaji Abubakar, therefore, prayed the court for an order directing the defendants jointly and severally to pay him the outstanding balance; pay 22 per cent interest on the outstanding balance from March 2014 to when judgement is delivered; another 10 per cent interest per annum of the judgement sum till same is fully liquidated and an order restraining Wema Bank from handing over the title documents of the property to the defendants until the judgement sum is fully liquidated.
However, Tinubu and other defendants in the suit, in their joint statement of defence dated 7th February 2019, insisted that they have fulfilled the terms of the contract, noting that the court action is an attempt at “gold-digging, frivolous, baseless, vexatious, an abuse of court process and should be dismissed with substantial cost against the claimants”.
The defendants represented by their counsel, Adeleke Adeyemo Esq. and Adedayo Adeyemo Esq. of Adeleke Adeyemo & Co, Odojiku Chambers, said at no time was Tinubu “closely or remotely involved in any way with the negotiations, payment and renegotiation of the property transaction and he’s unknown totally to the real estate transaction in dispute.”
The third defendant in the case, Mr. Efuntayo Ibukun, in his witness statement on oath, averred that the claimants misrepresented the size of the property to Aranda Overseas Corporation as 4, 428. 85 SQ METERS, which was the basis of the initial agreement with the company. Ibukun, who claimed to have the authority of the first, second and third defendants to depose to the affidavit, further stated that the company later realised, upon taking possession, that the property was 4, 428sq yards, and not what was originally presented.
He insisted that pursuant to this, the first defendant renegotiated terms with the claimants and that parties agreed that the purchase price is fixed at N500 million, as the full and final purchase price.
He also added that in furtherance of the agreement, the first defendant prepared a Deed of Assignment between itself and Hashihal Trading Company Limited with consideration/purchase price set at Five Hundred Million Naira (N500 million) only and that the said Deed was duly executed by Alhaji Abubakar after parties had agreed to the renegotiated price due to the actual price of the property.
Ibukun stated further that the first defendant used a company in which it had an interest, Tupt Integrated Services Limited, to purchase the property.
Ibukun further averred that the claimants, in 2013, filed suit No. ID/ADR/937/13 at the Ikeja division of the Lagos High Court against the same set of defendants and that it was due to the intervention of Oba of Lagos who went ahead and released the sum of N50 million to the claimants in the suit. He contended that at no time did the first defendant agreed to pay an extra N150 million. He said he was aware that the claimants voluntarily filed a Notice of Discontinuance in suit No. ID/ADR/937/13 after collecting the said sum from the monarch.
Ibukun also stated that he is aware that after the initial receipt agreement between the claimants and the first defendant dated 10th February 2011, the first defendant renegotiated terms due to the reduced size of the property and the claimants went ahead to execute a receipt and a Deed of Assignment in favour of Tupt Integrated Services Limited for the sum of Five Hundred Million Naira (N500 million) only. He said the renegotiated receipt agreement was dated 21st April 2011.
Ibukun added that he travelled to Benue State in April 2011 to deliver the Deed of Assignment and receipt agreement for the renegotiated sum between Hashihal Trading Company Limited and Tupt Integrated Services Limited and that he was personally received by Alhaji Abubakar.
An Alternative Dispute Resolution (ADR) was set up and following an exchange of pleading, Young Alhaji and his company said they realised that the defendants introduced some new facts into the matter and that they deemed it expedient and necessary to address those facts for justice to be done in the matter.
The claimants are therefore praying Justice Latifat Abiola Folami (PhD) for an order permitting them to amend their statement of claim and other front-loaded court processes by the undermined portions of the proposed statement of claims and an order granting leave to the claimants/applicants to file amended written statements on oath of Alhaji Usman Abubakar (the 2nd claimant in the suit).
In the proposed amended statement of claim dated 14th September 2021, with identification number ID/ADR/693/2017, Young Alhaji and his company, contend that following their persistent demands for payment of the outstanding balance, the 1st and 2nd defendants made another part payment of Fifty Million Naira (N50,000,000, 00) only in 2014 after the institution of a suit against the defendants at the High Court Ikeja in Suit No: ID/ADR/937/2013 which suit was discontinued on the intervention of HRH Oba Akiolu of Lagos, to settle the matter.
Young Alhaji and his company further aver that, contrary to the position of the defendants, they never executed any Deed of Assignment in favour of the 1st – 3rd defendants or their agents or representatives. They insist that the defendants or any of them never brought any Deed of Assignment in respect of the property for the claimants’ execution.
The witness statement on oath deposed to by Alhaji Abubakar further informed the court that aside from the agreement between the claimants and 1st – 3rd defendants for the purchase of the property for the consideration of Seven Hundred Million Naira (N700,000,000.00) only, no other negotiation took place between himself and the defendants to review or renegotiate the agreed purchase price. For emphasis, he averred that there was never a time it was agreed between himself and the defendants to reduce the purchase price from Seven Hundred Million Naira (N700,000,000.00) only to Five Hundred Million Naira (N500,000,000.00).
He also insisted that at all material times in the transaction, the defendants were aware that the size of the property was approximately 4,428.85 square yards. Alhaji Abubakar also contends that Tupt Integrated Services Limited is unknown to him and his company and that they neither had any agreement with nor executed any Deed of Assignment in favour of the said Tupt Integrated Services Limited.
He further averred that out of high respect for HRH Oba Akiolu of Lagos, he accepted the further part payment of Fifty Million Naira (N50,000,000.00) only paid by the 1st – 3rd defendants through Oba of Lagos HRH Oba Akiolu on 18th February 2014 on defendants’ assurances that the balance of One Hundred and Fifty Million Naira (15,000,000,00) only will be paid not later than one month from the said date of 18th February 2014. He said it was based on this assurance that it discontinued Suit No. ID/ADR/937/2013 at Ikeja High Court.
As of the time of filing this report, the former Lagos State governor and the other defendants are yet to file their response to the amended statement of claim.
No date has been fixed for hearing of the suit.
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