Over 300 families who are residents of Osapa London Area, along Lekki-Epe Expressway in Lagos state have raised alarm over alleged moves by the Asset Management Corporation of Nigeria (AMCON) to forcefully evict them from the areas.
Speaking on behalf of other residents of the area to journalists, a lawyer, Benjamin Atebe said the contentious properties cover about 33 hectares of land at Victory Park Estate, located in Osapa London.
“As far back as 2003 some of us bought into Victory Park Estate land to develop our houses after doing our due legal diligence and confirming at the Lagos State Land Registry that the title to the land that is in the name of Knight Rook Limited was free from any encumbrance.
“The legal interpretation of this was that the title was good, no mortgage, pledge, charge etc that had been obtained against it by any financial institution or any other company,” the lawyer said.
Atebe recalled that from 2003 till about June 2017, the present homeowners in the estate continued to buy into the estate and also developed, living in the estate without molestation by anyone, either government or otherwise, paying their Land Use Charge to Lagos State annually after having various titles to their properties registered.
He said to the residents’ amazement, they all woke up few days ago to see a publication that Knight Rook Limited, the owner of the global C of O over Victory Park Estate was in Receivership with other companies over a loan one of the companies, Grant Properties Limited, allegedly took from Sterling Bank, Skye bank (now Polaris bank), Wema Bank and FCMB and used Knight Rook Limited with its shares as security that the companies have defaulted in paying while the said loan, now an eligible bank assets was subsequently sold to AMCON in 2011 or 2012.
“With the receivership by AMCON of Knight Rook Limited and by virtue of assets of Knight Rook Limited, AMCON is now laying claim to all the land in Victory Park Estate whether already sold and developed years ago or not and have continued to harass innocent bonafide purchasers without notice of their interest,” Atebe said.
However, the AMCON spokesperson, Jude Nwazor, said the financial regulatory institution does not expect people to go on the street and protest when they could have headed for the court.
He said AMCON have already secured two judgements in its favour and if the said properties truly belong to the affected persons they can decide to go on Appeal.
“What they have narrated to journalists was half truth. As we speak, we have an Appeal Court verdict in our favour. That was the second. We have won at the Federal High Court earlier.
“Few days ago, AMCON has published an advertorial, stating its position in national dailies. If they feel aggrieved, they should channel their grievances to the court and not on the street,” Nwazor said.
