Bank
Access Bank Win Against Sonny Odogwu’s Estate As Court Orders him To Pay N26bn Debt
Access Bank Win Against Sonny Odogwu’s Estate As Court Orders him To Pay N26bn Debt
Justice Daniel Osiagor of the Federal High Court, Lagos today upheld the N26 billion debt claim by Access Bank PlC against the estate of the late Ide Ahaba of Asaba, Chief Sonny Odogwu.
Osiagor upheld the bank’s claim after dismissing the preliminary objection filed by the estate of the late Chief Sonny Odogwu challenging the claim of the bank adding that a consent judgement had earlier been entered in which parties to the debt agreed on the payment of N12 billion as full and final payment.
The defendants in the preliminary objection added that having taking benefit of the consent judgement, the plaintiff can’t turn around and ask the court to set aside same.
However, Access Bank it it’s claim before the court said the said judgement was floored in that it was delivered by a court that lacked jurisdiction to entertain it at the time it was entered as consent judgement.
The bank through it’s counsel, Kemi Balogun, SAN said the matter having been placed at the bossom of the Court of Appeal , the lower court which entered the consent judgement as the judgement of the court is Functus Officio ( lacked jurisdiction) and that the only court that has the power to adjudicate on such matter at that level is the appellate court.
Justice Osiagor while dismissing the objection of the defendants nullified the consent judgement entered by Justice Rilwan Aikawa which sanctioned the consent judgement on the ground that it lacked jurisdiction to grant such order as it is functus officio of the matter as at the time he granted the order.
The judge then affirmed the earlier judgement of justice Saliu Saidu which ordered the defendants to pay it’s outstanding indebtedness of N26 billion.
Justice Osiagor however ruled that the payment must be less all amount earleir paid to the judgement creditor
The court also award a cost of N200,000 against the defendants’.
It would be recalled that Access Bank Plc and the late Ide Ahaba of Asaba, Chief Sonny Odogwu, entered into a N26 billion loan agreement when he was alive. The late businessman wanted to use the facility to build luxury apartments to be known as Le Meridien Grand Towers in highbrow Ikoyi, Lagos.
In line with global best practices, the bank demanded for collateral security.
Thus Odogwu mortgaged prime properties in Lagos, Abuja, Dubai, and Los Angeles to Access Bank in return for the facility. After the death of the businessman, the mortgaged properties eventually become a subject of litigation
Trouble started when the estate of the late Chief Odogwu, reacted angrily to a move by Access Bank to take over the uncompleted property due to the non performance of the loan.
The defendants’ went to town with a statement that the property was not part of the consent agreement reached by both parties, and registered as a judgment of Federal High Court, Lagos. The release signed by the estate lawyer, Chief Anthony Idigbe SAN was published by various media platforms on Tuesday.
Reacting to the statement, Access Bank said that the Ikoyi property was not the only one that fell within the purview of the November 3, 2015 Federal High Court judgment that ordered the bank to take over the properties used it as collateral in lieu of the N26 billion loan facility.
Other properties include Berendo Property located in Los Angeles, State of California, United States of America, Unit No: FN428, The Fairmont Palm Residence (North), Dubai, United Arab Emirates, Asokoro Shopping weMall, Abuja, 1 Happy Home Street, Kirikiri, Lagos, properties located at Kingsway and Lawrence Roads, Ikoyi Lagos.
Access bank also stated that it is is the successor in title to Diamond Bank Plc following its merger with Diamond Bank Plc.2
The crux of the matter was that former Diamond Bank PlC granted facilities to the Judgment Debtors for the construction of a property to be known as Le Meridien Grand Towers located and lying at 31-35 Ikoyi Crescent, Lagos and registered as No. 17 at page 17 in volume 100 at the Federal Lands Registry, Ikoyi, Lagos. The property is mortgaged to the bank as collateral for the facilities.
However, litigation that ensued over the inability of company, Robert Dyson & Diket Limited to liquidate the facility, Access Bank secured a Judgment in the sum of N26,229,943,035.22 consequent upon a Federal High Court judgment in Suit No. FHC/L/CS/1633/2014 delivered on 3rd November 2015 against Robert Dyson & Diket Limited & 2 Ors (the Judgment Debtors) in relation to the Project Finance for development of a seven-star hotel and residences (“the Project”).
Following the Judgment, Robert Dyson entered an Appeal against the said judgment and a motion staying the execution of same in APPEAL NO: CA/L/1151/2015 – ROBERT DYSON & DIKET LIMITED & 2 ORS. V. DIAMOND BANK PLC & 3 ORS.
The Judgment Debtors also filed a Counter-Claim against the Access Bank in the State High Court: SUIT NO: LD/1666CMW/2016 – LEADWAY CAPITAL & TRUSTS LIMITED V. DIAMOND BANK PLC & 2 ORS.
FirstBank Introduces Exclusive 500-Seater Bleacher at Carnival Calabar & Festival 2025
Lagos, 26 December 2025 – FirstBank, West Africa’s premier financial institution and financial inclusion services provider, has officially announced its sponsorship of the Carnival Calabar & Festival 2025, unveiling a landmark addition set to redefine the carnival experience — the first-ever private premium seating area at the event.
The highlight of FirstBank’s participation is the construction of a 500-seater premium bleacher, designed to provide comfort, safety, and an elevated viewing experience for carnival enthusiasts.
Speaking on the sponsorship, the Acting Group Head Marketing and Corporate Communications, FirstBank, Olayinka Ijabiyi, noted that the carnival aligns with the Bank’s First@Arts initiative, a platform dedicated to supporting the creative arts value chain across Nigeria. He said, “We recognise the transformative power of the arts, including carnivals, in inspiring people and strengthening national unity. For more than 131 years, we have supported platforms that promote self-expression, social reflection and cultural exchange. Our investment in the Carnival Calabar & Festival demonstrates our commitment to preserving the nation’s rich cultural heritage through First@Arts.”
“As part of our sponsorship this year, we are introducing the first-ever private 500-seater premium bleacher to further elevate the carnival experience. This exclusive seating is designed to provide exceptional comfort and an unforgettable viewing experience for attendees,” Ijabiyi added.
The Chairman of the Cross River State Carnival Calabar Commission, Gabe Onah, also commented on FirstBank’s sponsorship. “FirstBank’s involvement is a strong demonstration of private-sector support for culture and tourism. This partnership not only enhances the overall quality of the carnival but also strengthens its global appeal,” he said.
The Carnival Calabar & Festival 2025 is officially marketed by Okhma Global Limited, the appointed Official Marketer responsible for brand partnerships, promotional engagements, and ticket sales. Okhma Global Limited has partnered with the Cross River State government in delivering Carnival Calabar & Festival for over ten years, playing a key role in strengthening the carnival’s commercial growth and global visibility.
Alpha Morgan Bank Backs Cultural Preservation at the 2025 Iganmode Festival
Alpha Morgan Bank has reaffirmed its commitment to cultural preservation and community development as one of the major sponsors of the recently concluded Iganmode Cultural Festival (Odun Omo Iganmode) held in Sango-Ota, Ogun State.
The annual festival, a landmark cultural celebration in the ancient town of Ota, showcased the rich heritage, history, and identity of the Awori people. The event came alive with vibrant displays of traditional music, dance, colourful regalia, and performances that reflected the deep-rooted customs and values of the community.
Alpha Morgan Bank’s sponsorship followed closely on the heels of the recent launch of its Sango-Ota branch, further underscoring the Bank’s dedication to supporting local initiatives, promoting indigenous culture, and fostering sustainable community development in Ota and its environs.
The ceremony attracted an impressive array of dignitaries, including former President of Nigeria, His Excellency Chief Olusegun Obasanjo; Deputy Governor of Ogun State, Engr. (Mrs.) Noimot Salako-Oyedele; and the Olota of Ota, His Majesty, Prof. Adeyemi Obalanlege, alongside several other traditional rulers and members of royal households from across the state. Their presence highlighted the cultural and historical significance of the festival to Ogun State and the wider Yoruba nation.
Alpha Morgan Bank’s participation as a major sponsor reflects its broader corporate vision of strengthening community values and supporting initiatives that promote Nigeria’s rich cultural heritage. The Bank joined thousands of attendees in celebrating a festival that continues to serve as a symbol of unity, pride, and cultural continuity for the people of Ota.
The 2025 edition of the Iganmode Festival was widely acclaimed as a success, leaving guests and participants with lasting impressions of a colourful, well-coordinated celebration that honoured tradition while fostering communal harmony.
*12 Days of Christmas with 5 for 5 Rewards: Celebrating the Season the Wema Way*
December is a season built on gratitude, reflection, and giving. It is a time when small gestures carry deeper meaning and everyday moments turn into shared joy. At Wema Bank, this spirit of the season has inspired the launch of 12 Days of Christmas with 5 for 5 Rewards, a festive campaign created to celebrate customers who continue to make the Bank part of their daily lives.
Running from December 14 to December 25, 2025, the campaign is designed to reward simple, everyday banking while spreading cheer across homes and communities. For twelve days, 33 customers will be rewarded daily with five thousand naira each when they fund their accounts with five thousand naira.
The idea behind the campaign is simple in action but thoughtful in intent. It recognises that during the festive period, every extra support counts. Whether it is preparing for family gatherings, running errands, or planning end-of-year activities, Wema Bank is turning routine transactions into moments of delight.
To take part in the 12 Days of Christmas with 5 for 5 Rewards, customers only need to fund their accounts with five thousand naira through any of the following channels:
ALAT app
*945#
Debit cards
Once the account is funded with five thousand naira, they get an additional five thousand naira as a reward.
Beyond the rewards, the 12 Days of Christmas with 5 for 5 Rewards reflects Wema Bank’s broader commitment to customer-centric banking. It reinforces the Bank’s focus on creating experiences that go beyond transactions, especially during moments that matter most to customers.
As the year draws to a close, Wema Bank is inviting customers to enjoy the festive season knowing that their loyalty is valued and celebrated. With every transaction, the Bank continues to find new ways to connect, appreciate, and give back during a season defined by generosity.
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