Connect with us

society

Appeal Court nullifies sale of Intercontinental Hotel, orders return to Milan Group

Published

on

Appeal Court nullifies sale of Intercontinental Hotel, orders return to Milan Group

Appeal Court nullifies sale of Intercontinental Hotel, orders return to Milan Group

 

 

The Court of Appeal Lagos Division has nullified the sale of Intercontinental Hotels, Lagos by Polaris Bank and Asset Management Corporation of Nigeria, and ordered a return of the facility to the original owner, the Milan Industries Ltd.
In a unanimous judgment in suit No CA/LAG/CV/476/2021 delivered by three Justices of the Appeal Court: Jimi Olukayode Bada, who read the lead judgment; Muhammad Ibrahim Sirajo and Peter Oyinkenimiemi Affen, the appellate court ruled that Milan Industries Ltd had fully paid the bank the Two Billion Naira (N2Billion) mortgage facility it secured from Polaris Bank before the hotel was taken over and sold by AMCON and the bank.

 

 

Appeal Court nullifies sale of Intercontinental Hotel, orders return to Milan Group

 

 

 

The bank, which was then known as Skye Bank had put the management of the five-star hotel under the receivership of Mr. Kunle Ogunba, an arrangement that was nullified by a Federal High Court in Lagos. Despite this, the bank went ahead and sold the hotel to another company, 11 PLC, a move that was challenged at the Appeal Court by the lawyers to Milan Industries Ltd, Messrs Ahmed Raji SAN and Tunde Kasunmu of Prof A.B Kasunmu SAN chambers.
It will be recalled that Milan Industries Ltd had taken a facility from Skye Bank to part finance the five-star hotel located in Victoria Island, Lagos and managed by IHG. The Milan Group, has up till 2021 to pay back the facility but in a curious move, the bank obtained an interim order to take over the management of the hotel, an order that was vacated when the suit was struck out by the court on March 20th 2018.
According to the Certified True Copy of the judgment signed and released on Wednesday by the Senior Registrar of the court, A. G. Balogun, the appellate court held that the two issues Milan Industries as Appellant/Cross Respondent was contesting were resolved in its favour. According to the lead judgment by Justice Jimi Bada, “With the resolution of Issues No. 1 and 2 in favour of the Cross Respondent and against the Cross Appellants (Polaris Bank, AMCON and 11 PLC), it is my view that this cross appeal lacks merit and it is hereby dismissed.”
While agreeing with the lead judgment, another member of the appeal court panel, Justice Ibrahim Sirajo stated that “the appellant insisted that it had paid over Two Billion Naira in liquidating the facility and that as at the time the 1st respondent (Polaris Bank) entered into agreement to sell the appellant’s secured asset to the 2nd respondent (AMCON), there was no collaterized and secured asset to sell to the 2nd respondent. It was also the case of the appellant that at the time the 2nd respondent sold the appellant’s Intercontinental Hotel to the 3rd respondent, the appellant had discharged its obligation under the legal mortgage by paying the amount secured by the property.”
To buttress his position, Justice Sirajo ruled that “I adopt his lordship’s reasoning and conclusion in the leading judgment as mine in also allowing the appeal. I abide by all the orders made in the leading judgment including that of the costs.”
While also concurring with the lead judgment by Justice Bada, the third member of the appeal panel, Justice Peter Affen said “the judicial reasoning and conclusions reached on the issues raised accord with mine, and I hereby affirm my agreement with the leading judgment which allowed the main appeal and dismissed the cross appeal. I equally abide by the orders on the costs.”

society

ONDO EAST-WEST FEDERAL CONSTITUENCY APC ADOPTS OTUNBA BOLA FISAYO

Published

on

ONDO EAST-WEST FEDERAL CONSTITUENCY APC ADOPTS OTUNBA BOLA FISAYO

 

Ahead of APC House of Representatives Election scheduled for Saturday 16th of May 2026, Ondo EAST-WEST Federal Constituency stakeholders have adopted Otunba Bola Olawafisayo as its flagbearer.

 

Rising from the stakeholders’ meeting held at Harmony Estate in Ondo city, a source close to Otunba Bola Olawafisayo disclosed that arrangements have been perfect and party members will formally adopt Otunba Bola Olawafisayo on Saturday the very day slated very for the primary.

Continue Reading

society

Excitement as Zamfara Under Governor Lawal Begins Airlift of Pilgrims at Zamfara Airport

Published

on

Excitement as Zamfara Under Governor Lawal Begins Airlift of Pilgrims at Zamfara Airport

 

There is palpable excitement in Zamfara State as the administration of Governor Dauda Lawal officially commenced the 2026 Hajj airlift for pilgrims from the Gusau Airport (GIA). In a historic move aimed at easing the pilgrimage process, the state government announced that the first batch of pilgrims who departed for the Holy Land today, Friday, 15th May 2026.

This milestone marks the fulfillment of Governor Lawal’s promise to make direct departures from Zamfara a reality, eliminating the need for pilgrims to travel to other states for airlift. However, the state government has issued a strict advisory to the public regarding conduct at the airport. To ensure security and facilitate the smooth coordination of the airlift operations, escorting pilgrims to the airport is strictly prohibited.

Family members and friends wishing to bid farewell to their loved ones are directed to do so only at the Hajj Camp. The restriction, according to officials, is a necessary measure to prevent congestion and maintain order at the airport premises. Officials confirm that the airlift is now underway at Gusau International Airport. The development has been met with widespread praise from intending pilgrims, who expressed relief at being able to begin their spiritual journey directly from their home state.

The Zamfara State Government extended its sincere gratitude to Governor Lawal for his commitment, emphasizing that the direct airlift reflects a new chapter of convenience and efficiency for the state’s annual Hajj operations.

 

Continue Reading

society

Dr. Chris Okafor Declares Grace Nation Is In The Season Of Signs And Wonders

Published

on

Dr. Chris Okafor Declares Grace Nation Is In The Season Of Signs And Wonders

…Reaffirm that when disobedience occurs, God’s Kingdom withdraws; serving with sincerity and fervor leads to triumph

~By Sunday Adeyemi

 

The metamorphosis of Grace Nation into a terrestrial paradise is palpable, with multifaceted miracles manifesting daily, as it has evolved from a church into a comprehensive movement where the all-powerful hand of God operates in diverse dimensions

The 14th of May 2026 midweek Prophetic Healing Deliverance and Solutions service was a testament to the power of faith, witnessing remarkable displays of miraculous healings, deliverances, and solutions. God’s omnipresent hand was visibly manifest, touching lives and restoring health, notably in the case of a man afflicted with body pains for 26 years, who, after being prayed for by the Generational Prophet, experienced instantaneous relief.

During the midweek service, a notable miracle took place when an 11-year-old boy who was born mute spoke for the first time. Furthermore, a woman carrying twins for an extraordinary period of 2 years was suddenly delivered; labor ensued immediately after she received prayer, necessitating her hospitalization. In a stunning display of divine intervention, growth ceased, and a woman testified to the efficacy of the Generational Prophet’s prayers, which had been offered on her behalf a few weeks earlier. Specifically, her business-related struggles seemed insurmountable until her tricycle, which had lain dormant for weeks, suddenly sprang to life without any mechanical intervention.

Marital obstacles hindering the two brides-to-be were removed, as many expectant mothers were blessed with miracle babies. It is evident that Grace Nation is undergoing its phases of astounding Signs and Wonders.

Generational Prophet Dr. Chris Okafor, in his teachings on ‘Dealing With My Daddy’s Devil,’ points out that the sins of fathers can weigh heavily on their children, and unless one actively works to break this cycle, generational battles will inevitably continue from one generation to the next

*How to Deal with Your Daddy’s Devil*

To successfully address the issue of generational curses or strongholds in your family, it is necessary to understand the underlying spiritual principles and technical aspects. Knowing the source and method of entry of the devil into your bloodline, as well as the reasons behind its establishment in your father’s house, is vital. By understanding these key concepts, you will be able to make positive changes and effectively deal with these generational battles

*Breaking Free from Generational Conflict.*

In order to overcome the devilish influences of your father, serving your Lord and Savior in truth and spirit is essential; this empowers and elevates you above all earthly struggles

A strong prayer life is crucial for spiritual well-being; the devil commonly uses the depletion of one’s prayer life as a tactic to dominate the lives of God’s spiritually vulnerable children

Hence, the sole legitimate approach to terminating the devil’s influence within one’s family lineage involves authentic devotion to God, necessitating a superior force to dislodge an entrenched inferior spirit, with Generational Prophet of God Dr. Chris Okafor underscoring adherence to covenant principles as pivotal in transcending intergenerational curses

The midweek Prophetic Healing Deliverance and Solutions (PHDS) took place at the International Headquarters of Grace Nation Worldwide, situated in Ojodu Berger, Lagos, Nigeria.

 

Continue Reading

Cover Of The Week

Trending