Ndidi Okereke, others illegally acquire NSE property


Akin Kuponiyi
Ndidi Okereke
The suit instituted by The Nigeria Stock Exchange (NSE) against its former Director General Nididi Okereke Onyiuke and others to recover a building alleged to have been acquired illegally has been adjourned till 1st of March, 2016 for either report of settlement or hearing.
Others joined as co-defendants in the ensuing property recovery suit are former assistant director general of the NSE, Lance Musa Elakama, Hybrid Properties Limited, Oak Business and Finance Limited, Minister of Land, Housing and Urban Development, Federal Land Registry.
In a statement of claim filed before a federal high court in Lagos, South west Nigeria, by a Lagos-based lawyer, Chief Bolaji Ayorinde SAN, on behalf Nigerian Stock Exchange NSE, it was alleged that sometime in 2012, the NSE carried out an audit of its landed properties and discovered that it could not locate the original copy of certificate of occupancy of one of his landed property.
It was alleged that Dr Ndidi Okere-onyiuke acting in concert with Lance Musa Elekama, upon a false resolution of the Nigeria Stock Exchange, unlawfully and illegally executed a Deed of Assignment dated 20 May 2007, on Sunday which is non working day by law in favour of Hybrid Properties Limited and Oak Businesses and Finance Company Ltd. by which Nigeria Stock Exchange purportedly transferred its proprietary of the property at 2 Temple Road, Ikoyi to the two companies.
Consequently enquiry was set in motion, upon conducting a search on the 12th of March, 2014 and obtained from the federal Lands Registry, it was discovered that on the 20th of May, 2007 that then Minister of Land, Housing and Urban Development gave his consent to the deed of assignment purportedly executed by NSE in favour of HY Bybrid Properties Ltd and Oak Business and Finance company.
Dr Ndidi Okereke Onyuike and Lance Musa …Read More

Source:: PM Newspaper