Court Upholds Termination of N130m Property Contract by Estate Developer

The High Court of the Federal Capital Territory sitting in Apo has ordered a property developing company – Abeh Signature Limited, to take possession of its property located in Maitama following its suit against Ms Asabe Waziri, over an alleged breach of contract in the sales agreement.

In a judgement delivered by Justice Othman Musa, the court countered the claim of Waziri, a staff of Nigerian National Petroleum Corporation Limited, over the purchase of N130 million property in the Maitama district of Abuja.

In a suit marked, FCT/HC/CV/2435/2021, the court, contrary to the allegation by Waziri that the Managing Director, Abeh Signature Limited, Mr Cecil Osakwe, was holding unto her money, ruled that having regard to Sections 1, 14 and 15 of the Money Laundering (Prohibition) Act and other relevant laws, the various payments made in cash and sundry bank transfers by the defendant in favour of the claimant in respect of the contract for the purchase of two flats at Abeh Court wa illegal and contrary to the aforementioned provisions of the money laundering laws.

The court further held that “in view of the way and manner or mods of payments employed by the defendant for the purchase of the two flats at Abeh Court belonging to the claimant, same has rendered the contract for the purchase of the properties void for violating money laundering laws.

Justice Othman in his judgement added that the claimant was right in terminating the contract it had with the defendant and offering a refund of the money paid so far for being void due to the contravention of the Money Laundering Prohibition Act.

“In view of the termination of the contract for the purchase of the two flats at Abeh Court by the claimant, the defendant can no longer claim or exercise ownership over the said two flats. Consequently, this court orders the claimant to immediately refund the entire monies paid to it by the defendant, including the legal and agency fees.”

The court further ordered the defendant to immediately hand over possession of the two flats – flats 3C and 38 of Abeh Court to the claimant.

Mr Osakwe through his lawyer, Mr Victor Giwa, stated that a cheque of N150 million was immediately issued in the name of Waziri.

Waziri said she had entered into a contract to purchase two flats at Abeh Signature Apartments in Maitama but failed to meet the contractual agreements. Consequently, Abeh Signature Limited dragged her to court, alleging a breach of the contract agreement.

Waziri also accused Osakwe of electricity theft but he provided documents proving otherwise and described the allegation as a smear campaign aimed at intimidating him.

This was as documents from Abuja Electricity Distribution Company showed that electricity bills were paid monthly by the owners of Abeh Signature Apartments.