Reports have it that the First Bank of Nigeria Plc is currently embroiled in a fraudulent land grab scandal involving Whiteplains British School, Jabi Abuja.
The management of the school has alleged that First Bank is bent on illegally taking over the school property even though there is still a court case over the dispute between both parties.
According to the school director, “Whiteplains British School took an initial loan of N450,000,000 (four hundred and fifty million naira only) from GTBank. Subsequently, we needed another loan of N200, 000, 000 (two hundred million naira), which GTBank appeared hesitant in giving us. We were however approached by First Bank Nigeria Plc that they were ready and willing to help us with the loan. First Bank paid off the initial loan of N450, 000, 000 and went further to credit our account with the sum of N200, 000, 000”
The Director of the school further alleged that First Bank Plc forged a tripartite mortgage document showing the signature of one Dr. L.C. Ibe, a former permanent secretary of the Federal Ministry of Water Resources, as surety in 2014. The document further claims that Dr. L.C. Ibe signed as surety in the event that the school was unable to settle its loan commitment to the bank, it was free to obtain the property.
The Director however pointed out that the document cannot be genuine because it is clearly on record that Dr. L.C. Ibe, the so-called surety as claimed by First Bank, died in 2013, and was buried on a Friday, March 15th, 2013. He wondered how it was possible for a dead man to sign a document a year after he had been buried; a question which First Bank has refused to supply answers to.
The Director further revealed that Dr. L.C. Ibe, the man whose signature was allegedly forged by First Bank plc, is the seller of the property to the management of Whiteplains British School, and therefore cannot stand as a surety for property which he has already sold.
In order to stay within the limits of the law, the management of Whiteplains British School took the issue before Justice B.F.M. Nyako of the Federal High Court Abuja who passed judgment on the 19th of December 2016, restating the following;
“Consequently I hereby order as per the reliefs sought with modifications.
Relief 1, Mr. Bola Olotu is the duly appointed receiver appointed by the 1stapplicant and can perform all the duties stated therein without being visible in the administration of the school so as not to traumatize the students.
Flowing from the above,
Relief 2 is granted with the modification that Mr. Bola Olotu takes over, finance activity of the school.
Relief 3 is granted with very minimal presence of uniformed policemen at the school premises.
Relief 4 is granted with the emphasis that the sharing formula should be used so that the school remains open and operational with teachers and staff salaries paid.
Relief 5 is not granted. Only monies relating to the facility should be lodged with the 1st applicant account.
In addition, the 1st applicant should enable the 1st respondent access to the properties used as collateral for the Guaranty Bank loan so that they can sell off the same to enable them to repay the loan with them”
The school alleged that First Bank did not follow this ruling and instead officials of the Bank came with armed policemen on the 8th of July 2018 and erected an illegal fence across the main entrance of the school. All efforts by Whiteplains British School to appeal to the good conscience of First Bank have repeatedly failed; leaving the school with no choice than to approach the court of public opinion in hopes that First Bank authorities will be forced to soft-pedal.
The School management made a statement to the management of First Bank Plc.
“The board, management, and staff of Whiteplains British School, hereby call on First Bank to stop the total disregard of court judgments and also calls on relevant authorities to help temper justice with facts, as we continue to pledge our undying commitment to contributing to the development of Nigeria’s educational sector. It is common knowledge that Whiteplains British School is recipient of several awards including a Special Consultative Status with the United Nations, Platinum Award for Education Development in FCT 2013, Best Secondary School 2012 by the Institute of Government Research & Development, 2010 and 2011 Teen ICT Favorite School Award, Africa Entrepreneurs Merit Award, Nigeria Entrepreneurs Award, and several others. With its background in educational forte, we remain committed to our calling and will not trade evil for evil”.
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