Union Homes Troubles Stella Oduah Over N386m

By Modupe Gbadeyanka

Former Minister of Aviation, Ms Stella Oduah, has been dragged before a Federal high Court by Union Homes Savings and Loans Plc.

The firm, through its counsel, Mr Ken Ahia, claimed Ms Oduah, Sea Petroleum Oil and Gas Company and five directors of the company namely, Okoh Davis Ifeanyi, Enechukwu Humphrey, Aaekenwa Theophilous Aguguom, Mrs Nwakaego Ageyingbo and Emmanuel Nnamdi Nwobu owe about N385.8 million.

The former Minister is presently at the National Assembly representing the people of Anambra North Senatorial District.

In an affidavit sworn to by the Business Manager of Union Homes Savings and Loans Plc, Mr Olayinka Odunoiki and filed before the court by Ken Ahia, the deponent averred that between December 2009 and November 2010, Oduah and the aforementioned persons applied for and were granted various sums of mortgage loans and some of the properties used as guarantee to secure the loan E29 and 31E Fat Oboh street Millennium Homes Oniru Private Estate, Lagos as well as F3B, F4A F4B,F5A,F5B SPG Road Millennium Estate, Oniru, Lekki Lagos State, has now been taken over by AMCON through a court order.

Mr Odunoiki averred further that despite restructuring the loan facilities and interest waiver, the borrowers had failed and refused to take advantage of the concession granted as they were still indebted to Union Homes till date.

Therefore Union homes loans and saving Plc is entitled to the protection of its proprietary interest in the said properties.

Consequently, Union Homes is urging the court to intervene and joins it for the purpose of being heard on their prayers regarding the aforementioned properties, as they stand the risk of losing their beneficial proprietary interest in its asset comprised in the said properties.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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