N26bn Debt: Court Grants Access Bank’s Request to Take over Sunny Odogwu Properties - Newstrends
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N26bn Debt: Court Grants Access Bank’s Request to Take over Sunny Odogwu Properties

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A Federal High Court in Lagos yesterday upheld the N26 billion debt claimed by Access Bank Plc against the estate of the late Ide Ahaba of Asaba, Chief Sunny Odogwu.

Justice Daniel Osiagor in his judgement upheld the Access bank’s claim, and dismissed the preliminary objection filed by the estate of the late Chief Sunny Odogwu challenging the claim of the bank.

The court held that a consent judgement had earlier been entered in which parties to the debt agreed on the payment of N12 billion as full and final payment.

The defendants in the preliminary objection had argued that having taken advantage of the consent judgement, the plaintiff can’t turn around and ask the court to set aside same.

However, Access Bank in its claim before the court argued that the judgement was floored in that it was delivered by a court that lacked jurisdiction to entertain it as at the time it was entered as consent judgement.

The bank through its counsel, Kemi Balogun, SAN, submitted that the matter having been placed at the bosom of the Court of Appeal, the lower court which entered the consent judgement  was at the time it gave the judgement Functus Officio (lacked jurisdiction), and that the only court that has the power to adjudicate on such matter at that level is the appellate court.

Justice Osiagor while dismissing the objection of the defendants nullified the consent judgement entered by Justice Rilwan Aikawa, which sanctioned the consent judgement on the ground that it lacked jurisdiction to grant such order as it is functus officio as at the time he granted the order.

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The judge then affirmed the earlier judgement of justice  Saliu Saidu, which ordered the defendants to pay its outstanding indebtedness  of N26 billion.

Justice Osiagor however ruled that the payment must be less all amount earlier paid to the judgement creditor

The court also awarded a cost of N200,000 against the defendants.

It would be recalled that Access Bank Plc and the late Ide Ahaba of Asaba, Chief Sonny Odogwu, entered into a N26 billion loan agreement when he was alive.

The late businessman wanted to use the facility to build luxury apartments to be known as Le Meridien Grand Towers in highbrow Ikoyi, Lagos.

In line with global best practices, the bank demanded collateral security.

Thus Odogwu mortgaged prime properties in Lagos, Abuja, Dubai, and Los Angeles among others to Access Bank in return for the facility.

After the death of the businessman, the mortgaged properties eventually became a subject of litigation

Trouble started when the estate of the late Chief Odogwu, reacted angrily to a move by Access Bank to take over the uncompleted property.

The bank had in its originating summons urged the court to enter judgment in the sum jointly or severely against the first to third defendants, being the outstanding sum as at September 30, 2014, advanced by the bank for the defendants.

The bank also asked the court for an order granting leave to it to foreclose and sell the said property situated at 31-35 Ikoyi Crescent, Ikoyi, Lagos State and an order directing judicial sale and granting leave to sell the said property, being the security for the sum of N26, 229, 934, 035.22

The bank also urged the court to direct Leadway Trustees Limited to surrender all title documents in its custody in relation to the said property.

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SERAP Urges Tinubu to Repeal ‘Unlawful’ Mass Surveillance Regulations

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President Bola Ahmed-Tinubu with SERAP

SERAP Urges Tinubu to Repeal ‘Unlawful’ Mass Surveillance Regulations

The Socio-Economic Rights and Accountability Project (SERAP) has formally called on President Bola Tinubu to withdraw the Lawful Interception of Communications Regulations, 2019, describing them as unconstitutional, unlawful, and inconsistent with Nigeria’s international human rights obligations. The demand follows allegations that the phone of National Security Adviser (NSA) Nuhu Ribadu was intercepted, raising national concerns about phone tapping, mass surveillance, and privacy rights in Nigeria.

In a letter dated 21 February 2026 and signed by SERAP Deputy Director Kolawole Oluwadare, the civil rights organisation urged Tinubu to direct Bosun Tijani, Minister of Communications, Innovation and Digital Economy, to repeal the regulations immediately. SERAP also called for a transparent legislative process to develop lawful interception laws that comply with constitutional safeguards, judicial oversight, and international human rights standards.

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The organisation criticised the regulations for granting broad and vague powers to intercept communications on grounds such as “national security,” “economic wellbeing,” or “public emergency” without sufficient judicial safeguards, transparency, or independent oversight. SERAP warned that these powers risk being weaponised against journalists, civil society, political opponents, and election observers, especially as Nigeria approaches the 2027 general elections.

According to SERAP, the current framework allows interception without a warrant in situations involving consent, threats to life, or the ordinary course of business. It also expands the category of “authorised agencies” arbitrarily and fails to provide adequate safeguards for the protection of private communications, encryption, and data storage. The organisation emphasised that such practices violate Section 37 of the Nigerian Constitution and international human rights obligations.

SERAP highlighted that secret surveillance and bulk data collection create significant risks of misuse, profiling, and political manipulation. The organisation noted that mass surveillance measures must comply with legality, necessity, proportionality, and prior judicial authorisation, with clear oversight mechanisms and remedies for affected individuals.

The civil society group warned that if the government fails to act within seven days of the letter’s publication, it would pursue legal action to compel compliance, reiterating that privacy and freedom of expression are essential for free and fair elections and democratic governance.

The call by SERAP adds to growing public debates about data privacy, lawful interception, and accountability in Nigeria. Observers argue that without reform, the regulations could undermine journalistic independence, political participation, and citizens’ trust in digital communication.

SERAP Urges Tinubu to Repeal ‘Unlawful’ Mass Surveillance Regulations

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₦13.7bn Payroll Fraud Claim Pits Audit Firm Against Osun Government

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Osun State Governor, Ademola Adeleke

₦13.7bn Payroll Fraud Claim Pits Audit Firm Against Osun Government

An audit firm, Salivot Consulting Limited, has alleged a massive ₦13.7 billion annual payroll fraud involving thousands of ghost workers and pensioners in Osun State, triggering widespread public outrage and calls for transparency.

The allegation was disclosed by the firm’s Chief Executive Officer, Sadat Bakrin-Ottun, during an appearance on Politics Tonight on Channels Television. According to her, a 12-month forensic audit allegedly revealed that Osun State is losing about ₦13.7bn yearly to non-existent employees, unverifiable pensioners, and manipulated payroll records under the administration of Ademola Adeleke.

The audit reportedly identified 8,452 workers and 5,831 pensioners who allegedly failed to appear for physical and biometric verification. Bakrin-Ottun claimed the exercise exposed systemic payroll abuse across ministries, departments, and agencies, warning that the irregularities could not be dismissed as clerical errors. Among the most controversial findings, she alleged that one bank account linked to a single Bank Verification Number (BVN) received 962 salaries monthly, while another account was credited with 5,615 monthly salaries, pointing to deliberate payroll manipulation. She insisted the audit relied on biometric data, BVN analytics, and bank reconciliation records to validate these claims.

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The Osun State Government has strongly rejected the ₦13.7bn payroll fraud allegation, accusing Salivot Consulting Limited of professional misconduct, data exaggeration, and misrepresentation. State officials claimed that only 1,316 workers remain unverified, adding that several individuals flagged by the firm are legitimate employees, whom the government declined to remove from the payroll “in good conscience.” Officials also insisted that payroll reforms have reduced the state’s monthly wage bill by about ₦1 billion, dismissing the fraud claim as misleading and politically motivated.

Bakrin-Ottun, however, dismissed the government’s rebuttal, maintaining that the audit was thorough, transparent, and evidence-driven. She alleged that while Governor Adeleke initially supported the exercise, implementation stalled after the audit report was submitted in July 2024. She claimed relations broke down after she demanded accountability for the allegedly siphoned funds, leading to tensions with senior officials, including the Chief of Staff.

The firm’s legal counsel, J.T.O. Uwazuruike, said the dispute has now escalated beyond unpaid consultancy fees. Salivot Consulting plans to petition the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to investigate those allegedly responsible for diverting billions of naira from the state treasury. While the government has yet to specifically address claims of multiple salary payments into single accounts, labour unions, civil society groups, and residents continue to demand a forensic, independent probe to verify the state payroll system.

₦13.7bn Payroll Fraud Claim Pits Audit Firm Against Osun Government

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Peller Escapes Generator Fire at Lagos Home, Recalls Earlier Lekki–Epe Scare

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Nigerian TikTok sensation and streamer, Habeeb Hamzat, popularly known as Peller

Peller Escapes Generator Fire at Lagos Home, Recalls Earlier Lekki–Epe Scare

Nigerian TikTok sensation and streamer, Habeeb Hamzat, popularly known as Peller, has narrowly escaped injury following a generator fire incident at his residence.

The social media influencer disclosed the incident on Saturday via his verified Instagram page, where he shared a video capturing the early-morning blaze. In the footage, flames could be seen engulfing his generator as Peller, visibly shaken, cried out for help while neighbors and occupants rushed to contain the fire.

After sustained efforts using buckets of water, the fire was eventually brought under control. The generator was completely destroyed, but the building itself and everyone inside the house were spared, preventing what could have escalated into a major tragedy.

Shortly after the incident, fans and followers flooded his comment section with messages of relief and gratitude, praising the swift response that prevented loss of life or further property damage. The video also circulated widely across other social media platforms, where viewers raised concerns about generator safety, ventilation, and fire preparedness in residential areas.

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As of the time of filing this report, the exact cause of the fire had not been independently confirmed, though preliminary reactions online speculated about possible fuel-related or electrical issues.

Earlier Lekki–Epe Expressway Incident

The generator fire comes months after Peller survived a separate and highly publicized scare along the Lekki–Epe Expressway.

During that earlier episode, which unfolded during a widely shared livestream, the influencer was seen driving while emotionally distressed. The broadcast, titled “RIP Peller,” sparked widespread concern after he made a series of alarming remarks that unsettled viewers.

At the time, Peller appeared agitated during a phone conversation believed to involve his girlfriend, amid online speculation about personal relationship challenges. The livestream ended abruptly after the vehicle was involved in a crash, though Peller later confirmed he survived the incident.

The back-to-back scares have renewed conversations among fans and industry observers about mental health awareness, content moderation during livestreams, and personal safety, particularly for young influencers who share real-time experiences with large audiences.

Despite the incidents, Peller has continued to engage his followers and has expressed appreciation for the overwhelming support he has received.

Peller Escapes Generator Fire at Lagos Home, Recalls Earlier Lekki–Epe Scare

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