Rent default: Landlord orders bank to vacate property

Posted by News Express | 25 December 2020 | 1,643 times

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•Adeola Odeku Street, Victoria Island, Lagos

 

By ROTIMI AGBANA, Lagos

The owner of the former Multilinks headquarter building on Adeola Odeku Street, Victoria Island, Suleiman Lawani has asked a new generation bank (name withheld), to vacate his property over nonpayment of three-year rents totaling N21 million and a breach of trust.

Lawani noted that the rent which was supposed to be N12 million per annum was reduced to N7 million after a court intervention and negotiations with the defunct Multilinks telco, which is now under Prof. Gbolahan Elias as Receiver/Manager appointed by the bank.

He explained that since the agreement to pay N7million was reached, even though it fell short of the actual amount, Multilinks and another new generation Bank had been paying until 2018 when the new bank which took over stopped payment of the rent without any genuine reason.

Lawani added that all entreaties made by him and his lawyer to the said bank to pay the accumulated rents and respect the agreement reached yielded no result, describing it as an absurdity.

Lamenting his frustration during a press conference, Lawani explained: “In 2014, I took Multilinks to court for default for the sum of N68million. During the trial, the judge suggested I should not burn my money and time over a dead horse.”

“Rather, he advised I should allow the multi links mast to stay. I requested for 12 million per annum, but the company said the amount is beyond them. Eventually, the trial judge brokered a discounted rent of 7m per annum. In 2016, another new generation bank took over multilink for default to the tune of 64 million dollars and appointed Professor Gbolahan Elias as Receiver/Manager.”

“The rent of 7m per annum was taken over by the new generation bank through their Receiver/Manager. I made it known to the Receiver/Manager that I have made a loss of N5million.”

“In 2018, the new bank refused rental payments. When I requested for payments they told their Receiver/Manager that there is no money and when they have, they will effect payments. Then, I requested for return of the space, they refused. This is the third year running of their absurdity.’’(Daily Independent)


Source: News Express

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