Bunza and NDIC Clash Over Banana Island Property Ownership Dispute
The clash between Sen. Bunza and NDIC revolves around a property in Banana Island previously owned by Heritage Bank. Bunza paid N2.5 billion of the N4.7 billion agreed price, with NDIC claiming a balance of N2.1 billion.
The dispute arose after Heritage Bank defaulted on loan repayments, leading to the property being put up for sale. Coron Merchant Bank facilitated the payment on Bunza's behalf.
NDIC is withholding title documents until the full payment is made.
Plus234Feed summary based on reporting from Daily Trust. Read the original report below.
Read full article
Continue on Daily Trust
Share
Get the week in one email
Top stories, NPFL results, the naira — every Friday morning. Free, one email a week.
Free · one email per week · unsubscribe anytime
Related Stories
Business
NDIC Revokes ₦4.76b Banana Island Property Sale Over Unfair Terms
Business
BONI-Investrust Dispute Raises Investor Protection Concerns in Zambia
Politics
NDIC Empowered to Prosecute Parties Responsible for Bank Failures, Says MD
Business
NDIC Announces N2m Payout for Aso Savings, Union Homes Depositors
Politics
Samuel Adedoyin Challenges NDIC's Report on City Express Bank, Alleges Bias and Defamation
Business
CBN Revokes Aso Savings and Union Homes Licences, NDIC Begins Verification and Depositor Payments
Get Plus234Feed on messaging apps
Same headlines, delivered where you already scroll.
