Unpaid Loans: Court Orders UBA to Take Over Godwin Ogiemwonyi’s Properties

A Federal High Court in Lagos has granted an order directing United Bank for Africa (UBA) Plc to take over two properties located in Benin City, Edo State, belonging to Godwin Ogiemwonyi (trading under the names of Ogiemwonyi Godwin Nigeria Enterprises & Festus Martins Nigeria Enterprises) over unpaid debts amounting to N786,957,024.03.

The court made the order, while delivering ruling in a suit marked: Suit No. FHC/L/CS/58/23 initiated by the bank and Receiver against Godwin Ogiemwonyi.

The plaintiff, UBA, had approached the court through its lawyer, Temilolu Adamolekun, over the failure of the defendant to pay its debts despite numerous pleas, hence it decided to resort to recover the said amount through the courts.

The properties, which have since been taken over by the bank, are a palatial residential building and a warehouse, all located in Benin, Edo State.

Commenting on the judgement, the Bank’s lawyer, Temilolu Ademolokun reiterated the commitment of the Bank to collect every single kobo owed by debtors to UBA. “If you owe UBA, you must pay,we  advised all customers that are indebted to the bank to pay their debts as  the bank will explore every available legal means to protect her depositors’ fund. he said.