BULET INTERNATIONAL NIGERIA LIMITED & MUSA GARBA IZAM V. DR. MRS. OMONIKE OLANIYI & C.B. VENTURES LIMITED

KUDIRAT MOTONMORI OLATOKUNBO KEKERE-EKUN, J.S.C. (Delivering the Leading Judgment): The 1st respondent in this appeal, DR, MRS. OMONIKE OLANIYI, was a customer of the 2nd respondent, C.B. VENTURES Ltd. She had a deposit of N15 million with them. The property in dispute located at Plot 2370 Cadastral Zone A6 Maitama District of the Federal Capital Territory (FCT) Abuja, covered by Certificate of Occupancy No. FCT/ABU/PL.344 was allocated to the 2nd appellant, MUSA GARBA IZAM. He developed it by constructing an 8-bedroom duplex thereon. He put in the 1st respondent, BULET INTERNATIONAL NIG. Ltd. as his tenant. Somewhere along the line, Musa Izam became indebted to C.B. Ventures Ltd. He agreed to sell the property to C.B. Ventures to offset his liability to them. C.B Ventures, in turn, later became indebted to Dr. Olaniyi. In part payment of its indebtedness, it assigned the property to her. A Deed of Assignment (Exhibit P10) was executed between Dr. Olaniyi and C.B. Ventures Ltd. The de…