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Firm denies fraudulent mortgage deal allegation


The CMB Building Maintenance and Investment Company Limited has disproved the allegations of fraudulently mortgaging homes belonging to Pearl Nuga Park Estate and Pearl Garden Estate situated at Sangotedo Village in Eti-Osa Local Government Area of Lagos. CMB in a statement issued through its counsel, Ifoma Ogoh stated that the said allegations published in Newspapers were false, malicious, and misleading, saying it was pure campaign of calumny.

The homeowners of Pearl Nuga Park Estate and Pearl Garden Estate had dragged CMB Building Maintenance and Investment Company Limited to the Economic and Financial Crimes Commission (EFCC), alleging fraudulent mortgage of some of their homes to secure bank loans.

Ogoh said: “We are solicitors to CMB Building Maintenance & Investment Co. Ltd. (our client) on whose behalf we write in respect of the twin malicious advertorials placed in theGuardian Newspaper on the June 3, 2019 by a group of persons falsely presenting as the management of Pearl Gardens and Pearl Nuga Park Estates respectively.

“Both Estates were developed and are managed by our client. The advertorials were written by faceless groups stated to be ’The Management and Trustees of the Pearl Gardens Estate Homeowners Community Association’’ and “Pearl Nuga Park Estate Homeowners and Residents Association.

“Unsubstantiated and reckless statements were made in these advertorials and demonstrate what is patently a campaign of calumny by a minority who are resistant to the structured and well ordered running of the estate.

“Their mission is to oust our client from continuing to serve as facility managers of the estates in question; a role that our client has played competently and effectively from inception.” He claimed that they also push their agenda by latching on to anything that will drive their faulty narrative, adding that the group of individuals behind the publication is already embroiled in scandal involving embezzlement and misappropriation of funds.

“Allegations by this faceless group are false and unsubstantiated. It is instructive that they had approached the courts of law thrice and each time, the cases were struck out.

“The false allegations in the advertorials appear to be an attempt to malign our client in the court of public opinion having constituted themselves prosecutor and judge, in the absence of a case in the court of law,” the firm claimed. According to them, the allegedly false and misleading nature of the advertorials is an evidence of another issue – the abuse of court processes as well as the sham and completely malicious execution of a non-existent order.

Ogoh further stated that there is no possession order whatsoever on any of our client’s properties; not on Pearl Nuga Park or any other estates built by our client anywhere in Nigeria. “Differences arise from time to time in the course of business and our client’s customer-client relationship with a bank has no legal or lawful bearing on any properties,” he stated.


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