There was commotion at the Mount Pleasant Housing Estate, CITEC in the Mbora District of Abuja as officials from the Abuja High Court launched an early morning raid to recover the N401m debt against the estate’s development company.
There had been a dispute between CITEC and the Federal Housing Authority (FHA) over the former’s non implementation of a tripartite agreement with the FHA, and the then Ministry of the Federal Capital Territory, under which the company was to build 5,000 housing units at the Mbora District of Abuja.
Under the agreement, the FHA paid the sum of N300 million to CITEC, who then failed to deliver on its obligation. The FHA in 2010 filed a suit against CITEC at the Abuja High Court, urging the court to compel the company to refund the money.
In its decision on January 31, 2013, a three member Panel headed by former Attorney-General of the Federation, Chief Bayo Ojo (SAN), directed CITEC to refund the sum of just over N401m to the FHA being the total outstanding sum plus accrued interest.
FHA filed an exparte motion at the Abuja High Court, following which a judge last month granted it leave to enforce the final arbitral award delivered by the Panel.
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