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The High Court of the Federal Capital Territory in Jabi, Abuja, on Thursday, ordered the sale of an Abuja hotel owned by Obat Oil and Petroleum Limited to offset N5 billion debt it owes Ecobank Plc.
The judge, Hassan Babangida, gave the order in a suit filed by Ecobank.
The hotel in question, Febson Hotels & Malls, is located at Plot 2425, Herbert Macaulay Way, Abuja.
Obat Oil, the firm which owns the property, was founded by an oil mogul and popular monarch, the Olugbo of Ugbo Kingdom in Ilaje Local Government Area of Ondo State, Fedrick Akinruntan, who was in 2014 ranked by Forbes magazine as the second richest king in Africa and the richest in Nigeria.
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Mitsubishi UFJ Lease & Finance establishes Australian joint venture with global financial services organisation Macquarie Group
Macquarie Group notes Mitsubishi UFJ Lease & Finance Company Limited’s (“the Company’s”) announcment it has signed an agreement to establish Vestone Capital, a joint venture engaged in leasing of information technology and energy assets, with leading global financial services organisation Macquarie Group (“Macquarie”) in Australia.
The joint venture is scheduled to be established in Australia in February 2021 after obtaining relevant regulatory approvals. It combines the asset finance expertise and knowledge of assets which the Company has gained on a global scale with Macquarie’s platform, networks and deep local knowledge to create an agile leasing business covering information technology and energy assets available to small, medium and large scale leasing clients. The newly branded Vestone Capital entity brings together the stre