GT BANK BATTLES LATE ARISEKOLA'S FAMILY

  Alhaji Arisekola Alao,the billionaire business mogul who died in June this year in London is allegedly indebted to Guaranty Trust Bank PLC to the tune of about 7 billion naira. The bank is leaving no stone unturned in its efforts to recover the huge debts.Part of his catalogue of assets include Tank Farms at 21 Michael Ibru Boulevards, Apapa was used by the late billionaire and philanthropist as collateral in obtaining loans from GT Bank.The bank had now placed a Caveat Emptor on the property. This was done by the top lawyer, Olisa Agbakogba on behalf of  GT Bank,as shown in an Advertorial published on Wednesday, October 8,2014.
  There is now a pending Order of Court directing parties to maintain the status quo and not to sell the Tank Farm until the determination of the proceedings at the Federal High Court.