NLC HOUSING CRISIS: COURT TO TAKE CUSTODY OF SUBSCRIBERS’ FUNDS

An FCT High Court has ordered commercial banks, which has custody of funds belonging to the subscribers of the Nigerian Labour Congress (NLC) Mass Housing Scheme to deposit the money in the custody of the bank.

At a resumed hearing of the suits filed by both the subscribers and the developers Kriston Lally, the court agreed that the funds should be in the custody of the court pending the determination of the suit to prevent any action that may be detrimental to the course of justice.

This was in agreement with the application by the subscribers seeking an order of the court to take custody of the funds pending the determination of the suit.

Reacting to the ruling, subscribers of the failed mass housing scheme, expressed hope that the case would lead to a refund of their deposits in the shortest possible time .

On its part, the Nigerian Labour Congress (NLC) promised to do its best to ensure that the subscribers are protected.