UWAIFO, J.C.A. (Delivering the Leading Judgment): The interpretation of the words 'alienate' and 'mortgage' as used in section 22 of the Land Use Act, 1978 for the requirement of the Governor's consent to a transaction thereunder is decisive of this appeal. The facts of the case simply stated are that the plaintiff/respondent gave overdraft facilities to a company called Kosmos Construction Company of Nigeria Limited (the company). The defendant/appellant is a director of the company. He guaranteed the overdraft facilities and in support of that he deposited with the plaintiff/respondent the title deeds of his property at Orishigun Street (Off Ikorodu Road) Mile 11, Ketu, Lagos State as security.
The said company defaulted in repaying the amount of overdraft facilities.
As at 21 February, 1987, the indebtedness (principal and interest) stood at ₦714,598.20. The plaintiff brought action against the company. The indebtedness was not contested. Judgment was given in favour of the plaintiff…