Banker Waives N15m Loan After Businesswoman Settled Him In 'Kind'

At Ikeja High Court yesterday, proceedings took an unusual dimension yesterday when an excerpt of a video tape between a married father of three and his former lover was played in the courtroom.

The father of three, Peter Omokaro, according to the News Agency of Nigeria (NAN), is a former banker, while his former lover, Titilayo Nosa-Igiebor, is a businesswoman. Omokaro, who is in his early 60s, had sued Nosa-Igiebor (33), for not repaying an alleged N15 million loan he gave her during their relationship.


The tape was played when Mr. Victor Okpara, counsel to Nosa-Igiebor, led her in evidence. The video which played for more than an hour showed Omokaro and Nosa-Igiebor lying in bed in a hotel room, agreeing to the terms of the loan before engaging in s#xual intercourse.


Omokaro could be heard in the video, before signing the agreement, saying: “I hope I am not signing my death warrant.” He was also heard telling Nosa-Igiebor that he had no intention of getting the loan back.


The defendant’s counsel tendered a copy of the loan agreement in evidence. The counsel told the court that ‘Clause Five’ of the agreement exempted Nosa-Igiebor from repaying the loan because of their s#xual relationship.


Clause Five of the agreement, which pertains to waiver of rights, states: “Peter forever waives all rights to loan payback, forfeiting totally loan given if Titilayo agrees to and has s#xual intercourse with Peter.” Earlier in her evidence, the defendant told the court that Omokaro never gave her the N15 million although he promised to give her without collecting it back. 

The businesswoman testified that Omokaro became vindictive after their relationship turned sour. She told the court that the former banker intended to punish her for the soured relationship by taking her to court.


While being cross-examined by Mr. Jerry Omoregbe, counsel to Omokaro, the defendant testified that besides being Omokaro’s lover, she had a business relationship with him through her company, Tilimanjaro Nig. Ltd. and Nichole Integrated Ltd. (Omokaro’s companies). She said: “Tilimanjaro was my first company. I had no prior experience; I was still setting up at the time.


I went to meet Peter, my boyfriend at the time, to assist me in giving my brother, Ahmed, money for aviation school. “Peter, my boyfriend, said that he would give me the money as a gift and that we should draft an agreement so that my brother could see that it was serious and take his schooling serious.“He invited me to the hotel as shown in the video. He agreed that I should make the agreement, and I drafted the agreement in my letterhead. The agreement was between Peter Imafidon Omokaro and Titilayo Nosa- Igiebor. “The friendly loan was never given to me.


That agreement was signed on May 15, 2011, which was a Tuesday. He said he would pay the money into my brother’s account on Thursday but he never did.” Justice Raliatu Adebiyi adjourned the case till February 20, 2019, for adoption of written addresses. Omokaro had accused Nosa-Igiebor of stealing his Toyota Venza 2010 model with registration number CT370FKJ valued at N2 million as well as N106 million. Nosa-Igiebor was initially arraigned before an Igbosere Magistrate’s Court in Lagos in April 2012 and remanded at the Kirikiri Prisons following her failure to meet her bail conditions.


The former lovers later agreed to settle their dispute out of court, with Nosa-Igiebor returning the car and other property given to her by Omokaro during their relationship. However, Omokaro instituted a civil suit against Nosa-Igiebor before an Ikeja High Court following her failure to refund the alleged N15 million loan. He had submitted that he gave the defendant the loan as a business partner and not a lover.

The former banker also told the court that the loan was not a gift but meant to be paid back.
New telegraph

*OMG she taped the encounter between them without his approval....Its wrong!!!