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Ochacho Gifts Peller N400m Abuja Property, But Ownership Remains Unclear

Peller faces questions over the ownership of a N400 million Abuja property after billionaire real estate mogul King Ochacho presented him with a Power of Attorney.
Ochacho Gifts Peller N400m Abuja Property, But Ownership Remains Unclear Ochacho Gifts Peller N400m Abuja Property, But Ownership Remains Unclear
Credit: Questions Trail Peller’s N400m Abuja Property Gift From Ochacho Credit: peller089

Billionaire real estate mogul King Ochacho, also known as Mohamed Adah, founder of Ochacho Real Homes, has publicly presented Peller with the official allocation letter, cash receipt and property documents he promised him and Jarvis at their traditional wedding event.

The luxury five-bedroom detached duplex and penthouse sits in the highbrow Life Camp neighbourhood of Abuja.

However, the documents presented to Peller have raised questions about the ownership of the property. Rather than transferring ownership of the building to Peller as promised, the documents reportedly grant him a Power of Attorney.

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Does Peller Actually Own the Abuja Property?

Under Nigerian law, a Power of Attorney gives Peller the authority to act on behalf of Ochacho in matters concerning the property. However, the document does not make Peller the legal owner of the building.

READ ALSO: King Ochacho Plans Luxury UK Stream in 6 Rolls-Royces With Peller

With the Power of Attorney, Peller can act on behalf of King Ochacho in relation to the property, but he cannot claim ownership of the building simply because he holds the document. The Power of Attorney also does not transfer ownership of the land to him.

Ochacho can also revoke the Power of Attorney, depending on the terms of the document and the applicable law, without necessarily requiring Peller’s approval.

Ochacho Gifts Peller N400m Abuja Property, But Ownership Remains Unclear
Credit: Questions Trail Peller’s N400m Abuja Property Gift From Ochacho Credit: peller089

The development has therefore generated questions over whether King Ochacho actually transferred ownership of the N400 million property to Peller and Jarvis or simply granted Peller authority to act on his behalf.

Reactions trail Ochacho’s gift to Peller and Jarvis

Some members of the public have also questioned the circumstances surrounding the presentation of the property documents. Some believe the entire arrangement could form part of a promotional campaign rather than an outright property gift.

Others have suggested that the appearance could serve as a paid promotion for Ochacho’s real estate business, while some believe it could also help promote his son’s music and generate publicity around the estate and other properties in the area.

Ochacho Gifts Peller N400m Abuja Property, But Ownership Remains Unclear
Ochacho Gifts Peller N400m Abuja Property, But Ownership Remains Unclear

The controversy has left members of the public seeking clarification on whether Peller received full ownership of the property or only a Power of Attorney to act on behalf of King Ochacho.

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