Land

It is also the law that it is the holder of a statutory right of occupancy that has the duty to apply for the Governor's (or Ministers) consent in respect of the land he wishes to transfer, assign, mortgage, etc. See: Mbanefo V. Agbu (2014) 6 NWLR (Pt.1403) 238; Owoniboys Technical Services Ltd. V. Union Bank of Nig. Ltd. (supra).

Sections 22 (1) and 26 of the Land Use Act provide:
"22. (1) It shall not be lawful for the holder of a statutory right of occupancy granted by the Governor to alienate his right of occupancy or any part thereof by assignment, mortgage, transfer of possession, sublease or otherwise howsoever without the consent of the Governor first had and obtained.
26. Any transaction or any instrument which purports to confer on or vest in any person any interest or right over land other than in accordance with the provisions of this Act shall be null and void."
From the above provisions, no alienation of the interest of the holder of a statutory right of occupancy in respect of a piece or parcel of land will be valid unless the consent of the Governor (or in the case of the FCT, the Honourable Minister) has been sought and obtained. See: Ugochukwu Vs Cooperative and Commerce Bank Ltd. (1996) 6 NWLR (Pt.456) 524; Owoniboys Technical Services Ltd. vs Union Bank of Nig. Plc. (2003) 15 NWLR (Pt.844) 545.

In contract of sale of land, the law is well settled that failure to pay the purchase price constitutes fundamental breach which obviously goes to the root of the case upon which the Court can not decree specific performance. See Nidocco Limited vs Mrs. I.A. Gbojabia Muth (2013) 7 LPELR-2 or (2013) 6/7 SC (Pt. 10) 92. Nlewedim vs Uduma(1993) 6 NWLR (Pt. 102) 383.