POWER OF ATTORNEY

Given Under the hand of

DR. ADEPOJU ISMAIL ADEOLA

Adeseun Village, Via Atan Otta Ogun State
(Donor)

TO
SPECTRUM MICROFINANCE BANK LIMITED
Of No. 23, Ogunnusi Road, Avis B/Stop, Beside Boat House, Ogba, Lagos
(Donee)

OVER
IN RESPECT OF ALL THAT HALF (1/2) PLOT OF LAND WITH
THREE BEDROOM FLAT MEASURING APPROXIMATELY HALF
PLOT LYING AND BEING AT ADESEUN VILLAGE, VIA ATAN
OTTA, OGUN STATE.

Prepared by:

Yakubu Eleto Esq

Yakubu Eleto Chamber
78, Muhammed Muritala Road,
Beside ICAN Office,
Oyingbo B/Stop
Ebutemeta Lagos State.
IRREVOCABLE POWER OF ATTORNEY
THIS POWER OF ATTORNEY is made this …… day of June, 2023
by DR ADEPOJU ISMAIL ADEOLA of Adeseun Village , Via Atan Ogun
State hereinafter called “ The Donor” ( which expression shall where the
contexts so admits includes his agents, successors in title, assigns, heirs,
administrators and or personal representatives) on the one side.

NOW THIS POWER OF ATTORNEY WITHNESSES THAT

1,DR ADEPOJU ISMAIL ADEOLA of Adeseun Village, Via Atan Ogun
State do hereby appoint you SPECTRUM MICROFINANCE BANK
LIMITED of No. 23, Ogunnusi Road Avis B/Stop Beside Boat House Ogba
Lagos State as my “Lawful Attorney/Donee” in my name and on my behalf
to do and execute all or any of the following acts.

1. To take possession of the above mentioned property which we are the

beneficial owner
2. To exersice power of sale only upon recall from the possession of the
Donor if the Donor defaults in the repayment of the principal loan and
accrued interest on or before the expiration date. PROVIDED that the Donee
shall release to the Donor all original documents in respect to the said
property where the Donor discharge the loan and accrued interest on or
before expiration date.
3. To do all such other things incidental to or connected with the main object
for which this POWER is granted as effectual as the Donor would have
done.
4. Generally, to take possession of the said property and TO HOLD the same
absolutely free from encumbrances effectually in all respect.
5. To delegate the power which I have hereby given so that the legal
principles of “Delegatus non potest Delegare” does not apply in this Power
of Attorney.
6. That I am precluded from instituting any action against the “BANK”
upon enforcing the content of this Deed
7. I HEREBY DECLARE that all and every receipts, deed, matters, acts or
things whatsoever which shall be by my said Attorney given, made,
executed or done for the aforesaid purpose shall be as good, valid and
effectual to all intents and purpose whatsoever, as if the same had been
signed sealed, delivered given or made or done by us.
8. I HEREBY undertake at all times to ratify and confirm whatsoever my
Attorney shall do or cause to be done concerning the said property by virtue
of this Power of Attorney.
AND FOR THE CONSIDERATION of the loan facility in the sum of
Seven Million Naira ( N 7,000,000) excluding interest now paid by the
Attorney/ Donee receipt of which we do hereby acknowledge, I HEREBY
DECLARE AND CONFIRM that this POWER OF ATTORNEY is and
shall remain IRREVOCABLE.

I the Donor also undertake to indemnify the Donee for any loss incurred as a
result of any act of any third party laying claim to this property after this
power of attorney is executed and to refund the bank’s money comprising of
both principal and interest if such third party claim arises.

IN WITNESS hereby the above named DONOR has hereunto affixed their
hand and seal the day and year above written.

SIGNED, SEALED AND DELIVERED BY THE WITHIN

DONOR

….……………………………………….

DR ADEPOJU ISMAIL ADEOLA

(DONOR)

In the presence of:

NAME: …………………………………………………..

OCCUPATION: …………………………………………

ADDRESS: ………………………………………………..

DATE: …………………………………………………….

BEFORE ME

…….………….….………………………………………………….
COMMISSIONER FOR OATH/NOTARY PUBLIC

THE FEDERAL REPUBLIC OF NIGERIA

COMPANIES AND ALLIED MATTERS ACT 1990
PRIVATE COMPANY LIMITED BY SHARES

SPECIAL RESOLUTION (FAFAMA GLOBAL VENTURES (BN 2832002)

 PURSUANT TO SECTION 102 OF THE COMPANIES AND ALLIED MATTERS ACT 1990.
At the meeting of the Board of Directors of (FAFAMA GLOBAL VENTURES) duly convened and held at
Block 7,Shop 104/105 lagoon plaza Lagos island Lagos State Nigeria on the (17th May, 2023), it was
unanimously RESOLVED that:

1. That the company hereby approves the Account Opening with Spectrum Microfinance bank
Ltd, and processes a Loan Facility in the sum Of N8,000,000(Eight Million Naira) From
Spectrum Microfinance bank Limited.

2. The Company hereby guarantees that he is the exclusive owner of its assets (both Fixed and
Floating), which are free from any lien, security interest, claim, option, pledge assignment,
and other encumbrance of any kind. The Company further undertakes not to establish any
lien, security interest, claim, option or pledge assignment on its assets for the full duration of
the loan facility have used the same as collateral for the loan facility.

3. That /Mrs OSHIDERO TAIWO MUYINAT is being the director should present the ’ bank
cheque: 0082381206, 0082381207, 0082381208, 0082381209, 0082381210, 0082381211
issued in favour of Spectrum Microfinance Bank to the tune of N 8,000,000 plus accrued
interest and should be used as collateral to secure the loan facility advanced to OSHINDERO
TAIWO MUYINAT

4. That Spectrum Microfinance Bank Ltd has the capacity to attach my own personal asset(s)/
Properties with or without any court order, which I further pledge as a director to secure the
loan facility and also to take any further actions against me as a director in my own personal
capacity upon any default on the part of the company.

5. That the above-aforementioned clauses remain valid until the said facility is fully liquidated
with interest.

…………………..

DIRECTOR