Has Lekki Gardens boss Richard Nyong gone into oblivion?

By Oladapo Sofowora

Talking about one of the few men who took the Real Estate sector by storm with a singular idea of redefining the sector, Richard Nyong, CEO, Lekki Gardens, readily comes to mind.

He pursued his vision with an uncommon gusto to the surprise of even some established players in the much-saturated industry. His arrival on the scene was grand as it created a lot of controversies.

With an enchanting voice and oratory skills, Nyong was able to convince customers and investors with beautiful promises. No doubt, he started on a good note, as his firm smiled to the bank after successfully delivering over 2,000 housing units comprising thousands of semi-detached houses and flats in more than nine residential estates within the Lagos metropolis.

The once sweet tale became sour after Nyong and his contractor were arrested in connection with the death of some workers at one of his construction sites that collapsed in Lekki on March 10, 2016, Lagos State.

Though Nyong regained freedom, the incident submerged him and forced him to recoil into his cocoon. Aside from the huge sums lost over the incident, the relator has continued to work towards regaining the company’s lost credibility, trust and reputation, which he built over the years.

When many thought his travails were over, 20 unit owners in the Horizon Premier-1 Estate in Lekki, Lagos dragged the Akwa-Ibom State-born businessman before a Lagos High Court over alleged distortion of the estate layout to build shops in the space originally meant for children playground, green area and recreation facilities. The claimants demanded an immediate reversion to the original layout in the 33-unit estate, while some subscribers also demanded compensation.

To avoid the stigma the incident brought to the Lekki Gardens brand and to shield the company from liabilities over several litigations, smart Nyong immediately set up new property development companies namely Meridian Park Estate Limited, Horizon Estate Limited, and Foreshore Waters Limited, to advance his business dealings.

Sources further revealed that five years after the collapse of the building in 2016, Nyong has refused to get over the ugly scenario, the loss and the litany of legal suits that came with it. What has become Nyong’s major headache remains his reputation soiled by the incidence. The once-popular socialite who is always on a spending spree has reduced his social gathering appearances.