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Tag: Developer

  • Police arraign developer over alleged N1.33b fraud

    Police arraign developer over alleged N1.33b fraud

    • Beachway Homes boss Adeyinka pleads not guilty

    The police have arraigned a real estate developer, Adeyinka Lawal, at the Federal High Court in Lagos over an alleged N1.33 billion fraud.

    The Force Criminal Investigation Department (Force CID), Annex, Alagbon–Ikoyi, charged Lawal, the Chief Executive Officer of Beachway Homes Limited, alongside his company, before Justice Deinde Dipeolu. The charge is numbered FHC/L/392c/2025.

    The prosecution alleged conspiracy, obtaining money by false pretence, money laundering, fraudulent conversion and fraud.

    Prosecuting counsel, Samuel Ogala, told the court that the 60-year-old defendant, his company and others now at large allegedly committed the offences between 2020 and 2023 at Elegushi, Lekki, Lagos State.

    According to the prosecution, Lawal, with the intent to defraud, obtained the sum of N1.33 billion from one Mr. Ifeanyi Nweke under the false pretence that the money would be used to build a 52-unit estate at Ilesan–Elegushi, Lekki.

    Ogala told the court that the representation was false and that the defendant knew it to be so.

    Read Also: Police urge NLC to shelve Tuesday’s planned protest

    He further alleged that upon receiving the money, Lawal fraudulently converted the funds to his personal use.

    The prosecutor said the alleged offences contravened Sections 8 and 1(1)(3) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006, and were punishable under Section 390(9) of the Criminal Code Act, Laws of the Federation of Nigeria (LFN) 2004.

    He also told the court that the defendant’s actions contravened Section 7(2)(b) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006, as well as Section 20(b) of the Money Laundering (Prevention and Prohibition) Act, 2022.

    The defendant pleaded not guilty to all the charges.

    The prosecutor informed the court that the defendant had yet to fulfil the bail conditions earlier granted by the court.

    He urged the court to remand the defendant in the custody of the Nigerian Correctional Service (NCoS) pending compliance with the bail terms.

    Defence counsel told the court that he had been indisposed since his client was arraigned and released to him in July 2025, explaining that this accounted for the delay in perfecting the bail.

    Justice Dipeolu ordered that the defendant be remanded at the Nigerian Correctional Service facility pending the fulfilment of the bail conditions.

    The case was adjourned to March 18 for trial.

    The charges against the defendants read in part:

    “That you, Adeyinka Lawal ‘M’, Beachway Homes Ltd. and others now at large, between the years 2020 and 2023 at the Elegushi–Lekki area of Lagos State, within the jurisdiction of this Honourable Court, did conspire amongst yourselves to commit felony, to wit: obtaining money by false pretence, and thereby committed an offence contrary to and punishable under Section 8 of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006.

    “That you, ADEYINKA LAWAL ‘M’, BEACHWAY HOMES LTD. and others now at large, between the years 2020 and 2023 at the Elegushi–Lekki area of Lagos State, did with intent to defraud fraudulently obtain the sum of N1.33 billion from Mr. Ifeanyi Nweke under the pretence of using same to build a 52-unit estate at Ilesan–Elegushi, Lekki, a representation you knew to be false.

    “That you fraudulently converted the sum of N1.33 billion belonging to Mr. Ifeanyi Nweke to your own use.

    “That you laundered, transferred and retained the said sum of N1.33 billion, thereby committing offences contrary to and punishable under the relevant provisions of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006, and the Money Laundering (Prevention and Prohibition) Act, 2022.”

  • Residents blame FCTA, developer for flooding, losses, others

    Some property owners in Efab Estate, Lokogoma District of Abuja, have blamed the officials of the Federal Capital Territory Administration (FCTA) for allegedly conniving with the developer of the estate to fraudulently sell houses to them.

    The estate recently came to limelight after a series of flooding led to the destruction of houses and valuables, including the death of a teenager.

    The devastation was so bad that some affected property owners resorted to squatting with relatives, others vacated the estate and insisted on compensation from the FCTA and the developer.

    The Nation learnt that the FCTA has asked residents of Lokogoma District whose buildings are along waterways to vacate the areas, saying the buildings were the cause of perennial flooding in the area.

    The administration said most of the buildings were built without approval and that the owners were allocated where to build on by the FCTA, but that they left the original allocations and built on waterways.

    In a twist, some of those affected by the flooding and those that may eventually lose their property to demolition by the development control department of the Federal Capital Development Authority (FCDA), criticised the FCT authorities for doing nothing when the houses were being built by the developer.

    The victims said they were not comfortable with the plan by the FCTA to demolish the structures before compensating them.

    The Nation reports that in the Efab Estate, most of the houses near the major waterway get flooded whenever it rains. At least three major floods occurred between June 6, 26 and July 25, 2019, which led to  the destruction of property worth millions of naira and the death of a 17-year-old boy.

    The Nation observed a narrow stream within the estate that is not properly channeled and usually fills up whenever it rains thereby flooding houses along the waterway and environs.

    One of the affected residents, who did not want his name in print said he  moved into his apartment in the estate in 2010, but that in August, 2011, the first major flood occurred in the area.

    He said: “It flooded my house and fell the fence and did a lot of damage. Thank God, a friend who lived in my boys’ quarters travelled just a day earlier because the major debris fell directly on his bed in the early hours of the morning.”

    Since then, he said, the estate always witnessed flooding two to three times yearly. He recalled how the Residents Association entered into what he called a gentleman’s agreement with the promoter of  the estate, Chief Fabian Nwora, with part of the agreement stating  that they would  either relocate or compensate the residents even if it is partial,  after  advising him on the need  to  build a canal to check flooding in the expanse estate. He regretted that it wasn’t done, but what the promoters of the estate did was to only temporarily excavate  sand out of the stream for about two years. He maintained that the developer did not execute the agreement it reached with the residents’ association.

    He revealed that after the June 26 incident, the residents’ association met with the developer and the FCTA with   the FCTA saying the owners did not have approval for the buildings.

  • Developer extols Ibeju-Lekki axis as ‘great investment hub’

    VIrgin-Landmarts Limited General Manager Miss Nkem Okoye has described the ongoing government and private projects in the Ibeju-Lekki axis as major investment opportunities for land developers to tap into.

    She stated that projects, such as the Dangote Refinery, Dangote Seaport, Dangote Fertiliser, Lekki Deep Seaport, New International Airport, Free Trade zone and others in the axis, will create employment opportunities in the state.

    Okoye, who spoke in Lagos, stated that this is the best time to invest in the axis, adding that business moguls on the Forbes lists, such as Dangote, and Dantata have invested heavily in the area.

    “You don’t need to have all the millions or billions of naira in the world to get a land in this area. With Virgin-Landmarts Limited, you can buy your own land in the area while making an instal payment,” she said.

    According to her, in six to 12 months, a plot of land in the area will appreciate and generate over 175 per cents return on investments.

    She explained that the advantage of the axis is that over 250 people, including expatriates, would be employed in this area of the massive ongoing projects.

    “Think big, start small, start now,” she added.

     

  • Developer extols Ibeju-Lekki axis as ‘great investment hub’

    Virgin-Landmarts Limited General Manager Miss Nkem Okoye has described the ongoing government and private projects in the Ibeju-Lekki axis as major investment opportunities for land developers to tap into.

    She stated that projects, such as the Dangote Refinery, Dangote Seaport, Dangote Fertiliser, Lekki Deep Seaport, New International Airport, Free Trade zone and others in the axis, will create employment opportunities in the state.

    Okoye, who spoke in Lagos, stated that this is the best time to invest in the axis, adding that business moguls on the Forbes lists, such as Dangote, and Dantata have invested heavily in the area.

    “You don’t need to have all the millions or billions of naira in the world to get a land in this area. With Virgin-Landmarts Limited, you can buy your own land in the area while making an instal payment,” she said.

    According to her, in six to 12 months, a plot of land in the area will appreciate and generate over 175 per cents return on investments.

    She explained that the advantage of the axis is that over 250 people, including expatriates, would be employed in this area of the massive ongoing projects.

    “Think big, start small, start now,” she added.

  • Family, developer quarrel over land

    Who owns a large parcel of land at Sangotedo in Lekki-Ajah, Lagos State, which is a subject of dispute between a family and a developer?

    The Oyemade Royal family of Sangotedo is laying claim to the land, which it accused the developer, Kelechukwu Mbagwu, of grabbing from it.

    But Mbagwu denied the allegation.

    Addressing reporters yesterday during the family’s protest in Oyetubo Jokotade Estate in Sangotedo, its lawyer, Tunde Popoola, asked that Mbagwu be brought to justice.

    The protesters carried placards with inscriptions, such as: “How can an individual take laws into his hands?”; “Justice must be done”; “Kelechukwu Mbagwu is lawless”; “Kelechukwu Mbagwu is a land grabber”.

    They were accompanied by the family head (Olori Ebi), Mr. Tajudeen Ajenifuja; the heads of the three houses in the royal family, Alhaja Simirat Adenike Hassan (for Oyetubo House); Mr. Biliaminu Yekeen (Banjoko House) and Alhaja Ganiat Balogun (Okunade House).

    Others are: the Baale, Alhaji Jamiu King, of Oyemade family.

    According to Popoola, from August 19; 20, Mbagwu allegedly moved into the said land with his boys, gun wielding men of the Special Anti-Robbery Squad (SARS) and bulldozers and levelled buildings that were under construction.

    “After that act, he stationed armed Mobile policemen on the property who started shooting indiscriminately at the approach of any person and prevented the family members and owners of the buildings who came the following day to assess the damage done”.

    Popoola said it took a petition from the family to the Area “J” Command of the police in Ajah to get the Mobile policemen off from the property.

    “Kelechukwu invaded the parcel of land with a bulldozer and demolished all the existing structures. There was no order of court authorising him to demolish the property in the midnight. He took laws into his hands without any appropriate court order; the level of lawlessness is alarming and unprecedented.

    “The Oyemade family demands justice, Kelechukwu must be brought to book and we will not rest until Kelechukwu is brought to book,” he said.

    Popoola said the family gave Mbagwu, CMB Building Maintenance and Investment Company Ltd. Managing Director, some hectares of land in March 2003 on which he built the Pearl Garden Estate.

    “But he has since gone beyond that parcel of land to be taking possesion of the family land illegally and selling without reference to the owners”, he said.

    Ajenifuja, the Olori-ebi General, said land grabbers were not doing the public any good because “they deny owners the right to their property and subject them to penury”.

    He said: “All we want in this matter is justice, we want the government to assist us to get justice”.

    A property owner, Chima Duru, said he had spent over N5million on his property before it was demolished. His wife, he said, collapsed and was admitted in hospital when she heard about the demolition.

    Speaking on Mbagwu’s behalf, his lawyer, Alexander Okpako said: “At no time did CMB demolish anything on the said land.”

    CMB , he said, had the tittle to the land.

    “The family has been trying to rescue the land from CMB and they have been on it for some years now and in doing that they employ some tricks, they send some landgrabbers to demolish properties, they then run to police to say CMB has demolished their property. They have been harassing CMB with police on the land,” he said.

    Okpako said there were about three to four cases on the matter in court, adding, CMB has handed over the matter to the court, both parties have joined issues in court.

    “But because of desperation to possess the land, they commit atrocities and go to the police to say it is CMB,” he claimed.

  • Developer dangles affordability, flexible payment carrot

    Lagosians desirous of owning affordable housing in a high brow area can now heave a sigh of relief. Dayola Property & Development Company,  a Lagos-based real estate firm, has unveiled two of its prime properties – Beaufort Park and Heirs Park Residences.

    The properties are behind Novare Lekki Mall, Ajah. The Beaufort Park is a 24-unit premium affordable  homes built for investors and those who desire to enjoy living in this fast-developing area of Lagos.

    They come in three-bedroom apartments with boys quarters that will be finished to taste by the buyers.

    The firm’s Managing Director and Chief Executive Officer, Mr. Dayo Olaiya, said the estate is covered by global Certificate of Occupancy (C of O). He noted that the projects go through certified building consultants from commencement to completion. This, he said, puts the properties in a pole position as meeting and surpassing the required standard.

    Other features in the planned estates include intercom and fire alarms, lawn tennis court, swimming pool, two car park slots per housing unit, water treatment plant, electricity, children’s play ground area, tarred road network and drainage system.

    Olaiya said the price of a unit is N19.99 million, which would revert to N23.99 million once the promo is over. Payment plan is an initial deposit of 12.5 per cent or N2.5 million, while the balance payment is spread across 24 months.

    He called on investors to take advantage of the introductory price, which lasts till September.

    “Real estate is an imperishable asset, increasing in value. If not bought for residential purpose, then buying for commercial purpose is a great long-term investment with medium risks and reasonable increase in value. We can bring your real estate investment dreams to fruition. Our projects are developed to suit and meet the needs of discerning investors”, Olaiya said, adding that Heirs Park Residences Phases 1 & 11 located before the sixth Lekki Roundabout, presents a beautiful place for living.

    Heirs Park Residences Phases 1 & 11, Olaiya explained, comprise  four-bedroom maisonettes en suite, with exquisite finishing in a very serene and secured neighbourhood. Each maisonette boasts of three en suite bedroom on the first floor, one-bedroom en suite on the ground floor and a spacious living room and kitchen area with boys quarters.

    Olaiya said the special offer price per unit in this estate is N55 million, with an initial down payment of 20 per cent or N11 million while the balance is spread across 24 months at zero per cent interest rate.

  • Breaking: Developer bags 2,670 years for duping 133 tenants of N25m

    An Ebute-Meta Chief Magistrates’ Court, Lagos, has sentenced a property developer, Alhaji Ayobami Oseni, to 2,670 years imprisonment for duping 133 accommodation seekers of N25 million.

    Chief Magistrate O. O. Olatunji convicted Oseni following his plea of guilty to 267 counts of conspiracy, obtaining under false pretenses and stealing.

    He sentenced Oseni to 10 years imprisonment with no option of fine on each of the 267 counts.

    Read Also: Court dissolves 10-year-old marriage over man’s joblessness

    The sentences, which are to run concurrently, take effect from April 26, 2017 when Oseni was remanded in prison custody following the revocation of his bail.

    Thus, the convict should spend only 10 years in jail, but if the one year he has spent in remand is deducted, his prison time reduces to nine years.

    Oseni was prosecuted by the Force Criminal Investigation and Intelligence Department (FCIID) and the Lagos State Real Estate Transaction Department (LASRETRAD).

     

    Details later…

  • Another developer fleeces victims of N50m

    Another developer fleeces victims of N50m

    Less than a month after a developer at Iponri allegedly defrauded some house seekers, another one, Mali Najeemdeen has been accused of a similar offence.

    Najeemdeen was alleged to have fleeced about 74 victims of N50million under the guise of providing them accommodation at Ijeshatedo in Surulere.

    The victims were said to have individually paid money to the suspect as rent for a-two-storey building situated at 1, Bankole Street, off Adigun Street, Ijeshatedo, which was “under renovation.”

    Trouble started September 28, when some of the victims billed to take possession couldn’t enter the apartments they paid for because multiple persons have been promised particular flats.

    According to Samuel Chonkea, he saw the developer as a religious person and never knew he could defraud others.

    He said: “I did not know the developer would defraud us, because I saw him as a religious person. I paid him the money after inspecting the building and noticed that what is left was minor. I was asked to come back September 28 for the collection of my keys. But I could not make it on that day.

    “However, a friend of mine who lives on the street called that somebody was moving in and when I rushed down there, I was surprised that somebody has moved into my apartment. I was about leaving when the person who packed in came out.

    “When I told him that I am the owner of the apartment, we engaged each other in a fight and I ran to Itire police station to report the incident. It was after I fought with the other tenant that I got to know that many people had been duped by the developer.

    “I want the commissioner of police to intervene in our matter, because the developer said nobody can prosecute him.”

    Another victim, Isiaka Oluwatoyin said he paid N300,000 for a mini flat in June.

    He said: “A friend introduced the developer to me. After paying him, he said I can move in by July ending. When my wife and I went, he told us to come back by September 28 that renovation was still ongoing.

    “It was someone who called me that there was a crowd in the front of the building, protesting that they had been duped by the developer. When I got to there, I saw people protesting and I also went straight to Itire police station not knowing that other people had been coming to make statements in respect of the developer.”

    Uche Solomon, another victim, said he paid N450,000 for a two-bedroom flat on September 14.

    He said: “It was my colleagues in the office that introduced me to the developer. After inspecting the house and the apartment I wanted to move into, I transferred the money to him that same day and I was asked to pack into my apartment on September 29. To my surprise, I received a phone call that some people were protesting a day before.”

  • Another developer fleeces victims of N50m

    Another developer fleeces victims of N50m

    Less than a month after a developer at Iponri allegedly defrauded some house seekers of their money, another one, Mali Najeemdeen has been accused of a similar offence.

    Najeemdeen was alleged to have fleeced about 74 victims of N50million under the guise of providing them accommodation at Ijeshatedo in Surulere.

    The victims were said to have individually paid money to the suspect as rent a-two-storey building situated at 1, Bankole Street, off Adigun Street, Ijeshatedo, which was “under renovation.”

    Trouble started September 28, when some of the victims billed to take possession couldn’t enter the apartments they paid for because multiple persons have been promised particular flats.
    According to Samuel Chonkea he saw the developer as a religious person and never knew he could defraud others.

    He said: “I did not know the developer would defraud us, because I saw him as a religious person. I paid him the money after inspecting the building and noticed that what is left was minor. I was asked to come back September 28 for the collection of my keys. But I could not make it there that fateful day.

    “However, a friend of mine who lives on the street called that somebody was moving in and when I rushed down there, I was surprised that somebody has moved into my apartment. I was about leaving when the person who packed in came out.

    “When I told him that I am the owner of the apartment, we engaged each other in a fight and I ran to Itire police station to report the incident. It was after I fought with the other tenant that I got to know that many people had been duped by the developer.

    “I want the Lagos state commissioner of police to intervene in our matter, because the developer said nobody can prosecute him.”

    Another victim, Isiaka Oluwatoyin said he paid N300, 000 for a mini flat in June, adding that he was also notified by a friend of the chaos in the property.

    He said: “A friend of mine introduced the developer to me. After I had paid him he said I can move in by July ending. When my wife and I went, he told us to come back by September 28 that renovation was still ongoing.

    “It was someone who called me that there was a crowd at the front of the building protesting that they had been duped by the developer. When I got to the scene, I saw people protesting and I also went straight to Itire police station not knowing that other people had been coming to make statements in respect of the developer.”

    Uche Solomon, another victim, said he paid N450, 000 for a two-bedroom flat on September 14.

    He said: “It was my colleagues in the office that introduced me to the developer. After inspecting the house and the apartment I wanted to move into, I transferred the money to him that same day and I was asked to pack into my apartment on September 29. To my surprise, I received a phone call that some people were protesting a day before.”

  • Developer slashes land price by 50 per cent

    Got Formation Limited, a property development company, has slashed land prices at Oloja Estate by half.

    This, the firm said, is to help people realise the dream of home ownership.

    Its Chief Executive Officer, Prince Ayobami Talabi, said a plot of land, which before now cost N700,000 is now N350,000.

    He said the move became necessary because of the recession and the aspiration of many Nigerians to own houses.

    Talabi urged Lagosians to always look for locations where human population is increasing and where government’s interest abounds.

    He adding that his estate possessed such potential.

    Located in Ikorodu, Oloja Estate is a prime location with other emerging development, such as the proposed Mile 12 Market, Fourth Mainland Bridge, Lagos State housing estates and other private schemes. These have made the location in Agbowa the next real estate investment destination.

    GlossyDee Event Services Project Manager Deborah Aderemi,  said the price of a plot of land in the estate has been slashed to N350,000 for first 300 plots from N700,000.

    She hinted that there were 306 plots in the first phase of the estate, while phase two has 294 plots of 60 by 120 square metres.

    According to her, the estate is open to other developers, investors and cooperatives interested in buying and having their own estates, adding that the land comes with registered survey plan in place of excision.