Tag: Lekki Gardens

  • Lekki Gardens retains rating

    Lekki Gardens retains rating

    The Global Credit Rating (GCR) has affirmed Lekki Gardens national scale long-term and short-term issuer ratings of BBB+ and A2, respectively, with a Stable Outlook.

    According to GCR, “the rating affirmation reflects Lekki Gardens’ modest leverage metrics and well-managed liquidity, which have supported the ongoing operations and sustained its competitive position within the Nigerian property development sector.”

    Managing Director, Lekki Gardens, Dr. Richard Nyong said the company’s capacity to generate very robust internal cashflows remains very strong and sustained.

    Read Also: Lekki Gardens redeems N3.48b CP

    He further stated that the company’s efforts to keep her leverage at a minimum combined with very solid and sustained operational performance despite the severe economic headwinds have ensured they are in a good position to meet all obligations as and when due.

    According to him, this fact was demonstrated in the recent successful repayment of the company’s N3.5 billion three-year debt instrument that matured in January 2024. It would be recalled that the company in 2022 issued N4.18 billion commercial papers under its N25 billion commercial paper programme which were successfully redeemed and repaid in 2023.

  • Witness: Only three floors  approved for Lekki Gardens

    Witness: Only three floors approved for Lekki Gardens

    An Ikeja High Court heard yesterday that the five-storey Lekki Gardens building, which collapsed on March 8 2016, killing over 35 people, was approved as a three-storey building.

    A prosecution witness, Maruis Agwu, made this known under cross examination by Chief Wole Olanipekun  (SAN), counsel to the first, sixth and seventh defendants before Justice Sybil Nwaka.

    Agwu testifying  in the ongoing trial of the Managing Director of Lekki Gardens Estate Limited, Richard Nyong,

    Nyong is standing trial alongside Lekki Gardens Estate Limited and Get Rich Investment Limited, also known as Horizon 1 Extension, House H15, Mr Sola Olumofe; the firm’s contractor, Odofin Henry Taiwo; Omolabake Motunde, Omotilewa Oluwatosin Joseph, Lekki Gardens, and HC Insight Solution Limited.

    They were arraigned on a six-count charge of failure to obtain building approval for the collapsed building and involuntary manslaughter, where they pleaded not guilty.

    Agwu denied giving out the construction work to one Lanre Kuyebi, who he said he knew not to be an engineer.

    He told the court that he is an architect and that he designed the building but had nothing to do with the construction of the structure.

    “I don’t handle structures but only designs. I only handled activities which was limited to the design of the structure,” Agwu maintained.

    The witness however admitted that he was not a registered architect and that he did not sign nor seal the design of the collapsed building.

    He told the court that the company, Lekki Garden Estate, did not direct him to sign nor seal the design.

    He admitted to the court that when the trial commenced and were first brought to court, he was the sixth defendant in the matter.

    Earlier during proceedings, the judge had threatened to issue bench warrant against  Taiwo, who was not present in court.

    However his counsel, Olanipekun, quickly explained that his client thought the court would sit by 12pm, hence his absence.

    The Judge thereafter adjourned the matter till March 19.

  • Three floors was approved for Lekki gardens building – Witness

    Three floors was approved for Lekki gardens building – Witness

    The Lagos High Court, Ikeja, heard on Wednesday that the five- storey building that collapsed in Lekki Gardens on March 2016 was approved as a three- storey building.

    At least 35 people were killed in the incident.

    A prosecution witness, Maruis Agwu, disclosed this during cross examination by Chief Wole Olanipekun (SAN), counsel to the first, sixth and seventh defendants.

    The Managing Director of Lekki Gardens Estate Limited, Richard Nyong, is the first defendant in the case.

    He is standing trial alongside Lekki Gardens Estate Limited, Get Rich Investment Limited, also known as Horizon 1 Extension, House H15, Mr. Sola Olumofe; the firm’s contractor, Odofin Henry Taiwo, Omolabake Motunde, Omotilewa Oluwatosin Joseph and HC Insight Solution Limited.

    They were arraigned on a six- count charge of failure to obtain building approval for the collapsed building and involuntary manslaughter.

    They all pleaded not guilty to the charges.

    Agwu denied giving out the construction work to one Lanre Kuyebi who he said is not an engineer.

    The witness told the court that he is an architect adding that he designed the building and had nothing to do with the construction of the structure.

    “I don’t handle structures but only designs. I only handled activities which was limited to the design of the structure,” Agwu stated.

     

  • Breach of agreement: Lekki Gardens, subscriber on collision path

    Breach of agreement: Lekki Gardens, subscriber on collision path

    When Mrs. Oluwafunmilayo Ogunnaike-Bello, a subscriber to one of the Lekki Gardens Estate scheme, signed the dotted lines for a three-bedroom apartment, she was confident that her dream of owning a comfortable home with ease has materialised.

    With firm commitment to the project, Ogunnaike-Bello had paid up the N20 million asking price for the apartment, exclusive of VAT/Withholding tax- paid by the Purchaser to Lekki Gardens (Vendor), leading to the signing of an agreement between the parties on September 18, 2013.  But this date seeme to have been the last happy moment for the buyer in the transaction.

    According to her, the first infraction by the Vendor is on the specified period for delivery. As contained in the agreement in Section 2.3, the Vendor shall “deliver the property in Shell-Unit specifications as listed in the first schedule not later than 14 months effective from 18/09/2013.”

    This means that by November 17, 2014, the house ought to have been delivered to the Purchaser. It however took two years and five months after the deadline before Ogunnaike-Bello could get her apartment, precisely on March 29, 2017.

    Her disappointment has been further fuelled as the Vendor, she maintained, has failed to adhere to the provisions for default / remedy as contained in the agreement. Specifically, Section 4 (i) of the agreement says that “where the Vendor defaults in the delivery of the property, it shall pay a monthly penalty fee of 0.7 percent interest on the total instalment received from the Purchaser not exceeding three months thereafter within which delivery shall be made without which the Purchaser shall determine the Agreement and all money paid by the purchaser shall be due  and payable in 12 weeks.”

    Yet, the delivery of the apartment, Block D2, Flat 5, Horizon II Extension, Lekki Gardens Estate, to the Purchaser, Ogunnaike-Bello said, has been anything but satisfactory. For instance, before she finally got the keys to the house, the Purchaser said the Vendor made her to pay N250,000 for “water connection” to the apartment. A copy of the Zenith Bank teller, number 4036118, with which the payment was made to the Vendor, dated March 28, 2017, and acknowledged by a certain Adenekan Adebola on behalf of the Vendor, was sighted by The Nation.

    The elder sibling of the Purchaser, Mr. Olarigbigbe Bello, interfaces with Lekki Gardens on behalf of his sister when she is not available. Bello told The Nation that it has not been a palatable experience dealing with the Vendor. He regretted that, after making full payments, and in spite of the several correspondence to, and meetings with, the Vendor, the situation has remained the same.

    “Imagine that the developer failed to connect the apartment to electricity; neither has the entire apartment been connected to water supply even though they collected N250,000 for this from us; this money they demanded was not in anyway contained in the original agreement. We asked them for electrical wires so we could do our connections, but they failed to supply same; only a part of the apartment has water now, like in the kitchen water is not flowing. Its such a shame of a job done,” a bitter Bello said. He added that even the spiral step fitter at the back of the building is anything but beautiful.

    He further explained that he complained to a staff of the Vendor, Mr. Sunday Adeyanju, who is the facility manager, but nothing has been done.

    When The Nation contacted Adeyanju on phone last Monday, he confirmed receiving the complaints about the apartment from Bello. He also said he had since forwarded the complaints to his line manager for further action.

    “Yes I got their complaints, and I have followed protocol by sending same to my line manager. I am awaiting further directive from my boss,” Adeyanju told The Nation in a telephone chat.

    Bello listed other defaults by the Vendor to include failure to do the electrical works in the flat; non painting of the apartment and non fitting of POP ceiling, all contained in the First Schedule which specified what the Shell Unit of the house will contain. Under the second schedule, Bello said the Vendor was in default of providing electricity in the flat; failure to connect the drainage and gutters appropriately leading to heavy flooding in the block and estate in May/June this year; and failure to provide clinic and school.

    At the onset of this development, precisely June 2017, The Nation contacted the Indigo PR, the communications and public relations consultants to Lekki Gardens, for clarification on the incident. Its Managing Director, Mr. Bolaji Abimbola, appealed for time on behalf of his client, assuring the Purchaser and her proxy that he had the assurances of his clients that the needful would be done. “Please give my clients till August 2017 ending, that is two months from now, and everything will be sorted out. My clients are very credible people and they will work on the Purchaser’s observation,” he had assured.

    However, two months after the appeal for extension, the story has remained the same, as the Vendor has not done anything to improve the apartment it collected N20 million for.

    According to Abimbola, there was delay in delivering the house to Ogunnaike_Bello due to some circumstances. He explained that the company apologised to the customer in question. “As you may be aware, the company had a crisis recently and work on all our sites was stopped for a while by the regulatory agency, but we have since returned to work and committed to deliver homes to all our customers. On this note, we would like to seek her understanding,” Abimbola explained.

    However, his position on this was carpeted by Bello. “The apartment ought to have been delivered in November 2014- a clear one year and four months before the Lekki Gardens building collapse of March 8, 2016, which the company is now trying to use as an excuse for the delay,” he said.

    On the N250, 000 fee, Abimbola explained this as the connection fee for infrastructure like water, drainage, sewage and electricity, which he said is not peculiar to the customer, but charged all apartment owners in the estate. “The fee is not extra payment and it is usually paid at the point of key collection,” he explained. Again Bello disagreed on this, claiming that such was not indicated in the agreement signed. “This is fraud and deceit; why didn’t they include this in the agreement we signed, only for them to change the goal post not in the middle of a match but at the end? So are they saying they would deliver a house with basic infrastructure like water without the payment? he asked rhetorically.

    Abimbola explained that the developer is currently working to connect  all the block of flats in the estate to electricity supply, assuring that it would be completed in a “couple of weeks.” While He explained further that the company is only responsible for the painting of the exterior of the blocks while the customers are expected to do the finishing of their unit to their taste. He said the estate was built with adequate drainage plan but the recent rising of water levels and the impact of other construction work around the area was responsible for the flooding.

    “In a nutshell, we would like to appeal to her for understanding as we would ensure that we  resolve all the issues,” Abimbola pleaded.

    For now, Ogunnaike-Bello said the option before her is to institute litigation against the Vendor, and ensure that every breach in the agreement is addressed accordingly.

  • Lekki Gardens chiefs trial begins October 26

    Lekki Gardens Estate Ltd Managing Director Richard Nyong and seven others were yesterday arraigned before a Lagos High Court for alleged manslaughter.

    The charge arose from the March 8, 2016 Lekki Gardens building collapse in which five persons died.

    Their arraignment came after five weeks and four adjournments.

    Their arraignment followed Justice Sybil Nwaka’s dismissal of an application challenging the competence of the charge filed against them.

    The others are, Shola Olumofe, the engineer that supervised the collapsed structure, Henry Taiwo Odofin, Omolabake Mortune, Omotilewa Oluwatosin Joseph, Lekki Gardens Estate Ltd, Get Too Rich Investment Limited a.k.a. GT Rich Investment Limited and HT Insight Solution Limited, which were represented by Nyong Robert and Odofin Taiwo.

    The defendants were brought before Justice Nwaka last May 24, but the charge against them could not be read following an application challenging the court’s jurisdiction.

    Similar applications brought on June 1, 14 and 29 also stalled their arraignment.

    At the resumed hearing yesterday, Justice Nwaka dismissed Olumofe ‘s application challenging the competence of the charge.

    Olumofe, through his counsel G. M. Oguntade (SAN), argued on June 24 that the charge was defective because it did not have the Nigerian Bar Association (NBA) seal.

    But upholding the argument of  Lagos State Attorney-General and Commissioner of Justice Adeniji Kazeem, the lead prosecution counsel, the judge held that the absence of a seal was an irregularity that could be regularised.

    She said processes filed without the NBA stamp were deemed not to be properly served, “but may be deemed valid by a judge.”

    The judge stood down the matter for the Director of Public Prosecutions (DPP), T.K. Shitta-Bey, to affix her stamp on the charge paving the way for the charge to be read to the defendants.

    They were accused of failure to obtain a building permit and involuntary manslaughter.

    According to the charge, the offences contravene Section 75(1) of the Urban & Regional Planning Development Law of Lagos State, 2015 and Section 224 of the Criminal Law of Lagos State, 2015.

    The defendants pleaded not guilty.

    Kazeem noted that by their arraignment the defendants’ previous bail had been revoked, adding: “Following their arraignment, the defendants are now properly before the court. The bail that the defendants previously enjoy stand revoked. However, we are aware that except for the second defendants, the others have been cooperating.”

    Kazeem urged the court to impose bail conditions on the second defendant that would ensure his appearance for trial.

    The defendants did not oppose him.

    Ruling, Justice Nwaka allowed the defendants except Olumofe to continue enjoying their bail.

    She ordered the defendants to deposit their international passports with the court within 24 hours.

    The judge granted Olumofe N100, 000 bail, with two sureties in the like sum. She ordered that he be remanded in prison custody till he perfects his bail condition

    She adjourned till October 26 for trial.

  • Court dismisses Lekki Gardens director’s bid to quash charges

    Court dismisses Lekki Gardens director’s bid to quash charges

    A Lagos High Court in Igbosere on Thursday dismissed a motion by the Executive Director of Lekki Gardens Estate Limited, Mr. Sola Olumofe, seeking to quash the criminal charges filed against him and others by the Lagos State Government over the collapse of a building in Lekki area of the state on March 10, 2016.

    Olumofe, the Managing Director of Lekki Gardens, Richard Nyong and others are arraigned before Justice Sybil Nwaka on charges of negligence.

    Other defendants are – Odofin Henry Taiwo, Omolabake Mortune, Omotilewa Oluwatosin Joseph, Lekki Gardens, Get Too Rich Investment Limited and HC Insight Solution Limited.

    Olumofe, through his lawyer, George Oguntade (SAN,) had urged the court to quash the charges against him because the prosecution has not established a prima facie case against him.

    He submitted that the prosecution failed to invite him for questioning before the charges were filed.

    The state government, in its response, faulted the application, pointing out that Olumofe admitted in his supporting affidavit that there was a nexus between him and the matter, being the lead technical professional in the construction of the collapsed building.

    The government also argued that the state Attorney General has the constitutional duty to file criminal charges against anyone reasonably suspected to have committed a crime.

  • Lekki Gardens: Suspects’ arraignment stalled again

    The arraignment of eight persons for alleged involvement in the March 8, 2016 Lekki building collapse which killed five persons was stalled again yesterday for the third time.

    Justice Sybil Nwaka of the Lagos High Court, Igbosere, adjourned the case till June 29, 2017 for ruling on an application by second defendant Shola Olumofe challenging the court’s jurisdiction.

    The judge stated that depending on her ruling, the suspects might be arraigned same day.

    The other suspects include Managing Director of Lekki Gardens Estate Limited Richard Nyong, the engineer that supervised the collapsed structure Henry Taiwo Odofin, Omolabake Mortune and Omotilewa Oluwatosin Joseph.

    Others are three limited liability companies, Lekki Gardens Estate Ltd, Get Too Rich Investment Limited (a.k.a. GT Rich Investment Limited) and HT Insight Solution Limited, which were represented by Nyong Robert and Odofin Taiwo respectively.

    Two defendants, Marius Agwu and Artech Insigna Ltd, were dropped from the amended charge filed by the Director of Public Prosecution (DPP) T. K. Shitta-Bey.

    Shitta-Bey, however, attached Agwu’s statement in the proof of evidence suggesting that he will be fielded as a prosecution witness.

    The prosecution failed to arraign the defendants on May 24 because Olumofe challenged his inclusion in a six-count charge of failure to obtain a building permit and multiple involuntary manslaughter.

    On June 1, it issued a bench warrant for Olumofe’s arrest after dismissing his application arguing that his appearance in court was not essential until his application challenging the jurisdiction of the court was heard and determined.

    But, at the resumed hearing yesterday, the judge upheld the application of Olumofe’s counsel, G. M. Oguntade (SAN), and vacated the warrant, following Olumofe’s appearance in the dock.

    Oguntade attached medical and travel documents to convince the court that Olumofe had Type 2 Diabetes, high cholesterol level and had been receiving treatment in London.

    He filed a preliminary application urging the court to quash the charge and strike out Olumofe’s name.

    “The proof of evidence does not disclose any prima facie case against the second defendant.

    “Up till now the second defendant has never been invited by the police to make any statement about this case.

    “It is our submission that the failure to take the statement of my client, is fatal to this charge brought before the court,” Oguntade said.

    This was opposed by Shitta-Bey who argued, among others, that the defendant’s right to object to an information/charge filed could not be activated until the prosecution had closed its case.

    “The right to fair hearing becomes activated during trial and not during investigation,” Shitta-Bey said.

    The DPP also told the court that the prosecutorial powers of the Attorney-General (AG) are not subject to any other investigative agency including the police.

    Justice Nwaka, after listening to the arguments, adjourned till June 29 for ruling on the preliminary application and arraignment.

  • Lekki Gardens: Suspects’ arraignment for manslaughter stalled

    Lagos High Court yesterday declined to allow the arraignment of 10 persons over the March 8, 2016 Lekki building collapse in which five persons were killed.

    Justice Sybil Nwaka said they could not be docked until she had ruled on an application brought by one of them, Shola Olumofe, who is claiming that there is no basis for his arraignment.

    Justice Nwaka will rule on the motion June 1.

    The other defendants are Richard Nyong, Odofin Henry, Molabake Mortune, Omotilewa Joseph, Marius Agwu, Lekki Gardens Estate Ltd, Get Too Rich Investment Ltd, HC Insight Solutions Ltd and Artech Insignia Ltd.

    Before the charge could be read, Justice Nwaka observed that Olumofe, Agwu and Artech Insignia were absent.

    The charge seen by The Nation contains six counts of failure to obtain building approval and involuntary manslaughter.

    According to the charge, the defendants “did commence and complete construction of a six-storey building with gross negligence and or reckless disregard for human life, leading to the death of William Akpati, Kazeem Ilesanmi, Raphael Ezeh, Saminu Umar and Sunday Ezeh.”

    Olumofe’s counsel Chief Richard Oma Ahonaruogho said his client was unaware of the arraignment adding that he thought the proceedings were for the hearing of two motions he filed on February 27.

    But Lagos State Commissioner for Justice and Attorney-General Adeniji Kazeem said the business of the day was arraignment. He urged the court to issue a bench warrant for the absentees’ arrest.

    Relying on the Administration of Criminal Justice Law of Lagos (ACJL) 2015, Kazeem said: “The business of the day is not to take preliminary objections, it is arraignment. The operational law guiding criminal matters is the ACJL 2015.

    “All the suspects are on joint information. The three defendants’ non-appearance has effectively truncated today’s arraignment….”

  • Lekki Gardens unveils new structure

    Lekki Gardens unveils new structure

    After six months of strategic appraisal of its operations, Lekki Gardens Estate Limited has engaged the services of top-notch consultants and contractors in the construction value chain to oversee its construction across its project sites, and to ensure delivery of quality and affordable housing to its client.

    Its Managing Director/Chief Excutive Officer (CEO), Richard Nyong, said the company embarked on strategic overhauling to enable it deliver better housing.

    “In the last six months, we have taken time to review and strengthen our technical structure; today, Lekki Gardens now boasts of a solid technical team with qualified and experienced professionals to deliver a world-class housing experience to our clients.

    “We also now work with the ‘best in class’ among building and construction consultants and contractors in Nigeria,” he said.

    Nyong announced the appointment of Andrew Jibunor, a building and construction expert, whose professional career spans over two decades as the Chief Technical Officer (CTO) for Lekki Gardens, adding that the company had made key appointments in other departments of the company, as well.

    He explained that while work had started on some of Lekki Gardens’ sites, construction would commence fully by the end of the month. He appealed to the firm’s clients for understanding, saying the delay in delivery of their houses was caused by the restructuring aimed at delivering world-class quality housing.

    While assuring clients and stakeholders in the company of the safety of their investment, as well as its value appreciation in spite of the economic downtown, Nyong pointed out that despite the temporary setback, the company remains economically viable and liquid without any form of indebtedness to any bank. He revealed that the accounts of the company have been audited and certified satisfactory by Ernst &Young, a global auditing firm.

    Jibunor listed part of the restructuring to include Quality Management, Planning  and Coordination, as well as Health, Environment and Safety checks, saying this was in line with global best practices.

    His words: “In line with the mandate of the technical team, we are leaving no stone unturned in ensuring best quality standards at every stage of the building process. Our new process ensures that every project passes through a more rigorous procedure of monitoring, supervision and approval to ensure that we deliver a unique housing experience for our clients.”

    He said the new technical team had introduced a new health, safety and environment regime,  stressing it is mandatory for all Lekki Gardens facilities, workers and contractors, saying that this had incorporated the implementation of Personal Protective Equipment (PPE), Signages, training and deployment of safety representatives/officers across sites as well as safety induction for  visitors.

    In ensuring a technically sound building and construction, he added that the technical team has carried out a condition survey for sites, building and structures to ensure the quality of work in terms of existing design information appraisal, visual appraisals and inspections as well as other appraisals like soil tests/CPT, NDT, pile loads, perimeter survey, confirmation of topographical and spot levels and mechanical and electrical installation and integrity tests.

    Jibunor added that the new technical team has integrated the use of information technology in their systems with the introduction of the Builders’Trend to provide a bird’s eye-view of their projects on one mobile platform for stakeholders. The builders’ trend communication platform equips the company’s stakeholders, marketers and subscribers, with the tracking mode and follow-ups as well as updates on ongoing projects.

    Earlier, the Lagos State government had unsealed the construction sites belonging to Lekki Gardens. However, the firm opted to delay its recommencement of work until it was able to conduct a self-appraisal by taking a cursory look at  its projects, revisiting technical details, such as soil test, building designs and fixing any identified issues to ensure better housing delivery.

  • Indigo is Lekki Gardens PR consultant

    As part of its repositioning drive, Lekki Gardens Limited, a real estate development firm, has appointed Integrated Indigo Limited as its public relations consultant.

    Indigo is to manage the perception and reputation of the company to ensure that it maintains mutual understanding and goodwill with its publics and stakeholders.

    Lekki Gardens Limited Managing Director  Mr. Richard Nyong, the appointment of a public relations consultant became imperative, considering the company’s growth and huge investments in the real estate sector as well as future business direction, which requires effective communication with its stakeholders.

    Nyong said tIndigo was expected to provide support for the company in key areas, including PR advisory service; government relations; media relations & engagement; media coverage; customer relations and corporate social responsibility, working closely with the management team of the company.

    Indigo Managing Director Mr. Bolaji Abimbola, said: “We are very excited to partner Lekki Gardens Limited as the Public Relations consultant, especially at this time, we do hope to work with the client to reposition the brand for the future as a thought leader in the real estate sector with innovative product offering to its customers.’’