The Nation Newspaper

Tag: property

  • Ambassador Heights wins property award

    Ambassador Heights, the luxury residential development rising adjacent to the Moevenpick Ambassador Hotel in Accra, was awarded an International Property Award.

    In its quest to discover the best developers in Africa, the International Property Awards in London pursued development companies to present their finest works. Entries were received from companies in 13 countries across the continent.  The judging committee chaired by three members of the House of Lords scrutinized hundreds of entries and Ambassador Heights won an African Property Award in the category of “Residential Development.”

    A host of Africa’s finest developers, architects, interior designers and real estate agents gathered in the Joharah Ballroom at the MadinatJumeirah in Dubai on Thursday, December 4. There, in the presence of the Earl of Caithness, chairman of the judges for development categories, the results of the African Property Awards were announced.

    Sales Manager for the project, Robert Davis, commented: “Our team is honoured to win this coveted award which further validates Ambassador Heights’ position as the most exclusive and luxurious residential offering in Ghana.”

    When complete in the 4th quarter of 2015, Ambassador Heights will stand as the only true 5 Star mixed use project in West Africa.  Homeowners will enjoy unparalleled location within the city, world class build quality, attractive rental management options, and access to the amenities and services of the surrounding hotel.

    Ambassador Heights presents the opportunity for a select few to own within a globally recognized and award winning residential real estate development.

  • Appeal Court to hear suit over Abuja property

    The Court of Appeal in Abuja will on January 21 next year hear suit over a property dispute involving a former Nigerian Envoy to South Africa, Ambassador Shehu Malami and businessman, Sir Emeka Offor.

    The dispute is over the ownership of a land in highbrow Asokoro, Abuja on which a Nigerian in Diaspora, Mr. Imokhuede Ohikhuare built two duplexes, but which Malami, claims ownership and claimed to have transferred to Offor.

    A three-man panel of justices, Justice Abdulkadir Jega (presiding judge), Justice Joseph Tine Tur and Justice Mooren Adumein on October 22 acceded to a plea by Team of Counsel to the Appellant, Mr. Paul Erokoro (SAN), Mr S.I.Ameh (SAN) and Mr Femi Falana (SAN) to withdraw some applications they had before the court, which recent developments in the matter made irrelevant.

    Chief Udechukwu (SAN) lead counsel to Ambassador Malami and Sir Ofor, informed the court that he has already filed an appeal at the Supreme Court ahead of the Court of Appeal hearing of the matter.

    Sir Offor claimed ownership of the property on the strength of an irrevocable power of attorney purportedly given to him by Ambassador Malami.

    In 2006, Ohikhuare, a businessman, bought the land in dispute for the sum of N50 million and built residential apartments valued at over N1 billion on it.

    He was living with his family in the property until he was allegedly ejected with force, on the strength of a verdict by Judge A.S. Umar of the Abuja High Court.

    Ambassador Malami challenged the legality of the revocation of the Certificate of Occupancy issued to him on then Plot 865 (now Plot No. 1809) within Cadastral Zone A04) Asokoro, Abuja by the Minister of the FCT and the FCDA.  At the trial court, Malami had claimed that the land was originally allotted to him in 1984, but was unlawfully revoked in October 2005 by the FCDA, which then assigned the same plot to Alhaji Mohammed Habib Aliyu, who eventually sold the land to Mr.Ohikhuare.

  • Braithwaite: ‘Bank’s property violates environmental law’

    Braithwaite: ‘Bank’s property violates environmental law’

    An expert witness in the case  instituted by elder statesman, Dr. Tunji Braithwaite against Standard Chartered Bank has claimed that the bank’s 14-storey building violates environmental law.

    Giving evidence before Justice Doris Okuwobi, Urban and Regional Planning Associate Professor, Tunji Adejumo said his submission was based on an Environmental Impact Assessment (EIA) conducted on the building situated in Victoria Island.

    “A simulation of what the building would look like when completed showed that it would have negative environmental impact in its immediate surroundings, including the Braithwaite’s residence.

    “The EIA did not follow the Federal Government of Nigeria’s EIA procedure, especially Section 4(b) of the Nigeria EIA Decree 86 of May 1992,” the court heard.

    Adejumo told the court that the EIA showed that the building, with a projected 120 capacity car park will constitute health hazard to the residents in the claimant’s (Braithwaite) premises.

    He said the car park will on daily ýbasis constitute noise and air pollution to the claimant as well as compound vehicular traffic in the neighbourhood.

    While using visual illustration, Adejumo said the carbon monoxide from the cars and the three power generating plants sited in the building would lead to emission of gases hazardous to human health.

    He told the court that the required quantity of sun expected to shine on the claimant’s resident would be inhibited, adding that the structure has no protective membrane against birds and human beings.

    He argued that the dangerous gases, which will certainly mix up with South Western winds, from the simulation performed by his firm, will affect the claimant’s residence negatively.

    According to the witness, the construction of the project did not follow best EIA practices as residents and other stakeholders were not consulted by the bank.

    During cross examination, Adejumo claimed that the EIA document being shown by the bank did not follow the regulations set by the federal government, adding that it is below standard.

    “The body responsible for approval of building permit in Lagos State is the Lagos State Ministry of Physical Planning, on the instruction and proper vetting of submitted Environmental Impact Assessment to the ministry of Environment or their agency called Lagos State Environmental Protection Agency (LASEPA) to look at the submitted EIA”, he explained.

    But defense lawyer, Adeniyi Adegbomire argued that the case ought not to have been entertained by the court.

  • Nigerians, others spend £4million on choice UK property every week

    Nigerians, others spend £4million on choice UK property every week

    What has Ebola and Boko Haram got to do with wealthy Nigerians acquiring property in London? A  report says Boko Haram and Ebola have seen an increase in Nigerians investing in the United Kingdom property market  

    A report in yesterday’s London Mail has detailed how African, especially Nigerian, buyers are spending almost £4million on London property every week. The report said they were snapping up exclusive investments in the United Kingdom.

    “Super-rich oligarchs are taking their vast resources and investing them in the safe haven of London property – with more than £600million spent in the capital in the past three years. A mixture of traditional reasons combined with increased terrorism and the outbreak of Ebola is said to be behind the dramatic influx of African money to the capital.

    “While African buyers only account for 1.5 per of transactions in the ‘ultra prime’ London market, they make up five per cent of sales by value – up from two per cent. This is by typically spending between £15million and £25million on each home,” said the report.

    The report said the interest of Nigerians and other wealthy Africans in London property has gone up since the Ebola outbreak and continued terrorism from as Boko Haram and others.

    Beauchamp Estates, which sells some of London’s most expensive homes, yesterday released a report on African buyers in the capital.

    Nigeria leads five other countries, Ghana, Congo, Gabon, Cameroon and Senegal, on the list of big time players in the UK property market.

    The report reads: “Nigerians are the biggest spenders, with wealthy nationals forking out £250million on London homes in the last three years.

    “The new wave of super-rich includes Aliko Dangote, a Nigerian business magnate who, with a £16billion fortune, is Africa’s wealthiest man.

    “Folorunsho Alakija, a billionaire oil tycoon, fashion designer and philanthropist from Lagos, is also a big investor in the London property market. She recently bought four apartments in One Hyde Park, the super-exclusive development in Knightsbridge.

    “Her British-born nephew Rotimi Alakija, who also goes by the stage name of DJ Xclusive, has also invested property in the capital.

    “It is thought other tycoons have also been eyeing up homes on Kensington Palace Gardens – known as Billionaires’ Row.”

    Managing Director, Beauchamp Estates, Gary Hersham, said he has had three super-rich Nigerians enquiring about homes in the past week alone.

    He said: “ I’ve had an upturn in African buyers over the last few months. The situation in West Africa at present is pushing rich African buyers back into Central London at a significantly higher level than is normally experienced.

    “While war, disease and terrorism in West Africa grab media headlines, actually for super-rich Africans its domestic wealth, cultural ties to London, general safety and education for their children that are the key attractions for buying a home in central London.”

    Hersham said these super-rich look to buy property in the ‘platinum triangle’ — Mayfair, Belgravia and Knightsbridge.

    The report added: “Around 80 per cent spend between £15million to £25million on a residential property, with ten per cent spending more than £30million. If they are not buying, they are renting luxury homes for up to £15,000-per-week and staying for between six weeks and three months per year.

    “London’s reputation for having a residential property market, which is secure and a stable investment, is one of the main reasons wealthy Africans are buying, according to Beauchamp Estates. Another reason is historic cultural and community ties.

    “Nigeria is a Commonwealth country and there is a community of 70,000 in London. There are a similar number of Ghanaians in the capital. The third reason is education, with King’s School Canterbury, Wycombe Abbey, Cheltenham Ladies College, Eton, Harrow and Bradfield are among the favourite private schools for wealthy families from Africa.

    “According to the Nigerian embassy, Nigerian nationals spend more than £300million-a-year on tutoring, accommodation, fees and equipment at British schools and universities.”

    Hersham added: “ It is going to be the African century. Continental African buyers or luxury tenants in London are currently where the Russians and Ukrainians were five years ago. At present virtually all the transactions are for end use, not rental investment, which indicates that the African buyer market in London has significant room for growth and maturity. Nigerians have been long standing property purchasers in the central London market, going back to the early 1980s.

    “However, in the 1980s and 1990s they typically purchased houses in North London, in Hampstead, St Johns Wood and Primrose Hill.

    “Now, enhanced wealth has enabled them to move into the ultra prime market in Mayfair, Belgravia and Knightsbridge, and have been joined by affluent purchasers from other West African and French equatorial states.”

  • Ekiti, PDP trade words over property sale

    Ekiti, PDP trade words over property sale

    Ekiti State chapter of the Peoples Democratic Party (PDP) and the Governor Kayode Fayemi-led administration at the weekend engaged in war of words over alleged illegal sale of “valuable property.”

    It started with the PDP alleging that the state’s property were being sold to some chieftains of the All Progressives Congress (APC) and cronies of the governor at “give away” prices.

    But the Information Commissioner, Mr. Tayo Ekundayo, dismissed the allegation as lacking in “substance, relevance and truth.”

    In a statement yesterday in Ado-Ekiti, the state capital, the PDP Publicity Secretary, Pastor Kola Oluwawole, alleged that some top officials in the state’s Housing Corporation and the Directorate of Lands and Planning were involved in the alleged fraud.

    The party added that the sale of property included government assets in the state as well as some located in Abuja and Lagos.

    It listed the affected properties to include pieces of land and houses at Irewolede Estate Phases I and II, Ado-Ekiti, as well as others at Obasanjo Housing Estate, Ikere Road, Ado-Ekiti.

    The PDP said: “Lands at Irewolede and Obasanjo Estates are for Housing Development Scheme, not site and serviced, with Certificates of Occupancy (Cof O) of the estates already used by the Ekiti State Housing Corporation to apply for N1.5 billion mortgage facility from the Federal Mortgage Bank Of Nigeria (FMBN) out of which less than N1 billion has been approved, waiting for payment to the Ekiti State Housing Corporation.

    “Now, a plot of land at Irewolede Phase II and Obasanjo Estate is being sold to Fayemi’s cronies at a very ridiculous price of N200,000, while the houses at Irewolede Phase I are being allocated to political appointees and Fayemi’s cronies at a giveaway price of N6 million instead of the N12 million placed on the property by official valuer.”

    The party noted that government vehicles, both new and fairly used, were being auctioned at prices that could not be justified.

    But Ekundayo, in a telephone chat with reporters, stated: “It is not true. They should show proof. I am not aware of such and if they are sure of their fact, they should wait till October 16 when they take over and revoke such properties.

    “I don’t think a sensible government could say because it is leaving, it can start selling property of the state. Such allegation is senseless and unsubstantiated and should not be taken seriously,” he said.

  • WEMABOD urges staff to tackle change in property tastes

    Members of staff of Wemabod Estates Limited have been told to prepare for the challenges confronting property business globally, as a result of continuous change in taste.

    The advice was given by the company’s Managing Director, Mr. Olumide Ologun, at the 2014 retreat organised for members of staff held at the Lagos Airport Hotel, Ikeja.

    In a speech titled: “What got us here won’t get us there”, Ologun remarked that the face of property and real estate business was changing all over the world, and as such, new ideas, concepts, touch, designs, and taste had also emerged.

    He insisted that the only way any company that knew its onions in real estate business such as Wemabod Estates Limited could take advantage of such changing ‘face’ was to prepare itself with new ideas and techniques that would not just make it to be ready for such changes, but to also revolutionalise the entire housing sector.

    “The market is changing, the consumers are changing, tastes and social behaviours are also changing and if we must remain in business, we must continue to invent new ideas with the aim of delighting our customers,” he noted.

    “Real estate business has gone beyond rents collection, we must continue to think outside the box, be proactive and always connect ourselves to the needs and demand of the market,” said Ologun.

    But he was quick to point out that the theme for the retreat: “Breaking New Grounds: a strategy for sustainable growth” was carefully chosen because it was in line with the company’s strategy of rebranding, repositioning, diversifying and growing of its business operations outside the normal property management in which rents collection was major, and which, according to him, had made property owners slaves to their tenants.

  • Widow sues firm over leased property

    An 86-year-old  widow, Mrs. Adedayo Dada has sued a Lagos based firm,  Timicom Telecommuications Limited,  owned by the Acting National Vice-Chairman, Southwest of the Peoples Democratic Party (PDP), Mr. Deji Doherty,  before an Ikeja Magistrate Court for false information and misrepresenting facts over a leased property.

    In her Statement on Oath, the widow stated that the defendant had misrepresented facts to the sub-tenants of a property inherited by her from her late husband, Dr. Ekundayo Dada, located along Joel Ogunnaike Street, GRA Ikeja, Lagos.

    The widow and the administrators of her late husband estate told the court presided by Chief Magistrate Eniola Fabamwo, that her husband entered into an agreement with the defendant for the lease of the property for a term of two years, starting from February 19, 2001 to February 19, 2003.

    She averred that in October 2001, the defendant sought the consent of the lessor, vide a letter dated October 30, 2001 to extend the said lease for an additional five years.

    She said the lessor consented to extend the said lease for an additional three years.

    According to her, the lease was further extended for one year, from February 19, 2007 to February 18, 2008 for N1.6million.

    Mrs. Dada further stated that her husband died during the period and the management of the  premises devolved to her as the surviving spouse of the lessor and the beneficial owner of the property.

    Subsequently upon  the lessor’s death, and  series of negotiations and exchange of correspondence with the defendant, she claimed that the lease was further extended to February 18, 2013.

    She claimed to have written  the defendant a letter dated January 30, 2012, that she and the estate of the lessor had agreed to make personal use of the property at the expiration of the lease on February 18, 2013 but was  issued a Notice to Quit dated June 3, 2012.

    She said the defendant informed her that it had rented the building to third parties up to 2015, contrary to the  lease agreement.

    Further investigations, she stated in her Statement on Oath revealed that “the defendant had at different times made unauthorised alteration to the building and had rented it out to nine different sub-tenants for various terms”.

    She added that the wife of Doherty, Mrs. Abiola Doherty had in October 25, 2012 sent her an email showing the schedule of tenants, that the defendant had collected monies from and when the term granted to them would expire.

    She lamented that the defendant had fraudulently misrepresented facts to the sub-tenants and thereafter rented the premises beyond the term granted it without her prior or subsequent consent or ratification.

    The statement went further: “I never increase the rent and did not demand for three years advance payment. On the contrary, upon the discovery that the defendant fraudulently obtained monies by false pretence from the sub-tenants, far beyond the term granted him, I requested that part of the monies collected from the sub-tenants as rent (estimated at about N13 million), be remitted to me, to enable me accommodate the interest of the sub-tenants, since the defendants tenancy had been determined”, she stated.

    But in his defence and counter claim filed before the court, Timicom Telecommuications Limited stated that it did not breach any covenant as the approval of late Dr. Ekundayo Dada was obtained before it built the shopping complex in the demised premises.

    The defendant stated that the late Dr. Dada pleaded with it to take over the premises and carry out any renovation necessary either for residential or business premises in order to salvage the property from collapsing entirely.

    Timicom Telecommuications averred that there was an agreement with the deceased lessor that should the premises be used for business, it must be converted back to residential status upon the determination of tenancy.

    “As a result of understanding between the defendant/counterclaimant and the plaintiffs/defendants predecessor (Dr. T. Ekundayo Dada) the defendant/counterclaimant invested about N40million and carried out massive reconstruction of the demised premises which was done in two phases whereupon it established business therein.

    “As a result of huge investment made by the defendant/counterclaimant, it insisted on long lease in order to recoup its investment but the late Dr. Ekundayo being a retiree insisted on yearly tenancy as he may often need money but assured the defendant/counterclaimant that there will be no problem being a bossom friend of Dr. Tunji Doherty, father of the defendant/counterclaimant chairman.

    The defendant stated that the plaintiffs never raised any issue about the shopping complex built in the premises even when the widow took over the administration of her late husband upon his demise in 2007, until 2013 when disagreement ensued between them over increase in rent to N10 million and demanded for three years advance payment in the sum of N30 million.

    The defendant added that whenever he complains about the outrageous increase in rent, Mrs. Dada will tell him to pass it on to the tenants in the demised premises.

    Timicom Telecommuications urged the court to dismiss the suit with substantial cost.

    The defendant also prayed the court to grant it additional five years subject to payment of reasonable rents to enable it recoup its investment in the demised premises.

    It also prayed the court for an order authorising it to convert the demised premises to residential premises in accordance to the tenancy agreement.

     

  • Oranmiyan Tower that secures lives, property

    Oranmiyan Tower that secures lives, property

    Since the construction and commissioning of the Oranmiyan Security Tower in the commercial district of  Ile-Ife, Osun State on December 9, last year, there has been no incident of bank robbery in the ancient town which incessantly plagued the financial institutions in the area and its environs in the past.

    The visionary initiative of the executive secretary of Ife Central Local Government, Dr. Taiwo Olaiya, no doubt, has enhanced the security of lives and property in the entire Ile-Ife town.

    Also, constructed behind the Security Tower is a modern Shopping Complex to support business in the area. The facility has offices and a canteen. Specifically, the canteen is to serve traditional dishes for the tourists likely to visit the place.

    A visibly elated Olaiya, no doubt, was impressed with the facility. He betrayed his joy at the commissioning when he revealed that the construction took after a similar facility in Washington DC in the United States of America.

    According to him, the edifice, which is about 140 feet high and occupying 15 feet square meters, is fortified with modern electronic multimedia equ-ipment, the best that could be found anywhere in Nigeria.

    With security officers, including regular and mobile police, men of the Nigeria Security and Civil Defence Corps, operating on different floors of the six-story tower, it is easy to monitor the heinous activities of the armed bandits. The security men are at their duty post on a 24-hour basis operating four shifts of six hours each.

    One of the floors is equipped with CCTV and communication gadgets that receive data from and monitor the infra-red four, three, two and uni-dimensional cameras placed on the rooftops and other strategic areas of the town like Ori-Olokun Roundabout, Ooni’s Palace Square, Sabo Junction, Fajuyi/More Junction, Ilesa Road, Obafemi Awolowo University frontage, Ibadan Road Axis, and Parakin Obalufe Scheme.

    Three giant LED TV screens are installed on the tower’s frontal three walls for promotions of the rich Ife/Yoruba cultural heritage and advertisements.

    The state governor, Ogbeni Rauf Aregbesola, who was proud of the project at the commissioning, reiterated his adminis-tration’s commitment to effective security. He maintained that any good government must be committed to protection of the life of its people and property.

    Aregbesola said the project was another testimony of the unprecedented governance his administration has been superintending in Osun in the last three years. He said: “This is one of the greatest innovations by the local government to protect the lives and properties of our people in the source that is why it is irritating when they are comparing our government with Peoples Democratic Party’s government. They cannot match us in all ramifications. They were there for seven and half years and nothing to show for their stay in government. Some people are even insinuating that we cannot come to Ife comfortably they cannot match our popularity in Ife at all. They can never be popular than us because Ife as the source of Yoruba race is the source of the virtuous and every other good things therefore a killer, political bandit can never come from great Ife.”

    Just like many people have believed the Oranmiyan Security Tower and the Shopping Complex too will have direct, positive impact on the lives of the people of this city, the governor said that it would greatly enhance security of life and property, the shopping complex will further facilitate the flourishing of trade and business.

     

  • Christmas tragedy: Church property up in flames

    Christmas tragedy: Church property up in flames

    It was a black Christmas and a day that will not be easily forgotten in the history of St Kizito’s Catholic Church, Kuje. It was a day fire razed half of the office and residential building of the Parish Priest. The cause of the fire could not be ascertained.

    During the Morning Mass on that day, little did members and leaders of the church know that tragedy was lurking around to play out later in the evening.

    It all started about 4:15 in the evening according to an eyewitness who was passing by the church when the fire started.

    Suddenly, the witness said, a flame was noticed coming out of the church premises and just to find out what was happening, a Federal Road Safety Corps (FRSC) vehicle was seen driving on speed towards the gate of the church. Immediately, fire water-laden tanker was also following the vehicle.  People were running haphazardly shouting ‘fire, fire’ while security men whose district headquarters is located opposite the church, were also running towards the same direction to find out what was happening.

    People gathered at the entrance of the church clamouring for the gate to be opened to enable them to help in salvaging the situation.

    After several attempts, the gate was opened and onlookers, security operatives and fire fighters rushed to the scene of the blaze. It was discovered, to their chagrin that the fire had started long before people outside the church noticed it.

    Men of the fire service later put out the fire which could have razed the entire building that was housing the Parish Priest, other Reverend Fathers and church workers.

    One of the church workers told Abuja Review that most of them were sleeping when the fire started. It was when they suddenly woke up that they noticed smoke was coming out from one of the rooms.

    The worker, who pleaded anonymity and could not tell what caused the outbreak of fire, said all efforts to put out the fire were futile.

    “It was my colleague that woke me up, if not, I would have been dead by now. But I thank God. I do not know what went wrong. I am still in shock,” the source said.

    Some valuables were removed from the building when men of the fire service were putting out the fire.     Mr. Tokunbo Cletus who led the Federal Road Safety Corps (FRSC) team to the scene said: “We were on patrol when we saw smoke coming out from the church premises. We have to put a call through to the officer of the fire service to rescue the situation. We had to rush down here with them.

    “We noticed the fire incident around past four in the evening. The cause of the fire was not known. It could be a generator spark or from the kitchen.”

    The leader of the officials of the fire service who did not disclose his identity said: “My advice to people now is to be very careful and ensure that they have firefighting equipment in their homes. If there was firefighting equipment in this house, the fire outbreak would have been tackled.”

    Rev. Father Michael Ngoka, the Parish Priest of the St. Kizito’s Catholic Church, Kuje said: “I was at the prison celebrating Christmas with the inmates. It is the annual visit of the Catholic Archbishop of Abuja because every Christmas Day, he goes to the prison to see the inmates and interact with them. So, when he comes, the Priest who works around here is supposed to be there to receive him.

    “It was a drama-sketch that was going on when a security officer alerted me. He said he had a message for me and I followed him out of the prison premises. He told me that there is a problem at home that he just got information that there is fire in my house and they need me.  On hearing that in did not even go back to the Archbishop to inform him of my leave, the message came so sudden and I was a little bit worry to know if anybody was hurt or killed in the process.

    “I took off and as I was coming I was calling the fathers, seminarians, the cook the house boy and nobody was picking not knowing that they were here and when I came in there was a crowd and everybody was busy helping out that was the reason they did not pick my calls.

    “It was when I got here and I saw the crowd that it dawned on me that my house was in danger. The generator was on when I left the prisons, usually we run generator in the afternoon. But I did not get the details of what caused the fire outbreak. I do not think it’s the kitchen because it began from the room of the parish priest. Everything there was completely burnt to ashes. At least other rooms they were able to evacuate certain things out. There must have been a spark somewhere.

    “But in any case I give glory to God, my major concern when I was driving down I was praying that there should be no casualty. The distance between prisons and here is ten minute but it looked like one day drive. I was speeding to come home but home was so long and it looked like it was unreachable. I am calm that everybody is fine is just that we lost so many valuables to the inferno.”

    No one could explain the cause of the ugly incident but the fact remains that everyone should be careful especially during this dry season.

     

  • ‘Why Edo is selling its property in Lagos’

    ‘Why Edo is selling its property in Lagos’

    The planned sale of the ‘Edo House’, the property of the Edo State government in Lagos, has generated controversy. Governor Adams Oshiomhole spoke with reporters in Benin-City, the state capital, on the transactions and other issues. Osemwengie Ben Ogbemudia was there.

     

     

    Tempers are rising over the proposed sale of the Edo House by your administration.

    What informed this decision?

    I think that the whole essence of democracy is that people have the right to express support and people also have the right to condemn in the strongest term possible any matter of public interest for which they feel uncomfortable. That is what makes us an open society and we are prepared and ready to response to any question. First, Edo House has not been sold and it will not be sold secretly. Yes, we decided as a government at the level of the State Executive Council to look at the matter of Edo House and all issues around it and we came to the conclusion that it is in the interest of Edo State and, in particular, Edo Tax payers, that that property be put to the market in a very transparent manner. I emphasise this because governve been sold by previous government, including military and civilian, without the benefit of advertising it.

    If we wanted to have an underground transaction, to sell to ourselves or family, we will not need to advertise it. It is consistent with our commitment for transparency and accountability that we decided that, as a matter of obligation, we decided to advertise the house. However, having noticed some reactions, I thought that, giving an opportunity such as this, we put the matter to the public and more so, that it has not yet been sold, but our decision to sell it has not been revised, but we are willing to have an open mind and certainly, not an empty mind on this matter. I think I have a duty as your steward to share with you my conviction and reason why as the governor of Edo State, I approved of the decision to sell the house.

    What are the facts about Edo House, considering the stiff opposition from indigenes against the proposed sale?

    Edo House, as it is called, is located on a prime area, along with several states, which have similar properties in the same area. This was as a result of the fact that Lagos was the capital of Nigeria. Consequent upon the creation of Abuja, just as we are been summoned to Abuja from time to time, it was even more so during the military that governors had to go to Lagos for one meeting or the other. And of course, you need effective liaison between the state government and the Federal Government when Lagos was the capital of Nigeria. So, in order words, Edo House in Lagos was built to provide space for liaising services and secondly, to provide accommodation.

    In Edo House, we have what is called the governor’s chalet and the deputy governor’s chalet and other chalets to be used for government and non-government officials when they are in Lagos. As far as I know, that was the reason Edo House was built as at the time it was built. However, two things have happened. First, Lagos lost the status of being the capital of Nigeria when the capital was relocated to Abuja. Consequently, the issue of Lagos liaison between Edo State and the Federal Government can no longer take place in Lagos. Indeed, I am sure that many of you will know that the Federal Government has sold the Federal Secretariat and a lot of Federal Government properties in Lagos, although in some cases, in a controversial manner, but it has been sold.

    The 1,004 housing units, which used to house the National Assembly members, once Lagos lost it status as the capital and the parliament relocated to Abuja, the property was sold, and it remained sold to private companies because there was no need to maintain them when the parliament is no longer in Lagos. We can speak about several properties that have been sold. The state governments have sold their properties built for liaison purposes between those state and the former federal capital.

    We want to ensure that the investment we make is sensible and that you do not tie down money or asset that is performing so that the primary political purpose and even the social purpose is lost. The Edo House, before I assumed office, from records, showed that none of my predecessors stayed in that lounge. The governors and their deputies did not stay there because it has been in terrible shape and I can almost swear that, even if we decide to revise the decision, it is not likely to be used by my successors.

    What is your reaction to the argument that the property is commercially viable, contrary to the position of the state government?

    That again is not true and the answer is no. I have asked for all the evidence. My predecessor in government had contracted the management of Edo House to various estate agents. I confirmed recently that the managing agents have changed for six times and, from records, the last one was done by a commissioner under my government during my first tenure. Whether the agent has changed or not, the facts available are clear.

    The total annual estimated income, if and when it is paid in full by our agent, is put at N34 million, but even this amount was never realised in one year, certainly not since I assumed office and you all know how hard I have tried to collect every revenue available to the Edo State. But the record of my predecessors show that the return was even less as of that time. If we assume, without conceding, that we have been able to reaslise N34 million in 10 years, it will attract N340 million and, if you pay five per cent to the estate manager, your net would be N340 million in 10 years minus 10 per cent.

    In 20 years, it would be N620 million, in 0 years, we would have made N1. 36 billion. I want to imagine that we have seasoned estate managers. I also want to recall that, when I was the Chairman of the Nigeria Social Security Trust Fund, we were involved in acquiring real estate and I was told by the experts that, in trying to put value, whether it is viable to buy landed property, you are looking at a possibility of between 12 and 14 years. If you can’t recover your investment, it is not considered a viable asset.

    So, when I say that Edo House is not viable, it is because I believe, whether by reason of its location and what it might require to reposition it, it would be worth a couple of billions. I would be shocked certainly, if anybody tells me it would be less than that.

    Some people reason that it would be better to re-invest in it than outright sale?

    Yes, it is an option. We can decide to rebuild or renovate, but it would require more than half a billion naira to put the property in a rentable state to compete with other properties in that neighborhood. As your governor and steward, who has the privilege of collecting your taxes and putting those taxes into best use, the issue for me, is will it be in the interest of Edo people that I collect half a billion and take it to Lagos and re-invest it so that we can collect more rent? If we collect more rent, how many years? What is the commercial purpose?

    Don’t you think the Edo House represents a monument that needs to be preserved for children yet unborn?

    I have heard some people say that and I have tried to search for the meaning of the word monument in the Oxford Dictionary. Edo House is not one of our tourist attractions and there is no big history behind it. It does not depict our traditional value, neither was it designed by an architect that had in mind the peculiar Edo culture. And, if anybody says it represents our culture or it is a monument, then, I stand to be educated. A monument cannot be an asset that would be so bad that no body here would say he went to Lagos last week and stayed there. However, my first choice in arriving at the decision to sell, and this is in line with our commitment to raise revenue from any legitimate sources as we can in order to rebuild Edo State. Government, no matter how hard we try, never seem to get full value from property the way a private person would do. Some people have converted it to hotel and for short stay. I had to take your tax payers money to hire a senior lawyer and the case is running for, at least, three years now. As we speak, ejecting those tenants has not been possible and, if things go the way they are, the matter will be not be settled during my tenure. We are living painfully with an individual who is defrauding the Edo State government. For an individual property owner, there are many options to get rid of your tenants. For me, I am very clear of my mandate and obligation and it is to develop Edo State and not Lagos State because I am committed to divest in Lagos and re-invest in Edo. We are not set out to be collecting rent from rooms and parlous. When I was campaigning, I didn’t promise that I was going to build houses for rent because no government is about that.

    You just talked about divesting to re-invest the proceeds back to Edo State. What area of investment is your government considering?

    I believe Edo State needs a convention centre. It is my conviction. Edo State needs to be a tourist centre because we have a lot of historic centres to attract tourists in all the 18 local government areas. For Edo to truly become a tourist destination, there are certain infrastructure that must be put in place, not just a five star hotel, but one with convention facilities. In Edo, we have various hotels, but certainly, not a five-star hotel and we do not have any conference hall, you do not want to host any event where all the participants are scattered in different hotels and before now, in going round Benin City, I observed the location of the military hospital and I was told why and when it was built, but given today’s reality of Benin City, the military barrack is at Ekenwa and we have discussed with the military and they have given approval in principle to cede the place to us on the authority of the Chief of Army staff.

    The land can be put to better use for the good of Edo people. In selling Edo House, the proceed will be use to built a five-star hotel and we will subsequently privatise it in a transparent manner because experience has shown that government is not a good managers of business based on current reality, so that we do not owe it 100 per cent depending on who is coming into it with the government

    There are speculations that you have already sold the house to yourself

    One of my friends, who do not like me now, said that I took his land and gave it to a company to built a shopping mall and he alleged that I have sold the house 60 per cent to my self and 40 percent to what he described as a non- biological son. I m not an angel, but I am not a greedy person and I pray that I will never become so greedy that I want to become the owner of Edo State, and that is not in my prayers.