Mr. Olukayode Olusanya, CEO of Oak Homes Limited, made the admission in court while facing questions over a broken agreement. He had filed a suit against U.S.-based engineer, Mr. Anthony Ugbebor, and the Economic and Financial Crimes Commission (EFCC).

Developer Confirms Missed Deadline

Under questioning from defence lawyer N.O. Salau, Olusanya admitted the apartments were not delivered by the promised date—February 28, 2019. He also confirmed that Ugbebor completed payment for the two three-bedroom units between 2017 and 2022.

Despite the delay, Olusanya claimed the buyer was aware and accepted it at the time.

Sale Made Without Buyer’s Permission

The situation worsened when Olusanya revealed he sold the apartments without Ugbebor’s approval. He said he acted based on authorization from the EFCC, not the buyer.

He also stated that he refunded the money, following EFCC instructions. However, he did not provide a written explanation for ending the agreement.

Documents and Objections in Court

The court accepted nine documents as evidence, including an affidavit filed in May 2024. But when Olusanya’s legal team tried to submit the purchase agreement, defence counsel objected. The document was unsigned.

Justice Akingbola George agreed and rejected the document, saying it had no legal value.

Trial Delayed as EFCC Requests Time

The EFCC’s lawyer, Mr. M.A. Sheu, asked for more time to study the case. He said he recently returned to work after being ill. The judge granted the request and adjourned the case to June 30, 2025.

Summary

A deal that began with promise has now become a legal battle. The developer’s failure to meet his commitments and his decision to act without buyer consent has drawn in Nigeria’s top anti-corruption agency. The court will now decide who was truly in the wrong.

The post N152M Apartment Dispute: Developer Admits to Delay, Says EFCC Approved Sale Without Buyer’s Consent appeared first on Housing TV Africa.

The land distribution took place at one of the developer’s major property sites, Awesome City in Mgbakwu, Awka South Local Government Area.

The event brought excitement and joy to the workers, who were praised by their boss for their hard work and dedication. Okemmuo, an Ebonyi State-born entrepreneur and CEO of AFF Landport Global Estates Ltd (Mega Wealth World), shared his belief that life thrives when individuals are disciplined, genuine, unselfish, and willing to help others.

Okemmuo recounted how the idea of gifting land to his employees was initially met with skepticism, with many doubting the sincerity of the promise. “When I said I would give land to all the realtors in our company, people thought it was a scam,” he said, reflecting on the disbelief the idea caused.

He further emphasized that land, instead of being a curse, should be considered a blessing, as it is the foundation of everything humans use and consume.

The developer also appealed to other leaders and wealthy individuals to think outside the box in creating opportunities for the less privileged. As part of his broader initiative, Okemmuo promised that a second batch of workers would soon receive their plots in Delta State or any other location of their choosing. This gesture is being celebrated as a rare act of generosity in a world where land is often associated with conflict and greed.

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Nweke clarified that the disputed land in the Ochiokwa area was legally acquired from its rightful owners and did not belong to the entire community as claimed by some residents. He explained that specific families in Urum owned the land and had the right to sell it.

The controversy had sparked tensions in the community, with the President-General of the Urum Development Union and other leaders insisting that the land was communal property. They accused Chukwueme of encroaching without proper documentation.

However, addressing journalists at his palace on Wednesday, Nweke stated that his investigations confirmed that the estate developer lawfully acquired the land from private owners. He noted that while a portion of land was revoked by former Governor Willie Obiano’s administration, it did not affect the Ochiokwa area in question.

Speaking via Zoom from Awka, Chukwueme dismissed the land-grabbing accusations, urging the public and the Anambra State Government to disregard the claims. He emphasized that his acquisition followed all legal and traditional procedures, with relevant documents and signatories obtained.

Supporting Chukwueme’s claims, Ephraim Aniebonam of the Uruokpala clan in Akitinyi village confirmed that the disputed land—comprising about 1,000 plots—was inherited by specific families and not communal property.

He and other family members expressed frustration over the ongoing dispute, insisting that the President-General had no right to interfere in their private property transactions.

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The Lagos State government has offered restate estate developers in the state fresh guide on how to get building approvals to avoid the pain of demolishing their buildings after construction.

In recent time, a good number of buildings have been demolished by the state government, citing lack of building approvals or contravention of existing physical laws. This has always left sour taste in the mouth of the residents as the victims lose either homes or investment or both.

To avoid all these, the state, in a recent state, documented the various requirements which a builder must meet in order to obtain the relevant authorities approval to continue with a planned construction.

Those many of these requirements are quite relevant and necessary to ensure building stability and safety of buildings, some, according developers are spurious and seem to be there for the purpose of generating revenue to the state government.

In the new disoensation in Lagos, to get approval, the state requires a builder to provide:

Proof of Ownership: This is aimed to show that the the applicant is the rightful owner of the land or property on which the building is planned. Incorporated into this document are Certificate of Occupancy (C of O), a Deed of Assignment, or any other legal documents confirming the ownership rights. The state reasons that having this document prevents property rights conflicts. It assures the government that the building is on legitimately owned land.

Tax Clearance Certificate: a developer is required to provide a Tax Clearance Certificate (TCC) which certifies that all taxes have been paid or are in good standing. It also shows that a person or entity has complied with their tax responsibilities to the government. It is essential to the building process in Lagos where tax is an integral part of governance. Without the certificate, a builder finds it difficult to apply for and get permits and approvals.

Land Use Charge Receipt: In Lagos, land is an equivalent of an oil well. So the state does not joke with the tax it charges land or property owners. So, this receipt is an essential document that indicates if a particular area or land is designated for residential, commercial, or industrial uses. The receipt is required before one can get a building permit and approvals.

Structural Engineer’s Supervision Letter: The aim of this particular item is to prevent the high incidence in the state. The letter is a document that gives property owners peace of mind regarding the safety of the project and reassures regulatory authorities that a qualified professional will oversee the work.

Subsoil Investigation Report: This is also aimed to prevent building collapse by determining the texture of the soil on which a building is to be sited. It is produced by certified geotechnical engineers, and contains data on groundwater levels, soil types, and bearing capacities. The report is needed to direct the foundation design and construction approach by detecting potential concerns such as soil instability and groundwater issues.

Electrical Drawings: Electrical drawings are essential records that offer thorough layouts for a building’s electrical systems. This is meant to ensure safety laws and standards which is why the drawings are expected to contain layouts for wiring, circuit configurations, lighting, and power distribution.

Mechanical Drawings: These drawings are very important in construction projects as tthey detail the mechanical systems of a building, such as heating, ventilation, air conditioning, plumbing, and other mechanical installations. The drawings provide specifications for equipment layout, pipe systems, and airflow designs, ensuring that all mechanical aspects work properly and safely.

Other more traditional or familiar requirements are the Survey and layout plans, and structural drawings, The state explains that a survey plan is necessary for building projects because it guarantees that the dimensions and borders of a plot of land comply to the laws.

The developer is also required to produce Architectural Drawings which is sealed, signed, and stamped by an Architects Registration Council of Nigeria (ARCON)-registered architect. This is expected to provide comprehensive plans and specifications of the proposed structure, including layout, measurements, and architectural elements.

These designs show that the building codes and regulations in Lagos are being followed, which is essential for getting building permits. It also acts as a construction blueprint, steering the project from start to finish and reducing expensive errors.

On its part, the structural drawing gives critical information regarding the dimensions, materials, and construction procedures to be employed, ensuring that the building is safe, stable, and following the state’s building rules. Such a drawing usually comprises specifications for foundations, beams, columns, load-bearing walls, and other components.

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… As some experts see unique opportunities for real estate investment

The Housing Development Advocacy Network (HDAN) has raised concerns over the recent hike in petrol prices, warning that the increase, coupled with high-interest rates and fluctuating exchange rates, will have severe repercussions on Nigeria’s real estate sector.

In a statement released by HDAN’s Executive Director, Festus Adebayo, in Abuja, the advocacy group highlighted the cascading effects these economic challenges will have on developers and the housing market as a whole.

Adebayo noted, “The recent hike in the price of premium motor spirit (PMS) from N568 per litre to N855 will only compound the already rising costs in Nigeria’s real estate sector. This will inevitably lead to higher property costs as developers are left with no choice but to pass on these increases to consumers.”

He further emphasized that the real estate sector, like many others, is feeling the strain of the current economic environment. “The instability in exchange rates, high-interest rates, and now the petrol price hike are creating an unsustainable situation for developers. This will also push up the costs of building materials, house purchases, and rents at a time when the disposable income of the average Nigerian is dwindling,” Adebayo stated.

READ ALSO: Small Businesses in Abuja Struggle as Fuel Prices Surge to N1,100 per Litre

The Nigeria National Petroleum Company Limited (NNPCL) recently reviewed petrol prices upwards amidst ongoing fuel scarcity across the country. HDAN warns that this development will exacerbate the challenges already facing the real estate sector, which has been grappling with inflationary pressures and a sharp decline in the naira’s value. “As Nigerians allocate more of their income to transportation and energy costs, they will have less to spend on other essentials, including housing,” Adebayo explained. “This scenario is likely to further increase inflation, adding even more pressure on developers.”

Interestingly, while HDAN and other stakeholders lament the negative impacts of the fuel price hike, some experts argue that this situation could present unique opportunities for real estate investment.

As transportation and manufacturing industries slow down due to rising fuel costs, investors might increasingly turn to real estate, which is seen as a stable and relatively low-risk option. Higher transportation costs could also drive demand for properties located closer to city centers and commercial hubs, potentially boosting property values in these areas.

However, HDAN maintains that the immediate impact of the fuel price hike on the real estate sector will be largely negative. The organization urged the government to engage with stakeholders, including the Real Estate Developers Association of Nigeria (REDAN), to find solutions to the sector’s challenges.

READ ALSO: Revealed: New NNPCL fuel prices for Lagos, Abuja, others *Full list, State by State

While the petrol price hike presents significant challenges for Nigeria’s real estate sector, governments may introduce policies to promote economic stability, including incentives for real estate development. “Ultimately, the fuel price hike underscores the need for a comprehensive approach to address the challenges facing the real estate sector,” Adebayo concluded. “Collaboration between the government, developers, and other stakeholders will be crucial in navigating this difficult period and ensuring the sector’s long-term sustainability.”

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