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Author Archives: NREH

Real Estate, Viable For Economic Diversification – Broll Nigeria

economic diversification

The Chief Executive Officer of real estate investment firm, Broll Nigeria, Mr. Bolaji Edu, says real estate is a viable industry for economic diversification. At the recently held West African Property Investment Summit 2017 in Lagos, where Broll was the platinum sponsor, Edu said Nigeria had heightened investment potential among the comity of nations as the real estate industry was ...

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Develop your expertise, institute tasks 292 NIESV inductees


The Nigerian Institution of Estate Surveyors and Valuers (NIESV) has called on its 292 newly inducted associate members to imbibe professionalism in the practice of real estate business. Dr Bolarinde Patunola-Ajayi, the President of NIESV, made the call at the 2017 Associates’ Induction of the institution in Abuja. He said the induction of new members was to beef up the ...

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5 Seller Mistakes that can sink a Home sale

Home sale

Selling a home may seem like a simple process. You clean it up, show it to a few people and one of them buys it. The trouble is that the process is actually much more complicated, with legal and practical considerations you may not know much about. Sometimes, sellers make simple mistakes that could cost them big, even after the ...

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A Rant about The Menace Of Omoniles: Is Government Doing Enough?


Are you preparing to start construction on your landed property in Lagos? Have you budgeted a portion of the construction fee for the Omoniles? For how long will this trend continue? Shouldn’t the government take drastic measures to tackle the menace of Omoniles? If the pronouncement by the Lagos state government is to be taken seriously, then the days of ...

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Real Estate: Stanbic IBTC, others list path to long-term development

Stanbic IBTC

Stanbic IBTC Holdings PLC and other players in Nigeria’s real estate industry are pushing for a long-term strategy for the sector to attract domestic and foreign institutional investments to establish sustainable foundation for the commercial real estate sector to support the nation’s economic growth, development and diversification efforts. At a two-day West Africa Property Investment Summit in Lagos, recently that attracted ...

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High Court Orders Lagos Director To Forfeit N28.5M, Properties To FG

Lagos Director

A Federal High Court in Lagos on Thursday ordered temporary forfeiture of N28, 500, 000 and several houses allegedly belonging to a Director of Accounts under the Lagos State Ministry of Public Works Corporation, Anifowoshe Alade to the Federal Government. The order was sequel to an ex-parte application filed before the court by the Economic and Financial Crimes Commission (EFCC) ...

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Man, 22, stabs co-tenant with arrow


Lagos – A 22-year-old man, John Kujes, who allegedly stabbed his co-tenant, Tony Jaosu, with an arrow on the shoulder, was on Thursday brought before an Apapa Magistrates’ Court, Lagos. Kujes, a resident of Abule Ado area of Lagos, is facing a charge of assault, to which he pleaded not guilty. The prosecutor, Sgt. Olusegun Kokoye, told the court that ...

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FG Advised to Introduce Subsidy in Housing, Tax Occupied Property

…As stakeholders propose affordable housing bill to NASS Experts in the housing sector of the nation’s economy at the weekend called on the Federal Government to introduce subsidy in the sector to enable the country achieve the dream of providing affordable housing for the citizenry. They argued that such measure if applied, would not only help greatly in abridging the ...

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LIRS shuts down 11 hotels over N354.75m tax evasion in Lagos

tax evasion in lagos

As part of the war against tax evasion in Lagos, the Lagos State Internal Revenue Service (LIRS) on Thursday shut 11 hotels, restaurants and event centres over alleged failures to remit their taxes under the Hotel Occupancy and Restaurant Consumption Laws of Lagos State 2009. Mr Seyi Alade, Director, Legal Services of the LIRS, said this after a state-wide tax ...

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Court orders temporary forfeiture of ‘Diezani’s $4.760m property’

$4.760m property

THE Federal High Court in Lagos yesterday ordered the temporary forfeiture of two penthouses valued at $4.760 million, which allegedly belong to former Petroleum Resources Minister Mrs. Diezani Alison-Madueke. The properties are: Penthouse 21, Building 5, Block C, 11th floor (Bella Vista Estate) Banana Island, Ikoyi, and Penthouse 22, Block B (Admiralty Estate) also in Ikoyi, Lagos. Justice Mojisola Olatoregun ...

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