Real Estate News

Officials of the EFCC on Wednesday sealed the offices of TFG Real Estate, the Nigerian agent of The First Group, situated on the seventh-floor of the Bank of Industry building in the Central Business District, Abuja. The anti-graft operatives had in May 2016 raided the firm’s offices as part of investigations into the alleged property fraud. The Dubai-based real estate ...

A delegation from the Headquarters of the African Development Bank (AfDB) in Abidjan, led by Mr. Mwila Aeron Katambula, the Bank’s Transport Specialist, is currently in Abia State for the final lap of talks between Abia State Government and AfDB on some developmental projects of interest to the bank in Abia State. The state Governor, Dr. Okezie Ikpeazu, who received ...

Stakeholders in the real estate sector have called for greater investment in retail malls. The call is coming against the backdrop of a report that showed that demand for space for retail malls in the country has increased by 905 per cent in the last 10 years. The call, according to them, is necessary considering that the sector has had ...

Nigerians are eager to know how a Nigerian Army General saved the sum of $1.5 million from his earnings as a soldier that he purportedly used to buy expensive real estate property in the United Arab Emirates. Among the many Nigerians are the Nigerian civil society and the Coalition against Corrupt Leaders (CACOL).  A petition was sent on Wednesday to the Economic ...

A two-storey building under construction at Ndiagu in Idemili North Local Government Area of Anambra has collapsed, killing three artisans. The News Agency of Nigeria (NAN) reports that the incident occurred at about 8a.m. on Wednesday. A witness told NAN that three other persons, who sustained severe injuries, were taken to a nearby hospital for treatment. Those that rushed to ...

The Nigerian Mortgage Refinancing Company on Tuesday in Abuja said it had so far injected the sum of N6 billion to the mortgage market in order to reduce the housing deficit in the country. The Managing Director of NMRC, Prof. Charles Inyangete, gave the figure while speaking during the signing of a Memorandum of Understanding between the agency and the ...

The Economic and Financial Crimes Commission (EFCC) yesterday sealed the offices of The First Group Company, a real estate firm located on the seventh-floor of the Bank of Industry building in the Central Business District, Abuja. Those familiar with the matter said the EFCC moved against the company following complaints that it was engaged in a phony real estate scam ...

BCL Limited has sued the Nigerian Air Force (NAF) at the Federal High Court, Lagos, for N1billion over its continued occupation of a property at No. 13B Reeves Road, Ikoyi, Lagos, belonging to BCL Limited. Aside from NAF, other defendants in the suit include the Chief of Air Staff, NAF Investment Limited, Commander 107 NAF Camp, Victoria Island Lagos, Federal ...

There are fresh increases in the prices of cement-based products effected recently by the manufacturers. The prices of cement were recently reduced by Dangote Cement Plc, a leading producer of cement in the country by approximately 40 per cent. The move by the market leader slashed cement prices from about N2, 000 or N1, 850 to a price as low ...

Nigeria Mortgage Refinance Company PLC (NMRC) has signed a Memorandum of Understanding (MoU) FMDQ OTC Securities Exchange (FMDQ) to deploy intermediate long-term fund from the capital market for the provision of affordable housing. The signing ceremony of the MoU was held in Abuja at the office of the NMRC. Speaking during the event, the Managing Director/CEO NMRC, Prof. Inyangete Onadele ...