Real Estate News

The Federal Housing Authority (FHA) has announced Umar Gonto as the new acting Managing Director/Chief. His appointment is following the expiration of the term of Prof. Mohammed Al-Amin-led management on May 6. An official from the Ministry of Power, Works and Housing, who pleaded anonymity, said Gonto was appointed to act in line with the Federal Government guidelines on succession ...

An Oyo State High Court sitting in Ibadan, the state capital, under the leadership of Justice Fadeyi on Tuesday summoned officials of the state government to appear before it on May 14, over a land property allegedly belonging to the Association of the Deaf in Ibadan. Newsmen recall that students of Christian Mission for the Deaf, Ibadan, had dragged the ...

A pipeline installation to transport dry gas through the North and South corridors to the West corridor has been approved by the Federal Executive Council at the cost of N2.5billion. The 30-kilometre pipeline installation project, which is operated by Shell and Seplant, has a dollar component of $32million. It is designed to transport dry gas through the corridors and has ...

The Nigerian Army says it legally acquired its landed property in parts of the Federal Capital Territory (FCT) and advised indigenes protesting alleged land grab to channel their complaints to the appropriate quarters. The Chief of Army Staff, Lt.-Gen. Tukur Buratai stated this on Tuesday in reaction to protest by some indigenes, who barricaded the Air Port road, alleging the ...

The Lagos State government has declared its intention to initiate legal action against the land judgment that ceded a vast portion of Agidingbi and its environs to the Akinole family to ensure that the matter is finally put to rest. In a statement issued by the Ministry of Justice yesterday, the government expressed shock to hear that the state allottees ...

The Nigerian Army is planning to construct a Cantonment to be named after President Buhari – Some indigenous people of Abuja had accused Army of grabbing their land. The Army boss, Buratai, however, urged the aggrieved persons to seek redress in court Lieutenant General Tukur Buratai, the Chief of Army Staff (COAS), has said nothing would stop the Army from ...

The police on Tuesday, arraigned a 39-year-old man, Daniel Olalekan in a Badagry Chief Magistrates’ Court for allegedly stealing aluminium windows valued at N200,000. The Olalekan, whose address was not given is charged with theft. The prosecutor, ASP. Clement Okoimose, told the court that the defendant committed the offences on May 3, at about 5:30 p.m. at Police Housing Estate, ...

Bothered by the disruptive impacts of technology on the built sector, practitioners especially, the Association of Estate Agents in Nigeria (AEAN) have been urged to embark on regular training and re-training of members on new innovations that would enhance their business. Technology roles on preconstruction, construction, and post-construction stages as well as real estate transactions had recently revolutionized the industry, ...

From the N18 billion it has raised from the capital market between 2015 and 2019, the Nigerian Mortgage Refinance Company (NMRC) is said to have refinance mortgages originated by its 12-member primary mortgage banks PMBs and three commercial banks, leading to the creation of 900 mortgages. But it remains to be seen where those mortgages so created are being used ...

The Minister of Power, Works and Housing, Babatunde Fashola, has forwarded to the Socio-Economic Rights and Accountability Project (SERAP), names of contractors who allegedly failed to execute projects they collected funds for. SERAP Deputy Director Kolawole Oluwadare confirmed this in a statement yesterday. He quoted Fashola’s letter thus: “Pow Technologies Limited, an Abuja-based company, was in 2014 awarded a contract ...