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Tag Archives: Property

Investors holding back on the Nigerian property market despite opportunities

Investors holding back on the Nigerian property market despite opportunities

Despite the huge opportunities and market potential, investors are still holding back on investment in the Nigerian property market. Analysts cited the slowdown in the economy and the significant decline in consumer purchasing power as a major concern. They believed that investment in the market, has also been impacted heavily by government’s anti-corruption fight which has been enhanced by the ...

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Magodo fast becoming a destination of choice for investors and renters

Magodo

“Although, Magodo, one of the highbrow estates in Lagos has recently been making headlines for the wrong reasons, property experts and developers believe the location is fast becoming a destination of choice for investors and renters.”- The Guardian The high demand for property and renters within the estate, they said, was indicative that the estate is inhabited by upward mobile individuals, ...

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Dieziani loses another set of properties to the Federal Government

Dieziani loses another set of properties to the Federal Government

“There is no end yet to the season of forfeiture as a Federal High Court, sitting in Lagos, south west Nigeria, today, ordered temporary forfeiture of four buildings scattered across Lagos, River States, and Abuja, valued at about N2. 611, 592, 199 billion, linked to the former Minister of Petroleum, Diezani Allison-Madueke and her associates to the Federal Government of ...

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Family battles AMCON and Ecobank over mortgaged property

Family battles AMCON, Ecobank over mortgaged property

The Guardian reports that Legal battle over the soul of a landed property situate at 5, Oduduwa Street, GRA Ikeja, Lagos is raging between administrators of the estate of Late Samuel Iyiola Omotoso, and the Asset Management Corporation of Nigeria (AMCON), Ecobank, and Registrar of Titles, Lagos State. The bone of contention in the suit filed at Ikeja division of ...

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FCT Minister inaugurates 300 affordable housing units

affordable housing units

The Nation reports that Minister of the Federal Capital Territory (FCT) Malam Muhammad Bello has commissioned 300 affordable housing units and laid the foundation for the development of another 300 in Kaba District, Abuja. The Minister said the FCT Administration embarked on the project to give teeth to President Muhammadu Buhari’s efforts in tackling housing deficits in the country and ...

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Jealous lover arraigned for damaging hotel’s property

Court remands land agent for alleged land fraud

“A Bureau de Change (BDC) operator, Ahmed Ibrahim, was yesterday arraigned before an  Ikeja Magistrates’ Court  for allegedly damaging an hotel’s property while searching for his girlfriend and her lover.”- The Nation Ibrahim, 35, of Bolaji Street, Agege, was arraigned before Mrs G.O. Anifowoshe, on a two-count charge of wilful damage of property and breach of the peace. Prosecuting Inspector ...

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The Act of Abandonment in Real Estate

Abandonment in real estate

Abandonment in real estate can be referred to as the act of surrendering a claim to, or interest in, a particular asset. In some other circles, it is believed to be the permitted withdrawal from a forward contract that is made for the purchase of deliverable securities, and also the act of allowing an option to expire unexercised. Legal Dictionary ...

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Bad Market – Episode 7

Bad market - episode 6

Timi made certain that I didn’t leave his room without instilling enough fear in me that would ensure that I didn’t say a word of what I discovered when I stumbled into his room. I was literally thrown out of his room afterwards. ::::::::::::::Read Previous episode here:::::::::::: As I stepped into the lobby, his threats played out in my head ...

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Court orders forfeiture of Diezani ‘s $37.5m Banana Island property

Banana Island property

According to The NATION, Federal High Court in Lagos has ordered the interim forfeiture of a Banana Island property, Lagos bought for $37.5m in 2013 by a former Minister of Petroleum Resources, Diezani Alison-Madueke. Justice Chuka Obiozor, a vacation judge, made the order yesterday following an ex parte application by Economic and Financial Crimes Commission (EFCC) counsel Mr. Anselem Ozioko. The EFCC, in documents filed in ...

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A.J. Missri and Company Limited seeks Ambode’s intervention over property

A.J. Missri

The Guardian reports that the Managing Director of a real estate investment company, A.J. Missri and Company Limited, Nze Edozie Okafor, has called for the intervention of Governor Akinwumni Ambode over alleged unlawful acquisition of the company’s landed property at No. 23, Breadfruit Street, Lagos by the State Urban Renewal Agency (LASURA). Nze Okafor told The Guardian that the appeal became ...

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