properties – 9japroperty http://9japroperty.com.ng All you need to know about properties Mon, 10 Oct 2016 10:03:17 +0000 en-US hourly 1 https://wordpress.org/?v=5.4.15 Lagos lists over 100 abandoned properties in Ikoyi, VI http://9japroperty.com.ng/lagos-lists-100-abandoned-properties-ikoyi-vi/?utm_source=rss&utm_medium=rss&utm_campaign=lagos-lists-100-abandoned-properties-ikoyi-vi http://9japroperty.com.ng/lagos-lists-100-abandoned-properties-ikoyi-vi/#respond Mon, 10 Oct 2016 10:03:17 +0000 http://9japroperty.com.ng/?p=5084 The Lagos State government has compiled a list of more than 100 abandoned properties in Ikoyi and Victoria Island and directed owners of the buildings/structures to take physical possession of such properties to ensure they are completed, restored and fit for habitation within 90 days or face prosecution. The directive is contained in a document, […]

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The Lagos State government has compiled a list of more than 100 abandoned properties in Ikoyi and Victoria Island and directed owners of the buildings/structures to take physical possession of such properties to ensure they are completed, restored and fit for habitation within 90 days or face prosecution. The directive is contained in a document, sighted by Vanguard, signed by Mr. Tunji Bello, Secretary to the State Government (SSG). He noted that squatters, miscreants and criminal elements have taken over the abandoned properties where they perpetrate criminal activities thus depriving resident of these areas of security, peace and serenity hitherto identified with the areas. In the accompanying statement, the SSG stated: “The attention of the Lagos State Government has been drawn to the growing number of abandoned buildings/structures in Ikoyi and Victoria Island which has constituted environmental hazard and posed serious security threat to lives and property, in contravention of Lagos State Laws. “In order to get rid of squatters, miscreants and criminal elements who sought refuge in abandoned structures out of Ikoyi and Victoria Island, the Lagos State Government has identified and compiled the under listed properties for necessary remedial action by Owners/Developers. This step became necessary in view of the fact that the activities of these criminals are depriving these areas and the good citizens of security, peace and serenity which is hitherto one of the characteristics of the area. In view of the foregoing, Owners /Developers of such and similar buildings/structures are given 90 days’ notice from the date of this publication to take physical possession to ensure that such properties are completed, restored and fit for habitation. Please note that failure to comply would result in enforcement of the relevant provision of the law.” Recall that the Lagos State government set up a Task Force on Clean-up of Ikoyi, Lekki and Victoria Island with a view to enforcing the original master plan of the areas. Bello, who is also the chairman of the task force, disclosed that the state government “has already identified such buildings and will communicate with the owners to dislodge the illegal occupants before taking measures which may include revocation of the Certificate of Occupancy of such structures.” He said the task force would not hesitate “to seek the invocation of the provision of the State Parks and Garden Law 2011 as it affects landscaping and beautification of such properties.” Under the law, owners of structures harbouring squatters or those who converted their structures to hotels and provided shelters to street traders who commit crimes under the cover of darkness are liable to prosecution that may attract a jail term of six months imprisonment or a fine of N250,000 or both. Major streets where abandoned properties are located in Victoria Island include Ahmadu Bello Way, Adetokunbo Ademola Street, Bishop Aboyade Cole Street, Samuel Manuwa Street, Sanusi Fafunwa Street, Karimu Kotun Street, Tiamiyu Savage Street, Ligali Ayorinde Avenue, Water Corporation Close, Ozumba Mbadiwe Avenue, Adeola Hopewell Road, Adeyemo Alakija, Idowu Martins, Kofo Abayomi, Saka Tinubu, Adeola Odeku and Akin Adesola Street. In Ikoyi, the properties are mostly located on Awolowo Road, Keffi Street, Falomo Roundabout, Norman Williams, Raymond Njoku Road, Alexander Avenue, Lugard Avenue, Club Road, First and Second Avenues, Federal Secretariat Road, Bank Road, Osborne Road, Glover Road, , Onikoyi Crescent, Cameroon Road, Bourdillon Road and Oyinkan Abayomi Drive.

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Lagos State Properties Protection Law – A New Era For Property Transactions http://9japroperty.com.ng/lagos-state-properties-protection-law-new-era-property-transactions/?utm_source=rss&utm_medium=rss&utm_campaign=lagos-state-properties-protection-law-new-era-property-transactions http://9japroperty.com.ng/lagos-state-properties-protection-law-new-era-property-transactions/#respond Thu, 29 Sep 2016 11:25:58 +0000 http://9japroperty.com.ng/?p=5042 Generally, the Land Use Act (1978) specifically vests the ownership of all lands in Nigeria in the Governor of the respective states. The same Act also requires that any person who wants to alienate or transfer his land must obtain Governor’s consent to make the transaction valid in accordance with the Land Use Act. Notwithstanding […]

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Generally, the Land Use Act (1978) specifically vests the ownership of all lands in Nigeria in the Governor of the respective states. The same Act also requires that any person who wants to alienate or transfer his land must obtain Governor’s consent to make the transaction valid in accordance with the Land Use Act. Notwithstanding the foregoing, the purchase or transfer of property in Lagos state has been greatly hindered by the activities of Land grabbers, otherwise known as the Omo Onile.

The practice of land grabbing entails the use of force, threats or violence to take possession or prevent a purchaser from acquiring legitimate interest and possession of property unless certain conditions are fulfilled. The said conditions are usually in the form of excessive levies or fines. Failure to adhere to the demands of the land grabbers in most cases result to the destruction any development on the land, or prevention of the land owner from taking possession.

In a bid to curb the unscrupulous activities of the Land grabbers in Lagos State, the Lagos State government recently signed into Law, a Law to prohibit forceful entry and illegal occupation of landed properties, as well as violent and fraudulent conducts in relation to landed properties in Lagos State. This new Law, known as the Lagos State Property Protection Law 2016 protects the proprietary rights of Land and Property owners in Lagos State and also criminalizes actions of forceful and unlawful entry or occupation of premises. Some of the key provisions the widely applauded Law are provided below:

Section 2 of the Law prohibits the use of force, threats or self-help to take over any landed property, or engage in any act inconsistent with the proprietary right of the owner. Additionally, persons who have used force to take over the property of another and remains in possession after the commencement of the Law shall be held to have committed an offence and liable to ten (10) years imprisonment.

Under Section 3 any person who without lawful authority, for himself or another, uses or threatens violence for the purpose of securing entry into any landed property commits an offence, notwithstanding whether the person using or threatening the use of force has a right over that property. Any offender under this section is liable to imprisonment for a term of 10 (ten) years.

Section 4 provides that any person who occupies a property as an encroacher and fails to leave the property upon a request by the owner, commits an offence punishable upon conviction with a fine not exceeding five million Naira or 5 (five) years’ imprisonment, or both. More importantly, Section 8 criminalizes any offer by any person to sell a property for which he has no lawful title or the requisite authority to sell. The same section also prohibits the sale or offer for sale of land that has been previously sold, without a court judgment repudiating the earlier sale. Any person found guilty of this offence is liable to pay a fine prescribed under the Law, or imprisonment or both, and the property resold to another shall revert to the lawful owner. Additionally, this section prohibits the sale of family land without the consent of the family head and other accredited members of the family; and the sale of government land or property without the consent or authority of the State.

Whilst the above represents only a fraction of the Law, it is important to note that this Law applies to the whole of Lagos State, unlike most Lagos State Property Laws limited to specific parts of the State.

The Lagos State Property Protection Law has been widely applauded as it has the potential to boost property transactions in Lagos State. However, it is pertinent to state that the essence of this Law will be defeated if the Lagos state government fails to proactively enforce it. An example that comes to mind is the Lagos Tenancy Law of 2011 which, amongst other things, prohibits landlords from demanding from a new or sitting tenant rent in excess of one year. Till date, the said Tenancy Law is openly and widely flouted and there has not been any reported case of prosecution and conviction of offenders under the Law. That said, in view of the promising nature of this Law, efforts must be made to ensure that the Law is enforced, the offenders are duly prosecuted, as this will greatly encourage real estate investment in Nigeria.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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EFCC traces Lagos, Bayelsa properties to Jonathan’s ex-aide, Dudafa http://9japroperty.com.ng/efcc-traces-lagos-bayelsa-properties-jonathans-ex-aide-dudafa/?utm_source=rss&utm_medium=rss&utm_campaign=efcc-traces-lagos-bayelsa-properties-jonathans-ex-aide-dudafa http://9japroperty.com.ng/efcc-traces-lagos-bayelsa-properties-jonathans-ex-aide-dudafa/#respond Mon, 19 Sep 2016 10:58:39 +0000 http://9japroperty.com.ng/?p=4955   The Economic and Financial Crimes Commission has traced properties worth N1.5bn to a former Special Adviser to ex-President Goodluck Jonathan on Domestic Affairs, Waripamowei Dudafa. Our correspondent learnt on Sunday that as part of investigations into an alleged case of money laundering, the EFCC discovered some properties, which Dudafa had not been able to […]

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The Economic and Financial Crimes Commission has traced properties worth N1.5bn to a former Special Adviser to ex-President Goodluck Jonathan on Domestic Affairs, Waripamowei Dudafa.

Our correspondent learnt on Sunday that as part of investigations into an alleged case of money laundering, the EFCC discovered some properties, which Dudafa had not been able to explain where he got the money to buy them.

The commission discovered a mansion in the Agungi area of the Lekki-Epe Expressway, allegedly belonging to Dudafa, said to be worth over N300m.

 

The anti-graft agency also traced a plot of land around the Chevron Estate, off the Lekki-Epe Expressway and a twin duplex within the same area said to belong to Dudafa.

Apart from the Lagos properties, an edifice in Yenagoa, the Bayelsa State capital, was also traced to Dudafa.

A source in the EFCC said, “When we are probing a person, we usually investigate his lifestyle and see if he or she is living above his means. Since Dudafa has already been arraigned for money laundering, we decided to launch further investigations into his lifestyle.

“We found a white mansion in the Agungi area of Lagos, very close to Lekki. He has about four exotic cars in the compound. We did not seal it off because people live there. So, we just placed a sticker on the fence to indicate that the property is a subject of investigation.

“Dudafa also has a twin duplex around the Chevron Estate. We did not seal it off because he has rented the property out. However, he has a parcel of land around the place, which we have sealed off.

“We have arraigned Dudafa and if he is found guilty, he will forfeit the properties.”

Dudafa first became a subject of EFCC investigation when a former Aide-de-Camp to Jonathan, Col. Ojogbane Adegbe (retd.), told detectives that he handed over N10bn (converted to foreign currency) to Dudafa on the eve of the 2014 Peoples Democratic Party presidential primary in which Jonathan was the sole aspirant.

The money given to Dudafa was allegedly used in bribing PDP delegates.

The money was allegedly diverted by the Office of the National Security Adviser under Col. Sambo Dasuki (retd.) from a Signature Bonus Account in the Central Bank of Nigeria.

The N10bn is believed to have been diverted from oil receipts as follows: $5m (November 14, 2014); $47m (November 27,  2014); €4m (December 3, 2014) and €1.6m (December 24, 2014).

While Adegbe was arrested but later released, Dudafa was said to have fled to either Dubai or a Caribbean country where he stayed for several months.

Dudafa was finally arrested by operatives of the Department of State Services upon arrival at the Murtala Muhammed International Airport, Lagos, on April 18, 2016.

The anti-graft agency said the former presidential aide returned N900m to the Federal Government.

Dudafa is also believed to be a front for Dame Patience Jonathan, the wife of the former President.

Patience had said in a sworn affidavit two weeks ago that she gave Dudafa some money to help her open an account at Skye Bank.

She, however, stated that Dudafa used the money to open five accounts of which only one bore her name while the other four were opened in the names of Pluto Property and Investment Company Limited; Seagate Property Development & Investment Co. Limited; Trans Ocean Property and Investment Company Limited and Avalon Global Property Development Company Limited.

The current balance of the four accounts is $15,591,700 while the money in Patience’s personal account stands at $5m.

The four companies last week pleaded guilty to money laundering.

Patience risks losing the $15m to the government.

One Sammie Somiari, who deposed to an affidavit on behalf of Patience, claimed that the former President’s wife was the rightful owner of the $15m and that Dudafa helped her to open the bank accounts in 2010.

The deponent claimed that Patience was the sole signatory to the accounts.

 PUNCH.       

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The Glut Of Over-priced Properties In The Economy http://9japroperty.com.ng/glut-priced-properties-economy/?utm_source=rss&utm_medium=rss&utm_campaign=glut-priced-properties-economy http://9japroperty.com.ng/glut-priced-properties-economy/#respond Mon, 15 Aug 2016 09:46:52 +0000 http://9japroperty.com.ng/?p=4838 In this report GEORGE OKOJIE takes a look at the glut of unaffordable properties in the nation’s housing sector and way out The fact that no economy can develop without a successful private sector has made the lingering glut in the nation’s property market more worrisome. The bleak outlook of the housing sector has further […]

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In this report GEORGE OKOJIE takes a look at the glut of unaffordable properties in the nation’s housing sector and way out

The fact that no economy can develop without a successful private sector has made the lingering glut in the nation’s property market more worrisome. The bleak outlook of the housing sector has further threatened the survival of the businesses of housing developers and realtors in the country.

The nation’s two distinct arms of private sector  are in business either to make money by adding value to the country’s economy or to make money at the expense of the society have been churning out housing units in different parts of the country.

Unfortunately, as country’s economic woes become more biting, they have raised the alarm that they have no buyers, thus making the supply of unsold homes in the country to increase astronomically. The present economic reality and parameters betray a slowdown and a preponderance of government’s recurrent expenditure. Again, construction costs have gone up and had since hardened rentals in the housing industry. This trend experts say has impacted negatively on house prices and rentals, making it impossible for many people to buy an apartment.

Available sales data collated from housing developers and realtors showed that most of the enquiries they receive continually come from first-time buyers, who hardly return back to the professionals after making enquiries. Other informed stakeholders in the sector who painted  a gloomy picture about the scenario said there are no signs of turnaround in housing sector as there are hardly any sales in all strata of the market.

Thus, Asset Management Corporation of Nigeria’s (AMCON), recent resolve to lease out properties seized from companies that failed to repay loans tacitly showed the extent of excruciating effects of cash crunch in the nation’s economy.

According to the chief executive officer, AMCON, Mr. Ahmed Kuru, the corporation is considering the option of introducing real-estate investment scheme by the end of the year to raise money to meet its bond repayments and might sell the properties when the economy improves so that the assets can attract fair value. It is not limited to houses seized from AMCON. Most housing units built by developers in urban cities in the country are in limbo with trillions of naira tied down.

For instance in highbrow areas in Lagos like Ikoyi, Victoria Island and Lekki which over the years has been the toast of the super-rich and choice areas for expatriates most properties there now carry the “to-let” or “for sale” tag and the tag has been on them for months or years with one asking questions about the properties.

Beyond Lagos, Abuja the nation’s Capital Territory is not exempted from the glut. Although it is often described as one of the fastest-growing cities in the world, most of the houses and estates in high-brow areas like Asokoro, Gwarinpa, Maitama, , Wuse II, Utako, Katampe districts are unoccupied years after completion as a result of the high cost of renting or leasing.

LEADERSHIP Sunday checks showed that houses and estates in Gaduwa, Apo, Dei-Dei, Gwarimpa, Lugbe, Kubwa, Gudu, Life Camp, are also in economic limbo as a result of no buyers or renters.

Whether the buildings were built or owned by public officials, politicians and wealthy businessmen who embark on housing construction in order to avoid anti-graft agencies’ searchlights, the fact remains that they could not sell or lease the properties because of the biting Nigerian economy.

Amid the ravaging economic recession in the country, LEADERSHIP Sunday checks in Lagos reveal that rental value or outright sales of block of flats, detached duplexes and town houses are on the high side, as a three-bedroom luxury serviced apartment on Banana Island costs $60,000 per annum; a detached duplex goes for $75,000 per annum, a five-bedroom, with a single room boy’s quarter in Victoria Garden City (VGC) goes for N70 million.

The same applies in Victoria Island where luxury flats go for between $40,000 and $50,000 per annum. Our correspondent learnt that rent for a four-bedroom bungalow in Wuse, Maitama, Asokoro, Garki and Utako goes between N3million and N6million a year, while those who long to live in the same types of apartments in satellite towns like Karu, Gwarinpa, Kubwa and Lugbe pay between N800,000 and N1.5m for the apartments.

The prevailing economic hardship has also seen rent of a two-bed apartment in areas such as Maitama, Asokoro, Wuse II going between N2.5 million and N3 million . While One-bed room apartment costs between N1million and N1.5 million and three-bedroom apartments cost between N3 million and N6 million per annum depending on the finishing, location and security of the area.

Not amused by the bleakness portended by the prevailing situation, the chief executive officer, FESADEB Communications Limited, Festus Adebayo said most of those who built the estates not occupied in Abuja particularly are looking for buyers, but cannot get buyers.

Adebayo reasoned that, ‘‘they cannot get buyers apparently because the houses are not affordable; obviously, the purchasing power has gone down. When a two-bedroom apartment is put at N14 million, how can it be affordable, and even when you are asked to pay 20 per cent or 30 per cent of the amount, it is still not easy for many people to afford.

“I think the government should do something about the cost of building materials, which is affecting the cost of building, the cost of acquiring land and the cost of processing land title documents should also be checked. I can tell you that if government does that, the cost placed on housing in Abuja will definitely be forced down. I am seeing serious danger in Abuja.

“The danger is this; these too many houses that are standing without buyers due to lack of purchasing power, the prices of houses may crash. According to simple law of economics, when the supply is high and demand is low, prices will be forced to crash. Some of the owners of those estates that are not being occupied got the money from somewhere.

“I must be very candid, it is not all of them that are public treasury looters, and some got the money from banks, so they cannot continue to hold the banks’ money, considering the high interest rate while the houses are standing.

“So, I foresee prices coming down. Another way of handling the issue of those idle estates is for governments to begin to impose taxes on the properties, right from the time you are getting approval for your building, there should be clauses indicating what the tax will be for buildings that exceed a specific period of time without being occupied.”

On ways out of the woods Adebayo said, ‘‘Take, for instance, when you have a law stating that a house must be occupied within a period of six months or thereabout after being completed or there will be tax imposed on it. I think that will prevent the developers from putting too exorbitant prices on their developed properties. So, imposition of taxes is one veritable instrument that any serious-minded government can use to regulate the kind of situation we have in Abuja and few other cities in Nigeria.”

For Mr Shola Fatoki, a frontline estate surveyors and valuer the current property glut is an indication of the downturn in the economy. He explained that the effects of the economic meltdown manifests in the movement of some residents from the upscale areas to places such as Gbagada and Ilupeju, while the former residents of those middle class abode have since relocated to Ogba, Agege and Mowe/Ibafo , a suburb in Ogun State.

Fatoki said the best way out of the woods is for the government to tackle issues relating to land acquisition, mortgage, land speculators, family land holding, funding and cost of labour. He argued that Nigerians would always find it difficult to rent available houses due to paucity of funds and, by extension, would find it difficult to own their own houses.

Fatoki identified high cost of construction and the lack of patronage of local building materials as some of the reasons some upscale properties have been without tenants, affirming that as far as incomes do not improve, there would always be houses without tenants. He noted that the high cost of acquiring titles in Lagos and Ogun states remains a limiting factor to home ownership in these states.

Some prospective home buyers who spoke with LEADERSHIP Sunday are optimistic that if the glut persists there is bound to be a crash in price of the properties, just as they called for an overhaul of the country’s mortgage system to phase out the idea of paying cash out rightly to purchase property.

Simon Adele , a pharmacist noted that houses in Lagos, Abuja and other major urban cities are over-priced, thus encouraging people to own property outside the country like in Dubai where return on the investment are guaranteed.

Adele a reasoned that it would be difficult for an average Nigerian making  between N50,000 and N100,000 to moot the idea of purchasing the properties built for the rich.

He lamented that, “ The other major constraint is that builders only build for the rich, not the poor. The concept is not to be around poor people. These environs are exclusive. Unfortunately the rich they are building for are no-longer here in Nigeria they are hiding the looted public funds in investment outside the country. So who is going to buy?

“Let us face reality, Bannana Island in Lagos where people are paying fortunes to buy land is nothing compared to Mahattan in prices. That is why those living there are expatriates, oil workers, senators, governors, high class bankers, actors, embassy staff, foreigner companies, Lebanese, and Asian. Unless there is intervention by the government and relevant stakeholders through injection of funds into housing development and other construction activities to boost the economy and prosperity of the people, 2016 property market will be as dull as that of the previous years.”

Mr Bode Adediji, chief executive officer of Bode Adediji and Co, a firm of real estate practitioners and consultants, is skeptical on the possibility of the market rebounding soon. According to Adediji, the property market thrives on the fortunes and misfortunes of other sectors of the economy, saying that until there is an overall turn around in the economy, the real estate market will exhibit features of worst recession ever experienced in the past decades.

“In any economy, a period of mass disengagement of staff is always followed by a prolonged property crisis. Those laid off will default in rent payments. The cost of developing houses and property will escalate while at the same time the purchasing power of the populace may crash to the lowest ebb in recent history,” Adediji said.

Adediji argued that house values and rentals is bound to continue to crash in some regions while the same factor will push up the demand and prices in destination locations. As bad as the situation seems to be, the dark cloud in the nation’s housing sector may eventually have a silver lining if assurances from minister of Power, Works and Housing, Mr. Babatunde Fashola is anything to rely upon. While unveiling the federal government’s plans to deliver mass housing for Nigerians, Fashola said plans are afoot to build 360 houses in three states through public private partnership (PPP) arrangement in the first phase, develop “rent to own” housing scheme for those who cannot afford mortgage and incorporate a new housing model into the National Building Code.”

Fashola argued that there is urgent need for the country to increase funds allocated for housing development, lamenting that the N36 billion appropriated for housing sector in the 2016 budget is grossly inadequate.

“We look at the N36 billion as the fund with which we will build the concept and if the concept is successful, then we can roll it out more massively because it is not going to solve our housing problems. Affordability lies at the heart of what we are doing,” he stated.

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Lagos to seize properties used by kidnappers http://9japroperty.com.ng/lagos-seize-properties-used-kidnappers/?utm_source=rss&utm_medium=rss&utm_campaign=lagos-seize-properties-used-kidnappers http://9japroperty.com.ng/lagos-seize-properties-used-kidnappers/#respond Wed, 10 Aug 2016 10:53:57 +0000 http://9japroperty.com.ng/?p=4825   THE Lagos State Government yesterday warned that it will not hesitate to confiscate houses and hotels used as hideouts for kidnapping and other criminal activities. Commissioner of Police Mr. Fatai Owoseni, who read the riot act while briefing reporters after the State Security Council meeting presided over by Governor Akinwunmi Ambode, said the government […]

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THE Lagos State Government yesterday warned that it will not hesitate to confiscate houses and hotels used as hideouts for kidnapping and other criminal activities.

Commissioner of Police Mr. Fatai Owoseni, who read the riot act while briefing reporters after the State Security Council meeting presided over by Governor Akinwunmi Ambode, said the government was poised to eradicate the menace of kidnapping and militancy.

He said: “The take away for today after the Security Council Meeting is for us to look at all the strategies that we have been employing in tackling the security challenges that we had in the state and to further strategise with the view to sustaining those measures that would put all the criminal elements in check.

“The Security Council has come out to let our people know emphatically that the state is more poised at tackling all the criminal challenges and making sure that all the criminal elements that are going about will not be allowed any free reign; they will not be given freedom of space to practice any of their criminal acts.

“There is no hiding place for criminal elements again and as we get them, they would be made to face the full wrath of the law.

 

“In addition to that, the Council resolved that any structure or any places of hiding that criminal elements are using, the state will not hesitate, in the interest of the public, to take over those safe havens, structures or houses,” he said.

Owoseni warned commercial motorcyclists, popularly known as Okada operating on restricted routes, to obey the state’s traffic laws, saying enforcement of the laws is still ongoing.

Owoseni advised criminal elements to turn a new leaf and get themselves meaningfully engaged.

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EFCC Seizes Fayose’s Lagos, Abuja Properties http://9japroperty.com.ng/efcc-seizes-fayoses-lagos-abuja-properties/?utm_source=rss&utm_medium=rss&utm_campaign=efcc-seizes-fayoses-lagos-abuja-properties http://9japroperty.com.ng/efcc-seizes-fayoses-lagos-abuja-properties/#respond Mon, 18 Jul 2016 13:59:37 +0000 http://9japroperty.com.ng/?p=4718   The Economic and Financial Crimes Commission has seized some properties said to belong to Governor Ayodele Fayose of Ekiti State, Punch newspapers reports. It was learnt that the properties located in the highbrow areas of Lagos and Abuja were seized as part of investigations into the N1.219bn the governor allegedly received from the Office […]

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The Economic and Financial Crimes Commission has seized some properties said to belong to Governor Ayodele Fayose of Ekiti State, Punch newspapers reports.

It was learnt that the properties located in the highbrow areas of Lagos and Abuja were seized as part of investigations into the N1.219bn the governor allegedly received from the Office of the National Security Adviser when Col. Sambo Dasuki (rtd) held sway as well as some kickbacks he (Fayose) allegedly received from the Ekiti State Government contractors.

According to investigators, the seized houses belonging to Fayose were allegedly purchased with stolen funds and the EFCC invoked the Assets Forfeiture clause to seize the properties in line with Sections 28 and 34 of the EFCC (Establishment Act) 2004 and Section 13(1) of the Federal High Court Act, 2004.

The seizure came less than a month after the governor’s three Zenith Bank accounts were frozen by the anti-graft agency.

A visit to two of the properties on 32 Yedseram Street and 44 Osun River Crescent, Maitama, Abuja, observed the inscriptions ‘EFCC, Keep Off’ on the fences.

According to court documents filed by the EFCC, the property on Osun River Crescent was bought by Fayose in the name of his London-based sister, Mrs. Moji Ladeji.

The governor reportedly pulled down the structure of one of the Abuja properties and started building a new one.

The two properties, which are uncompleted buildings, were said to be worth over N470m.

According to Punch, the properties in Lagos were four duplexes located at Plot 100 Tiamiyu Savage Street, Victoria Island. The four duplexes cost $1.3m (N364m) each.

They were allegedly bought through a company, JJ Technical.

The EFCC had in a 10-paragraph counter-affidavit deposed to by Tosin Owobo accused Fayose of using the proceeds of crime to purchase properties.

The affidavit read in part, “Apart from fraudulently retaining the sum of N1, 219,490,000 being part of the N4, 745,000,000 stolen from the treasury of the Federal Government through the Office of the National Security Adviser, the applicant (Fayose) has also received gratification in form of kickbacks from various contractors with the Ekiti State Government such as Samchese Nigeria Ltd, Tender Branch Concept Nig. Ltd, Hoff Concept Ltd and Calibre Consulting Ltd.

“The applicant (Fayose) received these kickbacks and gratification through Still Earth Ltd and Signachorr Nigeria Limited. In turn, the applicant (Fayose) instructed the Still Earth Ltd and Signachoor Nigeria Limited to use the funds to acquire properties for him.

“In complying with the applicant’s instruction, Still Earth Limited and Signachoor Nigeria Limited acquired properties on behalf of the applicant (Fayose) in the name of a company known as J.J Technical Services Limited belonging to the applicant (Fayose) and his wife (Feyisetan).

“That the applicant (Fayose) also used the name of one Mrs. Moji Ladeji (the applicant’s sister) to acquire a property situated at 44, Osun Crescent, Maitama Abuja, from the proceeds of the alleged offences of receiving gratification and kickbacks.”

In his reaction, however, Fayose said all properties linked to him were not bought with stolen funds.

In a statement by his Special Assistant on Public Communications and New Media, Lere Olayinka, the governor said any property that might be linked to him or his company was “bought legitimately and his properties were duly declared in his assets declaration form and sources of such funds were not illicit.”

He said since the money he got for his election was from legitimate sources and not from the ONSA, “how the money was spent remained his own business and not that of anyone.”

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Arms Procurement Fraud – Properties Recovered http://9japroperty.com.ng/arms-procurement-fraud-properties-recovered/?utm_source=rss&utm_medium=rss&utm_campaign=arms-procurement-fraud-properties-recovered http://9japroperty.com.ng/arms-procurement-fraud-properties-recovered/#respond Fri, 15 Jul 2016 09:15:54 +0000 http://9japroperty.com.ng/?p=4715 EFCC INVESTIGATING OF THE NIGERIAN AIRFORCE Renovation & Equipment of Healthcare Facilities at Adeniyi Jones, Ikeja Lagos. N400M acquired March 6-Aprill 30, 2014. Property of Sinari Daranjiro, Victoria Island Lagos cost – N1.5B. Property at River Street, Wuse II Abuja cost – N500M. Property at Sait Lake Street, Maitama, Abuja cost  – N440M. Lake Chad […]

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EFCC INVESTIGATING OF THE NIGERIAN AIRFORCE

Renovation & Equipment of Healthcare Facilities at Adeniyi Jones, Ikeja Lagos.

N400M acquired March 6-Aprill 30, 2014.

Property of Sinari Daranjiro, Victoria Island Lagos cost – N1.5B.

Property at River Street, Wuse II Abuja cost – N500M.

Property at Sait Lake Street, Maitama, Abuja cost  – N440M.

Lake Chad Street, Maitama, Abuja cost – N240M.

Property at Bourdilon, Ikoyi, Lagos cost – N900M.

Cappadol mall, Adetokunbo Ademola Street, Wuse II Abuja cost – N750M.

Property at Agobogba Street Parkview, Ikoyi  lagos cost –  N1.7B.

Property at Agadez Street, off Aminu Kano Cresent, Abuja cost – N720M.

Property at Tenterden Grove and Shirehall Park, London, UK cost

N600M acquired July 17 – September 16, 2014.

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Dubai properties: Civil society groups demand Buratai’s sacking http://9japroperty.com.ng/4667-2/?utm_source=rss&utm_medium=rss&utm_campaign=4667-2 http://9japroperty.com.ng/4667-2/#respond Wed, 29 Jun 2016 09:35:22 +0000 http://9japroperty.com.ng/?p=4667 The Conference of Nigerian Civil Rights Activists, on Tuesday, demanded the immediate removal of the Chief of Army Staff, Lt.-Gen. Tukur Buratai, over his ownership of two properties in Dubai, the commercial nerve centre of the United Arab Emirates. The CNCRA stated this in a statement by its Convener, Mr. Ifeanyi Odili, in Abuja. It […]

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The Conference of Nigerian Civil Rights Activists, on Tuesday, demanded the immediate removal of the Chief of Army Staff, Lt.-Gen. Tukur Buratai, over his ownership of two properties in Dubai, the commercial nerve centre of the United Arab Emirates.

The CNCRA stated this in a statement by its Convener, Mr. Ifeanyi Odili, in Abuja.

It explained that the continued retention of Buratai in his position by President Muhammadu Buhari would rubbish the current anti-corruption crusade of the incumbent administration.

The group said Buhari should relieve the COAS of his position “as he is a square peg in a round hole.”

The statement stated, “The recent revelation of the procurement of properties in Dubai by the COAS as published by SaharaReporter on June 25, 2016, which was subsequently denied by the Army spokesman, is a dent on the integrity of the Buhari’s administration.

“The Buhari administration has been showcasing anti-graft posture and the massacre of hundreds of Nigerians in Zaria is in contrast to democratic ethos and norms.

“According to SaharaReporters, Nigeria’s Chief of Army Staff, Lt.-Gen. Tukur Buratai, and his two wives are joint owners of Dubai properties worth of $1.5m that was paid for in one transaction.

“The report indicated that the money for the purchase of the property might have come from a vehicle contract scam while Mr. Buratai was the Director of Procurement at the Army HQ.

“The allegation that General Buratai might have pilfered funds meant for the purchase of military vehicles has sparked outrage among soldiers and officers, especially those from the North-East of the country.”

The group asked Buhari to end indiscipline in the military through a process of ending impunity by its officers and men.

It said, “Discipline and preparedness of military officers and men should be a topmost priority in the system.  It must be strictly adhered to and the primary purpose of the Nigerian military, which is to defend the nation from external aggression.

“The realisation of this function primarily entails the preservation of the territory, people, culture and the national security as enshrined in Nigeria’s constitution of 1999.

“A democratic society requires a citizen army and the deviants; sadists and thugs within the armed forces should be identified, penalised and flushed out.”

The group asked the military authorities to promptly investigate complaints of rights violations instead of unnecessary denials in the face of facts.

It said, “It is therefore sad to note that Buratai, who is conversant with the above facts, negates the spirit of military profession and embarked on killing of harmless civilians in Zaria between December 12 and 14, 2015.

“Drawing from the above, the CNCRA called on the Federal Government to, as a matter of urgency, relieve Buratai of his position and commence full scale investigation into the killings as mentioned above.

“It is only if the Economic and Financial Crimes Commission looks into corruption allegation levelled against him (Buratai) that the Buhari administration would want to have us believe in his change mantra and war against corruption and indiscipline in Nigeria.”

Also, a Second Republic lawmaker, Dr. Junaid Mohammed, has challenged Buhari to make good his threat to deal with corrupt people around him.

Mohammed said this in a telephone interview with one of our correspondents on Tuesday.

He noted that in other climes, Buratai would have stepped aside.

Mohammed added, “I want to remind General Buhari of what he said when he returned from the anti-corruption summit in Britain; he said he was going to deal with those people who had houses in Dubai and Abuja.

“First, what he said did not make sense; it was illogical because you can be corrupt and not own houses in Dubai and Abuja.

“Now that his Chief of Army Staff has been found to have properties in Dubai and Abuja, what is he going to do with him? This is my direct challenge to General Buhari.

“General Buratai should step aside for proper investigations to be carried out because his remaining in office will jeopardise investigations, especially at a time the army he heads has come out to defend him.”

Meanwhile, Buratai has described those behind the report of the acquisition of two properties by his family in Dubai as defeated Boko Haram terrorists, who have migrated to the cyberspace to continue their war.

Buratai said the cyberterrorists would be defeated the same way their counterparts on land were defeated by the Nigerian Army under his leadership in the North-East.

The Army chief, who stated this while speaking in Abuja on Tuesday, added that the Army was already developing its cyberwarriors to counter the nefarious intents of the terrorists on the Internet and online media.

He said the Federal Government had already made clarifications on the issue of the properties in Dubai through a statement by the Minister of Defence, Mansur Dan-Ali, on Monday.

The Defence minister had said the report on the properties was an attempt by some persons to distract the leadership of the Armed Forces from the successful prosecution of the heightened campaign against terrorism in the North-East.

Buratai stated that the Army would not be distracted by the antics of those behind the report in its efforts to ensure national security.

He added that the allegation that refurbished equipment was procured in the fight against the insurgents was part of the campaign of calumny masterminded by the cyberterrorists.

He said, “We want to assure them that these terrorists, the Boko Haram terrorists, who have migrated to the cyberspace, we will follow them to that cyberspace, and equally defeat them and clear their doubts.

“We are meeting all the terrorists in the cyberspace. We have defeated them on the battleground. We are developing our own cyber-warriors and we will defeat them as we have done in the North-East.

“The issue of the refurbished equipment is still part of campaign of calumny. I refer you to the theatre commander. We are doing internal audit, they know my position. We will continue to do that.”

The Army Chief said recent compulsory retirement of 38 officers for alleged corruption and election related-issues from the service followed due process.

He stated that it was a good thing that some of the affected officers had opted to go to court and had indeed written to the service and would be given the appropriate response.

PUNCH.       

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Lagos threatens to shut properties over Land Use Charge http://9japroperty.com.ng/lagos-threatens-shut-properties-land-use-charge/?utm_source=rss&utm_medium=rss&utm_campaign=lagos-threatens-shut-properties-land-use-charge http://9japroperty.com.ng/lagos-threatens-shut-properties-land-use-charge/#respond Tue, 19 Apr 2016 08:51:32 +0000 http://9japroperty.com.ng/?p=4500 The Lagos State Government on Monday said it will shut down properties that defaults in the payment of Land Use Charge, LUC, and prosecute the owners of such properties. The Commissioner for Finance, Dr. Mustapha Akinkunmi who stated this at a press briefing in Lagos said the Land Use Charge was established by Law No […]

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The Lagos State Government on Monday said it will shut down properties that defaults in the payment of Land Use Charge, LUC, and prosecute the owners of such properties.

The Commissioner for Finance, Dr. Mustapha Akinkunmi who stated this at a press briefing in Lagos said the Land Use Charge was established by Law No 11 in 2001 in order to have a harmonious collection of property tax in the state.

He said property owners were expected to pay the charge annually,but lamented that property owners have not been complying in the payment of thir charges.

The commissioner disclosed that the stat government realised N7.1 billion in 2014 and N6.0 billion in 2015 as LUC, adding that government officials had started distributing the bills to property owners.

“Payment are expected to be made within 30 days from the date of bill delivery. Failure to do this means penalties begin to accrue from the 45th day after bill deliver and rise further afterwards. It is therefore in citizens interest to pay as soon as bills are delivered.

“Payment of Land Use Charge is a requirement of law and property tax defaulters will have their properties sealed and are liable to be prosecuted in court,” he said.

Akinkunmi warned against abuse or harassment of government official by the residents in the course of carrying out their duties, saying that the full wrath of the law will be invoked on any resident who assaulted a Lagos State official in this regard.

“If a resident suspect that a person is impersonating a Lagos State official, please report them to the office Finance, Ministry of Finance or to the police,” he said, urging residents who had newly acquired properties to upgrade their records at the local Land Use Charge offices in the state.

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The cost of vandalising public properties http://9japroperty.com.ng/the-cost-of-vandalising-public-properties/?utm_source=rss&utm_medium=rss&utm_campaign=the-cost-of-vandalising-public-properties http://9japroperty.com.ng/the-cost-of-vandalising-public-properties/#respond Thu, 14 Apr 2016 09:57:54 +0000 http://9japroperty.com.ng/?p=4480 Last week, the police in Lagos arrested a man who was reportedly caught with a stolen cable meant for the state government’s “Light up Lagos project.” While the offence of stealing a cable may seem inconsequential, its effect on the community is profound. For example, when a thief wilfully vandalises a power grid or a […]

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Last week, the police in Lagos arrested a man who was reportedly caught with a stolen cable meant for the state government’s “Light up Lagos project.” While the offence of stealing a cable may seem inconsequential, its effect on the community is profound. For example, when a thief wilfully vandalises a power grid or a transformer, a whole town or nation could face prolonged darkness. It is for this reason that I consider the arrest as significant. But that was an isolated case. The reality is that there are many unreported cases of wilful damage and destruction of public properties in Lagos and other parts of Nigeria. Destruction of public utilities either for personal or political reasons is a serious offence and even treasonable and deserves commensurate punishment.

By definition, public properties are amenities and infrastructure put in place by the government for the common good. These infrastructure are symbolic of the social contract government has entered into with the citizens. In plain language, public properties belong to the people or a community. The people are expected to take ownership of them.

Unfortunately, this is not the case in our clime. It is ironical that Nigerians see public properties as belonging to the people in government. Citizens do not realise that the amenities are procured and put in place with their hard earned money which they have contributed as taxes to the government. To underscore this ignorance, these public utilities often become the first target of destruction in times of crisis. In the process, public buildings, street lights, parks, roads are vandalised. It is the same ignorance that drives the vandalism of national assets like pipelines.

I have always considered such actions as akin to cutting one’s nose to spite one’s face. In the estimation of vandals, they think they are hurting the government. In truth, we are all victims of their ignorance. The wide gap between the government and the people has created a distrust which fuels vandalism. This gap has bred the “they vs us” mentality that is at the heart of the ills that bedevil our country today. That is why a vandal will break a pipeline to siphon fuel. It is the same reason a citizen will damage power grid to steal cables meant to provide street lights for his neighbourhood because they think such amenities are government properties.

In the mind of these vandals, they are getting back their “share” of the national cake. They do not see the link between their tax and the public property. The destruction and wilful damage to public utilities which amount to sabotage must henceforth be viewed seriously. This destruction ranges from just knocking down a street light to vandalising a power plant. These unwholesome practices by a few unscrupulous Nigerians are at the heart of our underdevelopment as a nation.

In Lagos, I have seen this happen frequently and without a deterrent. Even when these acts of destruction are reported in the media, the reports reinforce the stereotype that the damaged or vandalised infrastructure belong to the government. For example, the alleged Lagos cable thief was said to have been caught with “Ambode street light project cable.” An impression was created that the stolen cables belonged to Governor Akinwumi Ambode. Obviously, there is the need to create awareness for Nigerians to know that these amenities belong to them. Apart from the damage being done to the government-funded infrastructure like pipelines, bridge railings and power grid, I have seen how in Lagos, public properties funded with taxpayers’ money are being damaged with impunity. One is mostly alarmed at the rate street light poles are being knocked down by reckless drivers with the culprits often getting away with such destruction.

Even the roads are being vandalised. In many cases, telecommunications companies and individuals cause damage to roads when laying optic fibre cables. In many cases, they never bother to repair the damage caused when they dig up the roads. While the people need to understand that these utilities are put in place for their own good, the government must be resolute in enforcing the laws that protect our national assets. As seen below, the law views vandalism seriously.

Under the miscellaneous provision of the Criminal Code entitled, “Wilful destruction of public property”, the law states that “any person who unlawfully or with intent to destroy or damage any public property removes, defaces or damages any public property shall be guilty of an offence and liable on conviction. “If the property in question is a railway line, electric power line, telephone line or a demarcation line on a public highway and the property is damaged or rendered dangerous, impassable or non-functional, to imprisonment for a term not exceeding 21 years without the option of a fine.”

Under the destruction of highway, the law also warns that “Any person, who for any purpose whatsoever, wilfully, unlawfully or maliciously causes any damage or authorises any damage to any highway and fails, refuses or neglects to repair such highway on completion of any work, if any, thereon; or (b) destroys, removes or damages any guard rail or other structure on any highway, shall be guilty of an offence and liable on conviction to imprisonment for a term not exceeding 10 years without the option of a fine.”

Under the provision for damage done to or tampering with electric fittings, among others, Section 10 states that “any person who unlawfully disconnects, removes, damages, tampers, meddles with or in any way whatsoever interferes with any electric fittings, meters or other appliances used for generating, transforming, converting, conveyancing, supplying or selling electricity shall be guilty of an offence and liable on conviction to imprisonment for a term not exceeding 21 years.”

From the above, one can see the position of the law is stringent on destruction of public properties. The implication of the crime is clear. We all suffer when gas pipelines are breached or when disruption is caused to oil pipelines or when power grid is sabotaged. In other countries, these are crimes that attract maximum sentences. Government must apply the laws to serve as a deterrent to the few Nigerians whose pre-occupation is to put the entire population in grief.

Most importantly, there is the need to create public awareness for Nigerians to take ownership of public properties in their domain. The message should be clear enough to drive home the implication of vandalising the infrastructure. By so doing, the people will protect or apprehend vandals when they attempt to damage or steal what belongs to the people. The civil society, National Orientation Agency and traditional institutions have a role to play in this regard. Beyond enforcing the law, there is also a need to address the growing poverty that makes Nigerians resort to desperate measures and self-help. The gap has created a situation where people see the government and everything connected to it as the enem. Bridging the gap will build trust. There must also be a hotline where people can report cases of vandalism wherever and whenever they occur. This will help the police and concerned agencies track and apprehend such vandals.

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