LANRE OLAOLUWA, AMCON'S RECEIVER MANAGER STATIONS MISCREANTS AND TOUTS IN VICTORY PARK ESTATE LEKKI LAGOS TO HARASS, INTIMIDATE AND HARM INNOCENT RESIDENTS AND LAND OWNERS.

In Victory Park Estate, Lekki, Lagos State, Nigeria, a Receiver Manager for AMCON Mr Lanre Olaoluwa, is using miscreants and touts to harass, intimidate and harm bona-fide land owners and beating any construction worker that dares to come to site. All of this is preparatory to ‘grabbing’ their Land.
The background story is slightly long - please indulge us. Residents of Victory Park Estate, Igbokushu, Eti-Osa Local Government area, Lagos State purchased land legally from Grant Properties/Knight Rook Limited, the only companies authorised to sell plots of land in the Estate. There were no caveats in the Lands Registry or the Corporate Affairs Commission when the residents carried out due diligence checks before purchasing Land from Grant Properties/Knight Rook Ltd.
To develop infrastructure in the Estate, Grant Properties had taken loans from 4 Commercial banks and subsequently ran into problems over repayment. Consequently, the banks took their facilities to AMCON but still retained Grant Properties/Knight Rook Limited as Selling Agents via an MOU. Despite these sales, Grant Properties/Knight Rook was still unable to repay AMCON who then appointed a Receiver Manager, Lanre Olaoluwa to take over Grant's assets and recover funds to pay down the loan. Olaoluwa proceeded to lock up Grant's and Knight Rook’s offices and commenced negotiations with the key Sponsors Otunba Jide Awosedo and others. Negotiations broke down because both parties could not agree. Added to all this drama is a twist wherein the MD of one of the creditor banks went ahead and sold land which was supposedly pledged as collateral to a Director of his bank after the loans had been sold to AMCON - insider trading! Conflict of interest! Fraud! And also despite the executed and subsisting MOU. Grant Properties then took the matter to court and the Court invalidated the conflicted sale and ruled in favor of Grant Properties. But the Receiver Manager has turned a blind eye to this. As we write, neither the conflicted sold property, housing what is now Cadogan Estate, nor its residents are being disturbed by Lanre Olaoluwa or AMCON.
On 29th September 2017, just a few days after the negotiations broke down, Lanre Olaoluwa served residents in the Estate with a letter, demanding that they submit their title documents for verification. He promised to provide a Survey plan which will show his claim to unencumbered land in the Estate. Till date he has not produced any such Survey simply because it does not exist! Note also that the authority to verify title documents does not reside in the hands of private individuals or companies but rather with the various Government appointed parastatals and offices and the Law Courts. Residents later found out that Lanre Olaoluwa intended to present any title document submitted to him by residents to AMCON as proof that residents had succumbed to his wily ways and were now desperate to negotiate payment of validation fees which was a complete fallacy.
On 30th September 2017, Olaoluwa again sent in miscreants and touts to harass workers on all plots where construction was ongoing. Believe it or not, those miscreants and touts have showed up every single day from then till now. People have taken mortgage loans and all kinds of loans and are still unable to build.
The aggrieved residents have sent a petition to AMCON, and have also published a petition on pages 20 and 21 of the Guardian newspaper on 7th November 2017 (attached).
A video showing an aerial view of the estate can be found at the link below, proof that the land is not unencumbered, developed with bona fide law abiding and gainfully employed tax paying residents contrary to Lanre Olaoluwa's claims.


https://www.youtube.com/watch?v=HavFTmSXtOo

Only in Nigeria will a representative of an institution of AMCON's caliber use miscreants and touts to harass innocent individuals who have worked hard to legally acquire property, whilst the real culprit(s) is/are walking free because they are well connected and untouchable. It is believed that Lanre Olaoluwa's long term friendship with Kola Ayeye, AMCON ED is what has given him the courage to harass innocent individuals without fear of repercussion, as AMCON is yet to call him to order despite several letters and a petition written to AMCON by the aggrieved residents on this matter. Attached are pictures of Lanre Olaoluwa preaching at Kola Ayeye's church, proof of the strong relationship that exists between the two.
And to think that despite the current state of unrest in the estate, the Receiver Manager, Lanre Olaoluwa is still marketing plots for sale in the same Estate. Only in Nigeria can this happen.
The residents of Victory Park Estate need AMCON to call their Receiver Manager, Lanre Olaoluwa to order. The harassment must stop! Nigerians are tired of suffering because of lawlessness. The position of the law on this matter is clear. Lanre Olaoluwa cannot be above the law. He needs to stop harassing innocent citizens with touts! Pursue Grant Properties/Knight Rook and leave innocent residents alone!

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https://m.facebook.com/story.php?story_fbid=10155854559964054&id=635929053

GRANT PROPERTIES PROMOTER OLAJIDE AWOSEDO VS AMCON - THE TRUE STORY

The Asset Management Corporation of Nigeria (AMCON) and its receiver manager have been brought to the center of a media circus owing to the allegations of Olajide Awosedo, chairman of Grant Properties Limited, against the corporation. AMCON has now given a detailed response to the allegations.

WHO IS OLAJIDE AWOSEDO?

Mr. Olajide Awosedo is the promoter of Grant Properties which is currently under receivership due to debts owed AMCON. AMCON was established under the AMCON Act 2010 to acquire non-performing loans known as “Eligible Bank Assets” (EBA) from Nigerian banks. These assets are now held on behalf of 180 million Nigerians. It has been reported that over 80% of these debts are owed by a few elite Nigerians who deploy huge resources to avoid paying back the debts. One such debtor is Olajide Awosedo who was indebted to over nine banks to the tune of N22 billion. Awosedo’s other company – Havilah Villas Limited is also indebted to Heritage Bank and Access Bank. Its assets in Ogun state were seized by AMCON in June 2017 over a N4.68 billion debt. Awosedo also owes First Bank N2 billion plus interest arising from a development called Goshen Beach Estate. As a result First Bank, Sterling Bank, Wema Bank, Unity Bank, Access Bank, Skye Bank and the other banks are all trying to recover their loans.

WHEN AWOSEDO’S FINANCIAL PROBLEMS REACHED A HEAD

Awosedo’s financial problem crystallized when he left the People’s Democratic Party (PDP) for the Labour Party having failed to secure the Ogun State governorship Ticket. He proceeded to contest the governorship contest using borrowed funds and was unsuccessful. Olajide Awosedo made another unsuccessful attempt through the Accord party which further compounded his financial situation. As a result he was unable to repay his mounting debts. It has been alleged that Awosedo used part of the N8 billion he borrowed from the consortium of banks, meant for real estate development, to fund his governorship campaign in Ogun state.

Mr. Awosedo’s various debts arose from unpaid loans relating to the development of Goshen Beach Estate Lekki (First Bank), Victory Park Estate Lekki ( Sterling Bank, Wema Bank, Unity Bank and Skye Bank ) and Havilla Gardens Ogun State (Access Bank formerly Intercontinental Bank and Heritage Bank). It is claimed that he also owed FCMB, Diamond Bank, United Mortgage Bank and Providus Bank. These debts have been subject to court cases, court judgments and EBAs now acquired by AMCON.

THE BEGINNING OF AWOSEDO’S TROUBLE WITH BANKS AND AMCON

According to a source privy to this case, in 2002 the Lagos State government under the private developers’ scheme allocated 46 hectares of land to a company called Knight Rook Limited. But the company was unable to pay for the land; Lagos state demanded for a bank guarantee to cover the payment. Grant Properties the promoters approached a consortium of banks for the Bank Guarantee. Grant Properties was a shareholder of Knight Rook Limited before transferring its shares to the four banks led by Sterling Bank in 2006. At all times the property belonged to Knight Rook Limited and not Grant Properties.

The Victory Park Estate debt under reference arose due to this failed obligation to Lagos State Government. Grant Properties had approached the four banks in 2003 (Sterling Bank, WEMA Bank, Unity Bank and Skye Bank) for the Bank Guarantee to be issued in favor of Lagos State Government for a Site and Services estate Scheme. The lead bank was Sterling Bank (formerly NAL Bank). Mr. Awosedo was a staff of NAL Bank before resigning to enter private business.

Grant Properties failed to make payment on the due date and Lagos State claimed the due funds on the Bank Guarantee from the four Banks. Since the property was in the name of a company called Knight Rook Limited and the banks fully paid for the Land. (Awosedo did not contribute any money to the purchase of the property). The Banks demanded for their funds which were not forthcoming. Therefore in 2006 the bank foreclosed and all the shares of Knight Rook Limited were transferred to the four banks and the Banks appointed directors to Knight Rook Limited which meant that the banks fully owned Knight Rook. Grant Properties transferred all its shares to the banks and Mr. Awosedo and his wife resigned from Knight Rook Limited. Knight Rook secretariat and administrative matters were domiciled with Sterling Bank as the Lead Bank.

By an MOU, the Banks also appointed Grant Properties as developer to develop the phase 1 of 90 flats in Victory park estate. The Banks also funded and sponsored the phase 1 development. The Four Banks also paid the salaries of Awosedo’s staff during the period and customers paid deposits to the banks for the phase 2 development. The Banks did not charge any interest during this period because it was an investment. Upon completion of Phase 1 , the construction loan granted by the Banks remained unpaid and the project was declared a loss.

At this point, the debt figure was about over N10 billion. The consortium of banks explored every avenue to recover their money without success.

The Banks later discovered that Olajide Awosedo diverted 9 of the flats to his children and family which was an abuse and breach of trust. As a result all four banks were unwilling to provide further loans and the loan was classified as a bad debt. The banks further resolved to transfer the debt to AMCON. However, before the debt could be purchased by AMCON, the banks needed to refund all the creditors and depositors.

Grant properties proposed the sale of 10 hectares to raise funds to repay some of the debts. The four banks gave Grant Properties over 2 years to find a buyer but Grant properties informed the banks that they could not find a buyer due to the economic situation. So the Banks found a buyer and sold the 10 hectares and then refunded all the depositors with the proceeds. In the process the banks lost a lot of money. This meant that even if the land was sold at a higher price, Grant Properties would NOT have received the money because it would have been applied to repay the remaining debts which were written off by the banks before they transferred the EBA to AMCON. The 4 Banks also agreed to transfer the remaining 14 hectares to AMCON as consideration for the EBA purchased from the banks. Considering the fact that this was depositors’ money and pressed in a tight corner, the banks sold the bad debt to the Asset Management Corporation of Nigeria (AMCON). The corporation bought the liability for N5.1 billion which was not enough to cover the N10 billion debt sum which meant that the Banks lost another N5 billion on the debts.

Meanwhile Awosedo of Grant Properties continued to sell parcels of land in Victory Park Estate, Lekki, to unsuspecting buyers even after AMCON had acquired the asset. AMCON considered this action fraudulent and took legal action against him. Awosedo then petitioned AMCON claiming that the Banks sold the 10 hectares without his knowledge and that the 10 hectares sold by the Banks was part of the 14 hectares belonging to AMCON and that he was not involved or aware of the sale of the 10 hectares by the four banks. He also claimed that the property was sold below the true market value.

Further investigation by AMCON and the CBN found his petition to be false and untrue. AMCON found that the banks acted within the bounds of the law, and that sale of the assets to refund the depositors was legal. Contrary to the claim by Awosedo that the banks sold “his land” after AMCON had acquired his debt. The corporation confirmed that the sale of this asset (10 Hectares) happened before its acquisition of the liability. AMCON also found that he had been aware of the sale of 10 Hectares, that the proceeds were used to refund depositors and subscribers for buildings which Awosedo failed to deliver, that most of the refund cheques and deposits were handled by Grant properties and Awosedo. In refunding the subscribers, the lead bank (Sterling Bank) issued cheques, which were then handed over to Grant Properties Limited for distribution. Grant Properties Limited not only acknowledged the cheques but replied with corrections to be made in the name of some subscribers. Consequently, contrary to the petition, Mr Awosedo, through his companies was clearly involved in the sale of the 10 hectares and distribution of the proceeds of same.

AMCON discovered that Awosedo had fraudulently sold 2 Hectares of the 10 Hectares to unsuspecting buyers at N24,000/ sq meter. AMCON also discovered that the sales proceeds were diverted by Grant Properties and the proceeds were not used to pay down the bank debts or the AMCON EBA. The four banks had sold the 10 hectares - at N18,500/sq meter (about N1.85 billion) to Real Estate Development Company (RED) before AMCON took over the assets. RED sold 2.4 hectares of this land to UAC Property Development Company at the rate of N26,000/ sq meter. The price was higher because the value of the property had appreciated owing to the construction of a pivotal access road – Oba Akinloye Way. The entire 10 Hectares is now fully developed with over 300 families living in the estate.

Notwithstanding the above, AMCON negotiated between the two parties and sought an amicable resolution. Awosedo demanded for N750 million, the difference between N26,000/ sq meter price sold to UAC and the N18,000/ sq meter purchase price of RED (despite having sold two hectares at N24,000/ sq meter). Mr. Awosedo put his demands in writing offering to accept N600 million which was applied to reduce his liability to AMCON. The Banks counterclaimed through Sterling Bank that Awosedo withheld the proceeds of nine developed apartments valued at N270 million and the sales proceeds of two hectares. After protracted negotiations and mediation by AMCON, the banks agreed to forfeit the 9 apartments valued at N270 million and 10% of the EBA proceeds valued at N510 million. AMCON wrote to the banks confirming the final settlement and the four banks replied through sterling bank accepting the offer with the condition that AMCON will compel Awosedo and Grant properties to accept the same. AMCON replied and accepted the terms. AMCON is therefore now also bound by the terms of settlement reached by both parties.

However, Mr. Awosedo commenced legal action in 2012 – in the name of Knight Rook Limited (despite being fully aware that Knight Rook Limited was by this time wholly owned by AMCON and not having AMCON’s permission to do so) – purportedly to challenge the sale of land to UAC in SUIT NO: LD/576/12 – GRANT PROPERTIES LIMITED & ANOR V. UACN PROPERTY DEVELOPMENT COMPANY PLC & ANOR. Throughout this case, Mr. Awosedo never disclosed, until he was challenged, that he did not have AMCON’s authority to sue in the name of a company wholly owned by AMCON. The defendants contested his authority to sue, at which point his counsel – a senior advocate of Nigeria Bonajo Badejo SAN admitted the lack of authority to initiate the case in the name of Knight Rook Limited and Knight Rook Limited was struck out as a plaintiff in the suit (but inexplicably then joined as a defendant); more materially, Mr. Awosedo also never disclosed to the court that the issue had been resolved at his instance by AMCON. In June 2017 the high court nullified the transfer of 2.4 hectares to UAC but the court reaffirmed that the entire property still belonged to Knight Rook limited which was owned by AMCON. Awosedo then approached AMCON requesting to benefit from the judgment but AMCON as a responsible organization chose to honor the terms of the resolution earlier reached with all parties.


THE JUDGMENT OF A FEDERAL HIGH COURT SACKING GRANT PROPERTIES

In 2015, a Federal High Court in Lagos had ruled that the asset in dispute was the property of Knight Rook, not Awosedo’s Grant Properties. So, having resigned from the Knight Rook and transferring his shares to the four banks, Awosedo had no legal right to the asset. During the court case against UAC, Grant properties suppressed this information from the Lagos State court to his advantage. This forms part of the grounds of appeal by UAC in the Court of Appeal.

AMCON, which played a mediatory role between the consortium of banks and Grant Properties, says Awosedo has no legal right to Knight Rook or to its assets according to the 2015 judgment.
Mr. Jide Olasetin, a legal representative of the corporation, disclosed that the banks made 100 percent payment for the assets. He said Grant Properties made no single contribution to the purchase and development of the assets. He said the banks had exercised legal authority on the assets.

As required by law, AMCON duly gave Knight Rook Limited and thus Mr. Olajide Awosedo and his companies notice of the acquisition of their debts.

Today the assets belong to 180 million Nigerians and it is held in trust by AMCON until all the debts are recovered. Thus no amount of blackmail or intimidation will change the position of the Federal Government or AMCON until all the debts are paid.

The position of AMCON is unassailable and this position has been further confirmed “On 3rd October 2017, in Suit No: FHC/L/CS/744/17 – AMCON V. KNIGHT ROOK LIMITED & ORS, Hon Justice Buba of the Federal High Court (FHC), Lagos entered judgment in favour of AMCON against Knight Rook Limited & 5 Ors in the sum of N12, 566,910,191.00 plus interest. Counsel to Knight Rook Limited who was in court submitted to judgment stating that having reviewed records there was no defence to the claim while the other defendants including Mr. Olajide Awosedo who were duly served with the originating processes and had appeared in court through counsel prior to that day and had also applied for and obtained copies of all processes filed through their counsel, were absent and had Judgment entered against them in default of defence, pursuant to the extant provisions of the AMCON Practice Direction 2013,” AMCON said.

“Buba J also made an order forfeiting all and any residuary rights, which Mr. Olajide Awosedo may have to Knight Rook Limited amongst other orders.

“AMCON immediately executed this judgment by attaching and taking possession of the chattels and landed properties (including Victory Park Estate) which the receiver/Manager, Mr. Lanre Olaoluwa, had earlier taken possession of Victory Park Estate and other assets of Mr. Olajide Awosedo and his companies. The receiver/manager, in compliance with the judgment of the Federal High Court in that regard, handed over all those assets to AMCON.”

As a result of this action Olajide Awosedo has embarked on a smear campaign against individuals in AMCON and the banks on the social and print media. This blackmail is a usual strategy employed by chronic debtors who are unwilling to pay their debts. But AMCON and its senior management are undeterred.

According to the corporation, Justice Buba of the Federal High Court, Lagos ruled in October that Awosedo had no residuary right to Knight Rook. AMCON says the judgment also gave it the necessary legal muscle to acquire the assets.

This judgment, from a constitutional court, validates the action of AMCON.

http://www.nigerianeye.com/2017/12/grant-properties-promoter-olajide.html

Dear Truenorth, you are obviously one of the problems of this country. Skewing stories to favour your sponsors and fabricating lies to promote the agenda of people who have bought your integrity. AMCON and their so-called Receiver Manager, Lanre Olaoluwa have NO RIGHT to prevent land owners from having access to their land. Land bought from Grant properties before AMCON decided to come and cause chaos is not Grant's land. Over 100 hard working Nigerians paid their life's savings for land and because we live in a lawless country, someone can station touts to beat up their workers!

I have just one question for you, Mr Truenorth. Why hasn't AMCON replied Grant's letter dated 8th January 2018? Grant and the Promoter of Cadogan have reached an agreement on how to fully settle the debt, but the "big boys" in AMCON who have personal pocket agendas will not let the agreement go through.

Go now and discuss with those who have paid you to speak lies on their behalf, and ask them for us. We would like to know why AMCON is yet to respond to a letter clearly stating how the debt will be settled.

In any case, debt or no debt, letter or no letter, what business does Lanre Olaoluwa have with third party land owners? Why pay to have touts harass people off their land?

THIS GREATEST CORPORATE FRAUD BY BANKS, AWOSEDO'S AND AMCON.

I am a lawyer by training and also practice law to a large extent. I am married to an equally well educated woman. So I am what you may term a medium income class person if am not over exaggerating my financial status. I live in Victory Park Estate sitting on about 33 Hectares of land located in Osapa London somewhere on the Lekki Epe Expressway axis with over 300 other medium class people who are also very well educated.

As far back from 2003 some of us started buying into Victory Park Estate land to develop our houses after doing our due legal diligence and finding at Lagos State Land registry that the title to the land that is in the name of Knight Rook Limited was free from any encumbrance. For those of you that are not lawyers, a title of land being free from encumbrances means that the title is good, there is no mortgage, pledge, charge etc that had been obtained against it by any financial institution or any other company.

From 2003 or there about till about June 2017 the present Homeowners in the estate continued to buy into the estate and also developed, living in the estate without molestation by anyone, either Government or otherwise, paying their Land Use Charge to Lagos State annually after having our various titles to our properties registered.

To our amazement in June 2017 to be precise we all woke up to see a publication that Knight Rook Limited the owner of the global C of O over Victory Park Estate {a C of O by the way means certificate of occupancy, a title issued to land by the State government or any government } is in Receivership with other companies over a loan one of the companies Grant Properties Limited allegedly took from Sterling Bank, Skye bank now Polaris bank, Wema bank and I think FCMB and used Knight Rook Limited with its shares as security that the companies have defaulted in paying.

And the said loan now an Eligible bank assets was subsequently sold to AMCON maybe in 2011 or 2012. So it was AMCON that went to court to put the companies in Receivership.

We later learned following the suit filed by AMCON that the shareholders of Knight Rook Limited as security for the facility have transferred their shares to the nominees of the banks and have resigned their positions as directors in Knight Rook Limited so have no right to continue to act as directors of Knight Rook Limited though these people, the Awosedo's family who owned the companies continued to act to the knowledge of the banks as we later found out and the banks never stopped them from acting despite not being directors of Knight Rook Limited anymore which according to them change to that was effected at the Corporate Affairs Commission in Abuja.

Anyway, despite the removal of the Awosedo's from Knight Rook Limited an agreement was entered by the banks with the other company of the Awosedo's Grant Properties Limited to market and sell all the land in Victory Park Estate and remit sales proceeds to the banks which to the knowledge or active collaboration by these banks the Awosedo's again defaulted without the banks or AMCON doing anything even after they purchased the asset. This agreement between the banks and the Awosedo's companies was made in 2006. So from 2006 until AMCON publication of putting the companies in Receivership, the members of the public were misled by the Awosedo's, the banks and AMCON to believe that the Awosedo's have a right to the land in Victory Park estate held in the name of Knight Rook Limited.

Present position: with the Receivership by AMCON of Knight Rook Limited and by virtue assets of Knight Rook Limited, AMCON is now laying claim to all the land in Victory Park Estate whether already sold and developed years ago or not and have continued to harass innocent bonafide purchasers without notice of their interest. They have filed several suits against the Awosedo's companies in court where by some magic since the companies are in Receivership, Knight Rook Limited admitted in court that it is indebted to AMCON and a consent judgment was made in that regard against Knight Rook Limited. These suits were filed by AMCON without joining any of the Homeowners in any of the suits but have turned around to use the judgment in those suits to takeover the properties of Homeowners in the estate.

Before we the Homeowners are crucified, please be informed that on being aware of the suits and the attempt of the Receiver Manager appointed by the court on behalf of AMCON, we have taken steps to go through due legal process to challenge the right of AMCON to interfere with our possessions but I can tell you like it has been known with our courts for 18 months that we are in court nothing has been done and AMCON and its RM have continued to make life unbearable for us as they are not only taking over unoccupied and undeveloped properties but even the ones in occupation the people are been forced out by the use of thugs and Police. Two families were forced out of their houses this week and their properties sealed by court officials acting on these judgments obtained against the Awosedo's companies. As I am speaking I don't know whether I will be able to spend another night in my house unless I waive my right and now go begging (not negotiating) to be allowed to pay some money to AMCON. Apart from court, we have written petition letters to the Presidency, the Inspector General of Police office, the Lagos State Commissioner of Police and even the board and management of AMCON, yet no respite.

The most shocking of it all that we learned was that the Inspector General of Police and the Presidency actually approved the actions of AMCON against us innocent law abiding people who never took any loan from any bank to buy property in Victory Park Estate. The Awosedo's, the banks and even AMCON officials who committed and orchestrated this fraud on our economy and us are left to enjoy their loot whilst we suffer for what? I know that some of you that will be reading this post like every other Nigerian that is not happy to see his fellow citizen progress in life will say it serves us right. But really what is it that serves us right? What other precautions known in law should we have taken that we did not take from my narrative so far? And I can tell you this story is short of any bias.

Yesterday when I saw the two families that were thrown out with wives and children, as much as I am lawyer, I lost faith in our Judiciary and this government that some of us voted. It even grieved my heart the more to learn that some of us have actually called the Vice president on one on one basis to investigate if our story is made up or there is truth in it but nothing so far since 2017. All I am told is that they are interested in is the recovery of alleged bank monies in the hands of those who took loans and defaulted. My take is how did we fall into this category?

PITY ME NOT BUT CRY FOR MY ONCE BELOVED COUNTRY. Last night a family after seeing this has decided that between now and weekend he is relocating from the country. He has American passport. How many of us can make such move on the spur but I can tell you a lot are doing so today. And these are genuine hardworking Nigerians who actually thought by being here they can make some positive difference.

Which way Nigeria?

LANRE OLAOLUWA'S TOUTS NOW SEALING OCCUPIED HOUSES!!!!

My fellow Nigerians,

It is with a heavy heart and a saddened spirit that I bring to you this information. Over the past two years, Lanre Olaoluwa has become increasingly bold. From using touts to beat workers off land owned by bona-fide purchasers for value (that doesn't belong to Grant or AMCON), to taking over all undeveloped plots in Victory park Estate. He has sold land belonging to bonafide purchasers like you and I and he is using touts and Police to harass homeowners.

The new one he has done now is using touts and Policemen to force people out of their homes and sealing up the homes. See the attached pictures. This could happen to anybody. This is a law-abiding citizen who did adequate due diligence before buying his land, built his house and has been living in it for over 3 years now. This man received no notice whatsoever, woke up in his house one morning with his wife and children, and they didn't sleep in the house that night!!


I want to know what AMCON is doing about this! The AMCON big boys who colluded with Awosedo before and are now colluding with Lanre Olaoluwa to defraud hard working Nigerians!!

I want to know why the Nigerian Police that the residents went to for help, but didn't help, is available to Lanre Olaoluwa to throw people out of their houses because he has connections with the IG!!

I want to know why our legal system has ignored our cases in court for the past 18 months, whilst Lanre Olaoluwa harasses us in broad daylight!!

I want to know why the Presidency and the Lagos state Government are looking away from this!!

I want to know why corruption is so rife in our country that people cannot have peace and live in their homes again!!

Which way Nigeria? Who did we offend?

Is this a Government sponsored fraud and human rights abuse? Is the Government culpable? Why else would Lanre Olaoluwa and AMCON be this bold in the face of illegality and criminal activity? Who are the big boys sanctioning this unfair robbery?

When you bought the property from Awosedo, did you perfect your title at the Lands registry?

Even if you were given a sublease by Awosedo, did you perfect it was and obtain a Governor's Consent?
If you did, your property would be insulated from their madness.

The toutish and foolish tactics of the receiver notwithstanding, the criminal here is Awosedo. He criminally used a property which he had sold as security for a loan. He did this because the title of the properties weren't perfected.

Have you tried talking to Amcon?
Forget everything, go to their legal department and talk one-on-one with their head of legal. Go with documents and talk. If you need to repurchase the property, offer to spread the payment like a mortgage. Just anything to avoid you losing that property.

Honestly, I feel for you and may God punish those criminals.

In my opinion, AMCON is now the rightful owners of the land since they have bought up the assets / debt of the Awosedo’s / Knight Roook Ltd from the consortium of the 4 banks involved in the deal.