mayour16:
Banana Island, is an artificial island off the foreshore of Ikoyi, Eti-Osa, Lagos, Nigeria. It’s often called Billionaires Haven. It is a place where the most expensive and luxurious mansions are situated. It was created to attract attention to the country, and I can say it did archive this aim. Several leading Nigerian and International corporates such as - Etisalat Nigeria, Airtel Nigeria, Ford Foundation Nigeria and Olaniwun Ajayi & Co - are based on Banana Island. A plot of land in Banana Island could cost hundreds of millions of naira and to rent and apartment costs nothing less than millions of Naira also. The properties in this island are usually sold for billions of naira or sometimes in dollars.....

The original Banana Island construction project entitled “Lagoon City” was the brainchild of the Late Chief Adebayo Adeleke, a University of London trained Civil Engineer (MICE), and CEO of City Property Development.

Davido’s grand-dad Chief Adebayo Adeleke had originally commissioned a new urban development in Maroko, Victoria Island, but that project had been ‘acquired’ by the Lagos State government with no financial consideration paid. Following a lengthy 10 year court case, Lagos State government offered other parcels of land as consideration for the Maroko development.

Many scoffed at Chief Adeleke’s decision to select the Ikoyi Island perimeter, however they were unable to appreciate the foresight of the Chief, who promptly engaged the Westminster Dredging Company to dredge the foreshore, and create six interlinked and symmetrical islands. He wanted to create a development that would “Make Nigeria Proud”, and engaged Minoru Yamasaki the architect of Manhattan’s Twin Towers, to design replica twin towers as the flagship iconic buildings on the main island.

To complete the Lagoon City concept, Chief Adeleke planned an aesthetic design including a City Airport, which was a vision conceived long before the London Docklands Development, London City Airport, Dubai’s Palm Islands or Hong Kong’s Chek Lap Kok Airport.
Unfortunately for the Chief, as soon as he had reclaimed the land and the brilliance of the idea was unveiled, others were determined to wrestle the land from him, and the project was ‘acquired’ again with no consideration being paid to City Property Development Limited. The ‘acquisition’ is currently being challenged in various courts, and there are Caveat Emptor warnings in place to warn prospective buyers that their investment could be at risk in future. There is also litigation pending in the UK and European courts regarding this matter.

The subsequent developers were principally interested in maximizing the yield of the land at the expense of the aesthetic innovative design foreseen by Chief Adebayo Adeleke. Consequently the land was filled in to create a banana shaped island, which has resolutely failed to achieve any international iconic architectural acclaim, as it is now a residential scheme rather than the commercial development originally envisaged
Sourc: www.estatehood..com

'How Lagos World Trade Centre Project Was Stalled | Fri, 21 Dec 2007 | Punch Newspaper Nigeria'

If things had gone as planned by officials of the Lagoon City Development Corporation (LCDC), a considerable portion of the land bordering the highbrow Ikoyi waterfront in Lagos would be bubbling with commercial activities courtesy of an imposing World Trade Centre (WTC) complex, as well as ancillary facilities. But the tall dreams never became a reality and the issue has, in the past 15 years, been a subject of litigation.

The late industrialist and owner of LCDC, Chief Adebayo Adeleke, who passed on in October 1987, had sometime in 1981, explored the possibility of generating public revenue and creating substantial employment opportunities off the Lagos Lagoon foreshore, which had previously been neglected. The proposal was also meant to relieve the growing pressure for commercial property on the Lagos Island and the then strictly residential areas of Victoria Island and Ikoyi, as well as to provide for the establishment of a WTC complex for the promotion of external trade and investment in the country.

The entire scheme was christened "Lagoon City." Consequently, LCDC made a preliminary design, proposal and application for approval which it forwarded to the Lagos State Government, which then demanded N140,000 as fees. This was paid and approval was granted in February 1983. The firm of Westminster Dredging (Nigeria) Limited was engaged as consultants and contractors for the reclamation works, for which a down payment of N2.5 million was paid.

The LCDC was to learn later that the parts of the lagoon and foreshore proposed for the said project, were vested in the Nigerian Ports Authority (NPA) on behalf of the Federal Government to which application should have been made. The dredging company sought NPA approval on May 24, 1983, following which an approval was granted via a letter dated June 17, 1983. But, after reclamation work began, NPA officials allegedly approached the developers on the basis, that only a preliminary approval had been granted, and that a full consent could only be given after an undertaking had been given to the effect that hydrological and other tests would be carried out, to establish the possible effects of the project on the lagoon.

To satisfy the new NPA demand, the LCDC claimed that it engaged the services of a number of companies to carry out the studies – including two Canadian firms – who were duly paid for their efforts. However, by 1984 when a considerable expanse of land had been gained, the Lagos State government began to express an interest in the development, as well as others in the vicinity of Ikoyi and the Lekki Peninsula. It was gathered that the Federal Government stepped in, and in 1988 issued a White Paper that vested the land in NPA on its behalf. The matter dragged on during the tenure of Major-General Mamman Kontagora and Barnabas Gemade as Works and Housing ministers, without any headway.

The LCDC, however, claimed that it received in July 1991 a government offer for the allocation of 20 plots to it on the land. But LCDC stated that the offer was rescinded, when the government offered N31 million in lieu of the 30 plots.

The LCDC eventually headed for the court, instituting a N500 million suit for specific performance on the part of the government. Along the line, LCDC officials claimed that they learned the said land had been divided into 144 plots to be allocated to top government officials. Four years ago in February 2003 several years after the matter had gone into the cooler (following the decision Justice Dolapo Akinsanya of a Lagos High Court in December 1993 declining jurisdiction on the matter), the Appeal Court re-opened the case and set aside the 1993 ruling, ordering that the case be heard expeditiously by another judge.

Akinsanya had based her decision on The Lands (Title Vesting Etc) Decree No. 52 of 1993 and Federal Military Government (Supremacy and Enforcement of Powers) Decree No. 12 of 1994. Decree 52 vests the ownership of "all lands lying within 100 meters limit of the shoreline of Nigeria and other lands reclaimed from any lagoon, sea, ocean in or bordering Nigeria or of ocean bordering the Federal Republic of Nigeria in the Federal Government." A few months ago, in a suit brought by the LCDC against the Federal Government, an interlocutory order restraining further development within Banana Island in Ikoyi, was granted against the government. According to a Lagos State High Court, until otherwise stated no further construction works by the Federal Government and all its agents should continue on the choice estate.

The trial judge, Justice Candide Johnson, after hearing from the counsel of both the plaintiff and the defendant, made the order with a view to protect the subject of the case initiated by the LCDC. However, the decision of the court seems not to have gone down well with affected parties on Banana Island, where construction activities is worth no fewer than N40 billion and price of plots range between N50 million and N125 million.

Some property owners who claim that they used their property to obtain bank loans to finance the projects complain of untold hardship, irreparable damage and colossal financial losses since the injunction on the island came into force. Also, while the Federal High Court suit filed against LCDC in April 2007 was dismissed in July 2007, the High Court suit filed by the company since 1993 is still pending before Justice Candide-Johnson.
https://en.wikipedia.org/wiki/Talk%3ABanana_Island

Sir,
These pictures are not Banana Island, Lagos.
So, which Banana Island is this one ?

mayour16:

The original Banana Island construction project entitled “Lagoon City” was the brainchild of the Late Chief Adebayo Adeleke, a University of London trained Civil Engineer (MICE), and CEO of City Property Development
Sourc: www.estatehood..com

Sir,

These pictures are not Banana Island, Lagos.

So, which Banana Island is this one ?

Ybaby:
Let me give a lesson in inheritance.

Davido's grandfather was the creator of banana island abi na developer of banana island

He gave his kids some land that is Davido's father and Davido's father gave his own kids

https://pmnewsnigeria.com/2022/03/13/adeleke-buys-another-land-for-davido-in-banana-island/
Nigerian billionaire, Adedeji Adeleke has purchased another land for his son, Davido, in Banana Island, Lagos.

and Davido has promised to build the craziest crib for his kids

Davido says he's about to build the craziest crib ever in ...https://www.pulse.ng › Entertainment › Celebrities
— "I'm boutta build some crazy shit for the kids," he said at that time. The music star recently opened his new home in Banana Island.

This is how they are a wealthy family... working hard and passing on generational wealth. You gerrit!?

Stop eating at home - your dad can eliminate you if he gets the chance he is a bully, a greedy man and has a keen sense of entitlement with no understanding of lineage.

I like that your mum's kins men said even you cannot sell which is what my dad told me too about my inheritance - they are for the kids coming - the rent is mine sha but the asset is for the generation

Ole ni popsi eh o .... ma sa fun won