₦airaland Forum

Good evening house, I paid 900k to a company called Christal Homes for a plot of land in Epe 3 years ago; less developmental levy and another surcharge. The company is yet to allocate the plot till date, they say they have been unable to mobilize their surveyor to the site due to certain challenges.
Who has any experience with this company? Is this how Nigerians can use a registered company to sell non existent land to people, having no regards for their personal situation, or how much they struggled to raise the money for the purchase?
I need advise on the right steps to take going forward.

Btw an entity bought over 1bn worth of Ellah Lakes at market closing on Friday. Something is going on that is uncommon knowledge.

https://openai.com/chatgpt/overview/ Is Ellah Lakes a scam company?

Ellah Lakes Plc is a **publicly listed agribusiness** on the Nigerian Exchange (NGX), founded in 1980, with a focus on oil palm, cassava, soybean, rice, maize and livestock. It’s a legitimate company with ongoing partnerships, government projects, and a public track record—not a scam. Here’s what recent reporting shows:

---

### ✅ Confirmed activities & credibility

* In **September 2022**, Ellah Lakes took over the management of the 5,000-hectare Adarice Farms in Enugu State under a Memorandum of Understanding with the state government, aiming to build a “Staple Crop Processing Zone” ([Nairametrics][1], [Nairametrics][2]).
* It also has a 2,400-hectare palm plantation acquired in 2019 and is working on additional 5,000-hectare leases in Ondo and Enugu ([Nairametrics][3]).
* The company has registered capital raises and funding rounds, including a ₦5 billion private placement in early 2024 and previous funding efforts including rights issues and partnerships .

### 📉 Financial lens

* Ellah Lakes has faced **financial challenges**, including periods of zero or minimal revenue, such as ₦780,000 in 2024 with a net loss of ₦893.9 million ([Businessday NG][4]).
* It is actively restructuring finances—converting debt to equity, issuing new shares, and leveraging government schemes .

### 🌱 Business growth & legitimacy

* The company’s strategy includes vertical integration: crop cultivation + processing, livestock (piggery), and partnerships like the International Institute of Tropical Agriculture (IITA) for soybean production ([The Nation Newspaper][5]).
* Their annual general meetings are well-documented in credible Nigerian media (e.g., BusinessDay, The Guardian, Nairametrics), with executive names published and board activity openly reported ([Businessday NG][4]).

---

### 🚫 Conclusion

Ellah Lakes is a **real, regulated company** with transparency through NGX filings, strategic acquisitions, public-private MOUs, and ongoing expansion plans. While it does face typical agribusiness financial hurdles, there’s **no credible evidence** to suggest it’s a scam. Its operations and public record support its legitimacy.

---

If you’re considering **investing or partnering** with them, I recommend:

* Reviewing their **latest financial statements** on NGX or their investor relations portal.
* Monitoring **ongoing updates around project commissioning** (e.g., palm oil mill activity due in Q1–Q2 2025) ([Businessday NG][4]).
* Seeking professional advice if you’re planning significant involvement.

Let me know if you'd like help digging into their latest annual report, stock performance, or strategic plans!

[1]: https://nairametrics.com/2022/09/12/ellah-lakes-plc-announces-take-over-of-adarice-farms-associated-assets-from-enugu-state-government/?utm_source=chatgpt.com "Ellah Lakes Plc announces Take Over of Adarice Farms & Associated Assets From Enugu State Government - Nairametrics"
[2]: https://nairametrics.com/2022/09/09/ellah-lakes-takes-over-adarice-farms-from-enugu-state-government/?utm_source=chatgpt.com "Ellah Lakes takes over operations of Adarice Farms from Enugu State Government - Nairametrics"
[3]: https://nairametrics.com/2022/09/18/ellah-lakes-plc-making-success-from-refocusing-strategic-acquisitions-under-chuka-mordi/?utm_source=chatgpt.com "Ellah Lakes Plc: Making success from refocusing, strategic acquisitions under Chuka Mordi - Nairametrics"
[4]: https://businessday.ng/companies/article/ellah-lakes-eyes-palm-oil-production-in-2025/?utm_source=chatgpt.com "Ellah Lakes eyes palm oil production in 2025 - Businessday NG"
[5]: https://thenationonlineng.net/ellah-lakes-iita-partner-on-n360b-soybean-market/?utm_source=chatgpt.com "Ellah Lakes, IITA partner on N360b soybean market - The Nation Newspaper"

The experience driving a Vboot in good condition is hard to describe. Even by today's standards.

Xenob:
I Bought a 2006 civic.

Well done. The civic is a winner any day particularly if bought in good condition. Simplicity, beauty, reliability, it has it all.
I respect a man that has the intellect to follow wise counsel. You picked the civic although it was not among your initial options.

lol, who steals a mercedes in Nigeria? How would you steal it? How would you sell it?

This thread should be in the Car Talk section. Some people would say it is not possible to get a good car at this price range. Nothing could be further from the truth in real life. Many good cars are available at this range, if you are willing to have patience and vet the offers properly. Even some popular brands can be had at this price. Used buys only I should add. These are a few examples off the top of my head: (most between 2000-2010, manual cars are supposed to be cheaper)
Toyota corolla /Yaris
Nissan Versa/Almera
Nissan Altima
Honda civic/city are very reliable cars
Mazda 3 or Mazda 6
Hyundai Accent/Elantra
VW Golf 3/4
Peugeot 206/307/406
Mitsubishi Outlander
Mercedes benz C class w202/w203.

These are some of the popular ones you can get in good condition as a used buy after proper inspection. There are other less popular brands like the American cars among others.
Good luck in your search.

sky2891:
All the goods were previously being imported except that you cannnot access FX officially for the 43 listed items.

Ok, I see. The items were being imported illegally with funds sourced from the black market. It sounds logical now how the pressure on fx from the black market could be lessened if the importers are able to access the official rates.

crownprince2017:
The policy by buhari to ban importation could have been the best but it was just a policy without monitoring, how can government put the local production in the hand of the few.

Local production without healthy competition leads to monopoly and monopoly by greedy few industrialists lead to inflation.

Buhari should have had a timeframe on the goals of the policy and decide accordingly, if he had done that we might be in a different place now.

I think one of the aim of encouraging this local production was to bring down prices as the local firms gain ground but the reverse was the case.

I believed Mr president has done well since our local firm only think about their bank account only, even if tinubu continue with the policy for 50 years, these People will keep inflation at the highest possible............



TGIF

Brilliant post.

sky2891:
It will ease the pressure on the black market.
These importers can now also access foreign currency through the commercial banks via Letters of credit and Bills for Collection at the official rate.

More goods to import, and more people wanting to import. It will put more pressure on the official markets, and the black market.

Good idea, except for the involvement of UNICEF. This is something that can and should be done without the involvement of the so called international agencies if we would be wise and cautious as a sovereign nation.

SA

IyaTola:
Two fans a d a tv in less than 6hrs it will shut down

Average size inverter for light use in a small apartment is 1000watt. Hence 1kva inverters are the commonest and lowest priced.
A good modern fan is about 100watt.
Average size TV is about 200 watt.

Duration of use depends on battery capacity. This is elementary home energy dynamics.

SA

SA

Available

slimjohn2k5:
Swap with 3.5kva n give me 20k

I already bought a new one adequate for my needs.

Mastersure:
What can it carry?

1500watts total power rating. So a little less than that should be fine.

Genus Proton 1.5kva
Pure sine wave, 24v inverter
In perfect condition.
60k.
08038717534 whatsapp only.
08124845615 call/txt only.

SA

Genus Proton 1.5kva
Pure sine wave, 24v
In perfect condition.
60k
08038717534 whatsapp only.
08124845615 call/txt only

Genus Proton 1.5kva
Pure sine wave, 24v
In perfect condition.
60k
08038717534 whatsapp only.
08124845615 call/txt only.

Very clean vintage performance car.

Update: I sent the ETS an email regarding the developments and requested for a refund which they granted in full. Almost 2 months after the event. I feel grateful for that. I respect foreign organizations for this sort of thing. Apparently the testing has been decentralized so much so that the major decision makers may be unaware of the details of operations until they are notified. Lesson learnt.

Second attempt with Mac same day.

First attempt with PC.

Key lessons:
Avoid the toefl home edition if you can. Be patient, register with a proper toefl center and take the test there.

If you must take the home edition. Ensure you have the updated windows license, ensure you have adequate internet connection, Wi-Fi is what is required.

Pray hard that no new issues come up on the day, unless you have loose money to throw away.

Ps: I have since taken the IELTS at a proper center.

I ran helter skelter got another pc, a macbook this time, and the test started after another Proctor came on.
He checked the surroundings and the system and commenced proceedings.
I started with the reading section and completed that in about 45 minutes.
But that was the end of the whole test.
The system failed to load the listening section until the time elapsed. I tried to reach the proctors but nothing could be done. I got no mail from the ETS (toefl organisers) thereafter regarding the issue. The only mail I got from them was before the test to notify me of successful registration. I have not heard from them till date.

Fast forward 1 week later. (Test fee was about 280$ paid using a virtual card at black market rate. You pay that on registration.)
Test day came.
I was set in the office as requested. Office was empty with chair backing the door, only pc, and passport, and eraseable writing pad with eraseable marker were set on the table.
I used a mobile hotspot as internet connection and proceeded.
First issue came up immediately I logged in for the test. The Proctor I.e the admin at the other end from TOEFL ran a quick test on my system and told me I did not have an up to date windows license on my pc. There was no way around it. I had to get another pc.

I had to have a toefl test done urgently for some academic need. So I decided to take the toefl home edition, it was my only option to beat the deadline.
You can register and pick a date within a week most times, and this is what I did.
I went on the website and checked the requirements: licenced windows version, appropriate OS, adequate camera, and adequate network. I did 3 tests on the website: pc OS, camera, and network. The network test failed but I went ahead with the registration hoping to take the test in the morning when network is generally better.

Great deal, all things being equal. Happy sales.

SOLD. Thank you.