Sanwo-Olu probes alleged land scam by Revolution Plus Property Company
By Adeola Ogunrinde
The governor of Lagos State, Mr. Babajide Sanwo-Olu, has begun probe of an alleged land scam by a real firm, Revolution Plus Property.
Sanwo-Olu directed Lagos State Real Estate Regulatory Authority (LASRERA) to commence investigation into a viral video clip made by Mr Kayode Oladipo about 20 plots of lands he supposedly bought in 2017 from the company without any physical allocation of the said plots.
The directive made the Commissioner for Housing, Hon. Moruf Akinderu-Fatai, Special Adviser to Lagos State Governor on Housing, Barr.Barakat Odunuga-Bakare and Permanent Secretary, Lagos State Ministry of Housing, Engr. Gbolahan Toriola, to invite the management of the company for fact finding.
Meanwhile, the Commissioner for Housing said the fact-finding would help find lasting solutions to frequent reports of fraudulent practices in the State’s real Sector.
The members of the investigation team reiterated the resolve of the State government to investigate the allegation against RevolutionPlus Limited in line with LASRERA Law 2022.
According to the team, LASRERA Law 2022 empowers the agency to investigate petitions and complaints from members of the public to protect and promote sanity as well as boost further investors’ confidence both at home and foreign investments for the sector in Lagos State.
The CEO/MD of the real estate company, Dr.Bamidele Onalaja, who led the management of the company to the meeting, affirmed that Mr. Kayode Oladipo (complainant) subscribed for 20 (Twenty) plots of land from RevolutionPlus Property Limited at Dallas Court, Lekki and Royalty Gardens, Ajah, in Lagos State.
Onalaja explained that 2 (two) out of the original 20 plots were fully paid for by the client, while the necessary documentation has been completed and handed over to him.
He added that the remaining 18 (eighteen) plots of those land have not been fully paid by Oladipo as he flouted the payment agreement on the contract.
Onalaja said that property not fully paid for with its associated costs would not be processed based on contract conditions because, in case of non-compliance, the company policy requires the relocation of such subscriber to another site upon completion of payment or refund of the deposited sum less 40%( forty percent).
He noted that having defaulted in his payment pattern, RevolutionPlus Property Limited relocated him to another land site at Amazon Estate, Epe, which he declined while the option of refunding the sum advanced was also rejected by the complainant.
Onalaja said that the company has finalized the allocation of 5 (five) plots to Oladipo at Amazon Estate based on the payment made with necessary documents forwarded to him.
The CEO also added that Oladipo did not pay N40,000,000.00 (Forty Million to the company as claimed in the viral video, urging members of the public to disregard his claims as untrue and misleading.
However, in the course of the committee’s investigation, Oladipo who was contacted on the phone, maintained that he paid the deposit sum of N18,606,000.00 (Eighteen Million, Six Hundred and Six Thousand Naira to RevolutionPlus Property Limited in 2017.
He said that along the line, he lost his job and could not continue with the payment as he initially agreed.
Oladipo confirmed that he declined the option of relocation to Amazon Estate in Epe, urging the state government to compel RevolutionPlus Property Limited to allocate his subscribed plots of land to him.
The investigation Committee explained to Oladipo that having defaulted in his payment arrangement, the real estate company has the right to offer the option of relocation to another site equivalent to money paid or the option of refund of the amount paid less 40% as stipulated in the agreed contract of sales by both parties.
After the deliberations by the Coommittee, Oladipo agreed to accept the allocation of (5) plots of land at Amazon Estate which is equivalent to the present value of his payment.
