By Modupe Gbadeyanka

Efforts are already being taken to tackle the rising incidence of fraudulent real estate transactions in Lagos State.

At a meeting on Wednesday, the Economic and Financial Crimes Commission (EFCC) and the Lagos State Real Estate Regulatory Authority (LASRERA) resolved to strengthen collaboration to address the issue.

Speaking during an interactive session, the Permanent Secretary of LASRERA, Mr Gbolahan Toriola, informed the acting Zonal Director of the EFCC’s Lagos Zonal Directorate 2, Mr Bawa Usman Kaltungo, the agency was determined to sanitise the real estate sector, protect investors and restore public confidence in property transactions across the state.

He explained that LASRERA was established to regulate real estate transactions in Lagos State and protect residents from fraudulent practices within the sector.

“Some developers build housing units and fraudulently sell or lease the same properties to multiple subscribers, resulting in numerous disputes,” he stated.

Mr Toriola further disclosed that LASRERA usually attempts mediation before resorting to litigation, while seeking the continued support of the EFCC in resolving cases with criminal elements.

“We came to seek your assistance in addressing these issues. This year alone, we have received over 505 petitions and have attended to more than 300,” he said, adding that under Lagos State law, every real estate developer must register with LASRERA before commencing operations.

While expressing appreciation to the officers of the commission for their commitment to protecting investors, Mr Toriola noted that the regulatory framework also covered estate agents, lawyers, landlords and tenants.

Also speaking, the Assistant Director for Legal Unit at LASRERA, Ms Jumoke Omosanya, said the authority was established following numerous petitions received by the Lagos State Government over widespread real estate fraud.

She recalled that LASRERA first sought collaboration with the EFCC in 2023 to curb fraudulent activities within the sector.

According to her, “Some developers fail to deliver projects within agreed timelines, while others fraudulently rent out the same properties to several tenants, causing avoidable disputes and financial losses.”

She also noted that LASRERA possesses statutory powers to suspend erring developers and reiterated that anyone operating as a real estate developer or agent without registration with the Authority was doing so illegally.

Ms Omosanya further disclosed that the Lagos State government was currently working on amendments to the Lagos State Tenancy Law, 2015, to further strengthen regulation within the real estate sector.

In response, Mr Kaltungo said his organisation had become increasingly concerned about the rising incidence of fraudulent real estate transactions across the state.

“We have been deeply concerned about the increasing incidence of real estate fraud. The majority of petitions that come to us are allegations of real estate fraud,” he said.

He lamented that many investors and subscribers had lost substantial sums of money to fraudulent developers, adding that Nigerians in the diaspora were gradually losing confidence in investing in the nation’s real estate sector due to the activities of unscrupulous operators.

“A lot of investors and subscribers are losing their money. Nigerians in the diaspora are also losing interest in buying houses in Nigeria because some of them have been defrauded of millions of naira,” he said.

Mr Kaltungo assured LASRERA of the commission’s readiness to collaborate in tackling the menace, stressing that the directorate would investigate every genuine petition regardless of the amount involved.

“We are always ready to assist, irrespective of the amount involved. We have removed the threshold because no matter how little a person’s money is, it is important, and every victim deserves justice,” he said.

He also urged LASRERA to strengthen its regulatory framework by seeking legislative backing to blacklist developers found guilty of fraudulent practices, noting that such measures would serve as a deterrent to others.

In her remarks, the Head of Legal and Prosecution Department for Lagos Zonal Directorate 2 of the EFCC, Mrs Deborah Ademu-Eteh, disclosed that the agency was planning a seminar for real estate developers in Lagos State to sensitise them on legal compliance and consumer protection.

Mrs Ademu-Eteh highlighted recurring complaints against developers who demand additional payments from subscribers after completing projects.

She also recounted a case in which a subscriber who paid N80 million for an undelivered property was subsequently sued by the developer alongside the EFCC in a fundamental rights enforcement action, leading to damages being awarded against both the subscriber and the Commission.

She noted that the EFCC often encourages mediation in appropriate cases before proceeding with prosecution and urged LASRERA to intensify public enlightenment campaigns to educate residents on safe real estate transactions.

By Modupe Gbadeyanka

The Lagos Judicial Division of the National Industrial Court has ordered Delta Marine Shipping Company to pay three crew and seamen the sum of N24.5 million in unpaid wages within seven days.

The benefiting seafarers are Mr Akegor Mudiaga Micheal, Mr Lambert Chimankpa Nsoha, and Mr John Silvanus Boham. The payment is for their unpaid wages from April 2019 to June 2021 within 7 days.

The trio instituted the action against Delta Marine Shipping Company seeking the payment of outstanding wages earned while serving as seafarers onboard the vessel, pursuant to their respective contracts of employment.

They submitted that they had faithfully discharged their duties onboard the vessel but were not paid their salaries covering the years April 2019 and June 2021 despite repeated demands.

The claimants averred that they wrote letters of complaint and reminders to the Managing Director of the company and the Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA) regarding the non-payment of their wages, all to no avail.

However, the defendant failed to enter an appearance nor file any defence. The company also failed to cross-examine the claimants’ sole witness, and the court consequently foreclosed its right to cross-examination and defence.

In a well-considered judgment, Justice Isaac Essien held that the evidence tendered by Mr Akegor and 2 others, including their contracts of employment, seamen’s records, certificates of discharge, letters of complaint and the schedule of outstanding salaries, remained unchallenged and uncontroverted.

The court found that the evidence established that Mr Akegor and 2 others were entitled to recover their outstanding wages from Delta Marine Shipping Company.

Justice Essien further held that the claimants had discharged the burden of proof placed on them and were entitled to judgment for the outstanding wages claimed for services rendered onboard MT. Favour from April 2019 to June 2021.

By Modupe Gbadeyanka

A leading gas and power company in sub-Saharan Africa, Axxela Limited, has expanded its natural gas pipeline network with new customers.

The new customers include Radisson Blu Anchorage Hotels, Sheraton Hotels, Jawa International Limited, Solem Agro, and Abimbola Agro, among others.

The company’s customer connections span the manufacturing, hospitality, pharmaceutical, and fast-moving consumer goods (FMCG) sectors.

The new clients were facilitated through Gaslink Nigeria Limited (Gaslink), one of Axxela’s subsidiary companies.

“These connections go beyond the expansion of our customer portfolio; they reflect our commitment to broadening energy access for businesses across critical sectors of the economy and supporting Nigeria’s drive towards increased domestic gas utilisation.

“By enabling these businesses to embrace cleaner and more affordable energy solutions, we are helping to improve their operational efficiency while also supporting their environmental sustainability goals,” the Executive Vice President for Axxela Gas Distribution, Mr Kehinde Alabi, said.

“We recognise that collaboration with key players across diverse sectors is essential to powering industries and shaping a more sustainable future for Nigeria and the region.

“These new connections underscore our commitment to expanding domestic gas use, reducing carbon footprints, and providing cost-effective energy alternatives in line with the Federal Government’s energy transition objectives,” he added.

Through its growing infrastructure investment footprint, Axxela continues to play a pivotal role in unlocking the economic potential of natural gas by advancing domestic gas utilisation, enabling industrialisation, and supporting a sustainable energy transition in line with the federal government’s vision of a gas-powered economy.