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Residents Sue Managers of Diamond Estate Lagos

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By Dipo Olowookere

Property owners and residents of Diamond Estate in Ajah area of Lagos have sued the estate’s management at an Epe High Court.

They are alleging breach of agreement on provision of social facilities reached when they purchased land for their buildings.

Hearing of the suit was, however, stalled due to absence of the defence.

The suit was filed through a Writ of Summons by Mr. Faustinus Brai, on behalf of himself and other property owners and residents of Diamond Estate, Sangotedo, Lagos through their counsel, Johnson Bryant.

The second claimant in the suit before Justice Ganiyu Safari is Incorporated Trustees of Diamond Estate Property Owners and Residents Association.

The first and second defendants in the suit are Femab Properties Limited and Diamond Estate Limited respectively.

Although the suit was scheduled for mention, neither the defendants nor their counsel was present in court.

Counsel to the claimants, Paul Olaniyi told the court that he was surprised at the absence of the defence who he said promised to be in court or send a representative, having constantly reminded him of the date for hearing of the suit.

Olaniyi however drew the attention of the court to the issue of the ‘res’ which he said has been tampered with by the defendants.

“The defendants have tampered with the’res’ by leasing a part of the project to a network provider which has installed a mast at the site provided in the residential area.

“My Lord, the defendants have continue to trample on the rights of the occupiers and do not care for their welfare”, he told the court.

Asked by the court, Olaniyi said claimants have opted for trial, having concluded CMC and explored Alternative Dispute Resolution (ADR ) without success.

The registrar, on enquiry by trial judge, said counsel to the defendants called him, seeking for adjournment of the matter to a date in January.

The claimants are asking the court for a declaration that the first and second claimants are entitled to all facilities represented by the first defendants and an order for the provision of all outstanding facilities detailed in the first defendant in its ‘offer prospectus’ and that the facilities shall comply with acceptable international standards.

In the alternative, they asked the court for an order appointing a project manager who shall be responsible for the appointment and supervision of contractors for the provision of the outstanding facilities in compliance with acceptable standards and for same to be at the full expense of the first defendant, Femab Properties Limited.

In addition, they asked the court for a declaration that the second claimant, as a trustee to the beneficial property owners and residents of the Diamond Estate, Sangotedo, Ajah, Lagos are at liberty to decide who manages the joint facilities in the estate and that the unilateral appointment of the second defendant by the first defendant, without the authority of the first claimant and other property owners is ab initio, null and void.

They asked the court for an order of perpetual injunction restraining the second defendant from providing estate management services for Diamond Estate directing and directing the company to vacate the facilities and the estate.

They also want the court to order the first defendant to give an account of all monies paid on behalf of and received from all members of the second claimant.

In their 28 paragraph statement of claim, they averred that the second defendant has consistently shown lack of expertise, ability and capability in managing the facilities in Diamond Estate and left a lot to be desired by the residents and that in a bid to ensure efficient management of the facilities and pursuant to their constitution, have indicated interest in taking over their management as trustees to its members.

Rather, they said the second defendant unilaterally sub-contracted the facilities management of Diamond Estate to Horty Benade Company.

They averred that they have been grossly disappointed and dissatisfied with the services offered by the second defendant despite meetings held with first and second defendants to register their grievances regarding their services and that in a bid to ensure accountability with regard to service charge for estate facilities maintenance, previously paid to second defendant, they resolved at a meeting, to pay the said service charge to the second claimant’s bank account.

They said that prior to that, the first claimant and other property owners had been paying their service charge to the second defendant through the first defendant.

They said that they allowed themselves to be persuaded by the first defendant to allow the management of the estate’s facilities by the second defendant notwithstanding its unilateral appointment and engagement by the first defendant.

According to them, the first defendant has till date continually refused and failed to provide most of the facilities as represented in its offer prospectus despite consistent entreaties made to this effect by the second claimant to the first defendant, while those provided are yet to be completed.

They contended that since their resolve to cede maintenance of the estate facilities to the second claimant, it has by virtue of its constitution registered with the Corporate Affairs Commission, reserves the power to manage the affairs of the estate.

However, the defendants, in their joint statement of defence and counter claims, while admitting the averments of the claimants in paragraphs 1, 4, 5, 7, 9, 10, 11 and 20 denied paragraphs 2, 3, 8, 12 to19 and 21 to 26.

The defendants, challenged the claimants to produce the originals of the documents in their possession that are relevant to the suit in court.

They expressed surprise at the suit and averred that it was to embarrass and sabotage their business and contended that the claimants are not entitled to any of the relief sought from the court.

They contended that the action of the claimants “is frivolous, vexatious, embarrassing, unfounded, gold digging and should be dismissed with substantial cost.

They argued that contrary to the claims of the claimants, the right to manage Diamond Estate was irrevocably vested in the first defendant in line with code of conduct duly executed by all the property owners.

While contending that they have capacity and personnel to manage facilities provided in the estate prudently and efficiently, they also alleged that the claimants have been forcing the residents of the estate to be paying service charge to them and thereby frustrating their effort to meet its obligation to the residents.

The defendants claimed to have been transparent in its dealing with the residents with regards to spending of service charges received from them and rendering account to the property owners and residents consistently, even when they did not demand for them.

They denied ever holding any meeting with the second claimants but only with the residents of the estate to discuss issues of their welfare.

They averred that the first claimant registered the second claimant without their knowledge and consent and property owners of the estate.

They further averred in their counter claim that the name that was approved by residents of Diamond Estate to be registered at a meeting held November 2015 was Diamond Owners Association.

Justice Safari has adjourned the matter to December 5 for trial, having obtained the commitment of the claimants’ counsel to inform the defence of the new trial date.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via [email protected]

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Swedfund Puts Down $20m for Green Business Growth in Africa

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Green Business Growth

By Aduragbemi Omiyale

About $20 million has been put down by Swedfund to support efforts that limit climate change in Africa and help communities adapt to its effects.

The funds would be deployed by the Helios Climate, Energy, Adaptation and Resilience (CLEAR) Fund to back African companies that reduce emissions, strengthen resilience and create green jobs.

Swedfund’s investment is expected to contribute to significant cuts in greenhouse gas emissions and to help businesses and small farmers adapt to a changing climate.

The investment strengthens Swedfund’s work to drive a sustainable and inclusive green transition in Africa.

Africa contributes less than 3 per cent of global carbon emissions but faces some of the most severe climate impacts. At the same time, the continent’s energy demand is expected to triple by 2050.

Swedfund’s investment in Helios CLEAR will help channel capital to businesses that drive low-carbon growth in areas such as renewable energy, sustainable transport, climate-smart farming, efficient use of resources and digital climate solutions.

“By investing in this sector, we can reduce emissions, build resilience and create green jobs, all vital for sustainable growth that benefits more people.

“Africa currently receives only a small share of global climate investment, yet the potential for climate-smart business is enormous.

“Through Helios CLEAR we help build the next generation of African climate-focused businesses,” the Investment Director for Energy and Climate at Swedfund, Ms Gunilla Nilsson, stated.

Helios CLEAR Fund is a Pan African growth equity fund managed by Helios Investment Partners, one of Africa’s leading private equity firms.

The fund targets investments that deliver measurable climate mitigation and adaptation outcomes. The fund is supported by multiple development finance institutions.

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Lawmaker Alleges Alterations in Gazetted Tax Laws

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Abdussamad Dasuki

By Modupe Gbadeyanka

A member of the House of Representatives, Mr Abdussamad Dasuki, has alleged that the gazetted tax laws are different from the ones passed by the National Assembly.

Speaking on Wednesday during plenary at the green chamber, the opposition lawmaker the emphasised that content of the tax laws as gazetted was not what members of the parliament debated, voted on and passed.

In June 2025, President Bola Tinubu signed the four tax reform bills into law, becoming an act. The new laws are the Nigeria Tax Act (NTA), 2025, the Nigeria Tax Administration Act (NTAA), 2025, the Nigeria Revenue Service (Establishment) Act (NRSEA), 2025, and the Joint Revenue Board (Establishment) Act (JRBEA), 2025.

In September, they were gazetted by the federal government.

On the floor of the House yesterday, presided over by the Speaker, Mr Tajudeed Abbas, Mr Dasuki, while raising a matter of privilege, after reviewing the gazetted law and what was passed, he found out some discrepancies, appealing to the Speaker to ensure that all relevant documents, including the harmonised versions, the votes and proceedings of both chambers, and the gazetted copies currently in circulation, are brought before the Committee of the Whole for scrutiny by all members.

He warned that allowing laws different from those duly passed by the National Assembly to be presented to Nigerians would undermine the integrity of the legislature and violate constitutional provisions.

“Mr. Speaker, I will be pleading that all the documents should be brought before the Committee of the Whole.

“The whole members should see what is in the gazetted copy and see what they passed on the floor so that we can make the relevant amendment. Mr Speaker, this is the breach of the Constitution.

“This is the breach of our laws, and this should not be taken by this House,” Mr Dasuki said when rising under Order Six, Rule Two of the House Rules on a Point of Privilege.

In his remarks, Mr Abbas promised that the parliament would look into the matter.

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Mining Marshals Reclaim 90 Illegal Sites, Prosecute 300 Offenders

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Mining Marshals

By Adedapo Adesanya

Over 90 illegal mining sites have been reclaimed and 300 offenders prosecuted since the deployment of the Mining Marshals, a specialised task force established to secure Nigeria’s mineral assets.

This information was disclosed by the Minister of Solid Minerals Development, Mr Dele Alake, at the South West Leaders Conference held recently in Akure, the Ondo state capital.

He described the crackdown as a turning point in the battle against mineral theft and insecurity in mining communities.

“We created the Mining Marshals to tackle insecurity and illegal mining head-on. I’m proud to say that peace is returning to our mining fields,” he said.

According to Mr Alake, the initiative has strengthened investor confidence and improved government revenue.

“When you protect the minerals, you protect national wealth. That’s exactly what we’ve done with the Mining Marshals,” he stated.

He noted that beyond arrests and reclamations, the Marshals have restored safety in key mining corridors and curbed the activities of illegal foreign operators. “We are taking back control of our natural resources from criminal networks,” Mr Alake emphasised.

The minister reiterated the government’s commitment to maintaining the momentum through digital surveillance, stronger local intelligence, and inter-agency coordination.

“Our success proves that security is the bedrock of sustainable mining. We will keep refining this model until every site in Nigeria is safe, legal, and productive,” he added.

Launched last year, the marshals were given the mandate to stem theft and all nefarious activities around the nation’s minerals so that benefits are not extracted by the wrong people.

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