Showing posts with label lagos. Show all posts
Showing posts with label lagos. Show all posts

Sunday, August 25, 2013

Lagos community protests abandonment of World Bank project

WorldStage Newsonline-- Residents of Badia community in Ijora, Lagos have staged a protest to Lagos State House of Assembly overthe abandonment of Lagos Metropolitan Development Governance Projects (LMDGP), a World Bank assisted project aimed at developing shanties and slums within the state, in their domain.

Led by their representative in the House, Muyiwa Jimoh and Prince Kayode Obadiah, a community leader, the protesters displayed various placards with captions such as 'LMDGP, tell us why you want to sack the contractor?' No roads for PSP vehicles,' 'Apapa Iganmu: LMDGP, your system five is a failure,' 'Our houses have been demolished, please help us,' 'Gov. Fashola, we thank you for using good contractor for your roads' among others.
 (LMDGP had embarked on construction of roads, sinking of boreholes, ultra-modern schools, complex and canal constructions which the protesters claim had been abandoned in the area.

In a letter addressed to the state governor, Babatunde Raji Fashola and copied to the Assembly, signed by leaders of the community, it was alleged that LMDGP had taken over the project from the contractor (Seg.Mahen Co. Nig.Ltd). The residents wondered why the project was not re-awarded to another contractor.
"We are writing this letter to our Dear Excellency sir, Mr. Babatunde Fashola (SAN), the governor of Lagos state and the contractor Director, Mr. Dayo Oguntunde representing World Bank in Lagos State to please save our souls.

"The World Bank has visited this community before our communities were enlisted among the areas to be assisted and we are part of Lagos," the statement read.
Some of the projects already abandoned included Canal (System V), which according to the letter was supposed to  serve as alternative to the drainage had stopped since 2011 resulting into serious havoc affecting the whole community.
While championing the cause of his constituency during the protest, Jimoh hinted that "the LMDGP has terminated the project as we speak and has not re-awarded it." He therefore appealed to the state government to urgently intervene to save his constituents from impending danger.
In his response, the chairman, House committee on Information, Strategy, Security and Publicity, Segun Olulade, who represented the speaker, praised the protesters for conducting themselves in a peaceful manner, adding that his colleague Jimoh had been proactive in his determination to making sure that the issue is amicably resolved.
"As a member of committee on Works,  I know the role he has been playing in ensuring that the matter is seriously looked into. I want to assure you that the House would surely look into it with immediate effect," Olulade promised.
Adding that the delay in completing the projects maybe due to the process of re-awarding the contract because the earlier contract has since been terminated because of misunderstanding between LMDGP and the contractor.

Drama Consult premieres today in Lagos


DRAMA Consult, the film by German filmmaker, curator and international programmer, Dorothee Wenner, will be premiered today at the new leisure mall on Adeniran Ogunsanya Street (by Shoprite), Surulere, Lagos. Time is 7pm.

  The film celebrates an ethnographic expedition from Africa to Europe between real life businessmen who travel to meet with potential partners in Germany. Already, it has successfully been premiered at two big festivals — The Festival of Pan African Cinema in Ouagadougou, otherwise called FESPACO and the ongoing 34th Durban International Film Festival in South Africa.

  The film was shot in Lagos and Germany and it features business personalities and experts like Dolapo Ajayi, Sam Aniama, Jude Fejokwu,

Femi Ladipo, Biyi Tunji-Olugbodi, Alhaji Chief Musa Olukayode Adedipe Christian Wessels, and Dazaa Aniama. In the film, the businessmen from Lagos — a spare parts dealer, a real estate developer and a young shoe manufacturer with high-flying plans, accompanied by two smart business consultants, travel to Germany to link up with potential partners and investors.

  The film tracks the process of economic intervention as an adventure trip in the era of globalization. Wenner, who wrote and directed the film, is already in Nigeria ahead of the premiere. Wenner disclosed after the premiere in Durban that she had always wanted to do a film about Africa and Europe and she found Nigeria, which she has visited every year in the last 10 years because of her involvement with the Africa Movie Academy Award (AMAA), a good centre to focus the story.

  She noted, “There are a lot of prejudices about this great country, Nigeria and a lot of misconceptions and I felt that beyond giving the businessmen who are my protagonists the opportunity to explore business opportunities, efforts could be made to correct those other stereotypes like when people say, ‘Nigerian businessmen cannot be trusted.’ But here we see people who are ready to do genuine business and so on”.
  Drama Consult is Wenner’s second film. She produced and directed Peace Mission, a film that provided valuable insight into the Nigerian motion picture phenomenon.

Source

Saturday, August 10, 2013

Fitch Downgrades 13 Distressed Classes of JPMCC 2008-C2 on Dos Lagos Sale

Fitch Ratings has downgraded 13 and affirmed nine classes of J.P. Morgan Chase Commercial Mortgage Securities Trust, series 2008-C2. A detailed list of rating actions follows at the end of this release.
KEY RATING DRIVERS
The downgrades reflect the expected losses after the sale of the largest asset in the pool, The Shops at Dos Lagos (12.4% of the pool).

The Shops at Dos Lagos, a $124 million real estate owned (REO) retail property, was sold July 23, 2013 for $30 million. Including advances, appraisal subordinate entitlement reductions (ASERs), fees and other unpaid amounts of approximately $41 million, the loan loss severity will be approximately 109% on the current loan balance.

Realized losses to the trust will reflect the full principal balance of $124 million. Losses are expected to be incurred as of the Aug. 12, 2013 distribution date. Classes C through Q, currently rated 'Csf' or 'Dsf' by Fitch, will be affected. These classes rated 'Csf' are downgraded to 'Dsf'.

The additional amount of $11.4 million will cause permanent shortfalls to the transaction. These amounts were part of the total $27 million ASER (advances not made due to an appraisal reduction). Therefore, the sales proceeds of $30 million will be used to pay fees, expenses, advances and $16 million of the total $27 million in ASER amounts. The remaining $11.4 million in ASER amounts will not be repaid, while the most senior bondholders with an interest shortfall will recover $16 million in interest. No additional interest is expected to be taken from the trust due to the disposition of the Dos Lagos asset.

The property is a 345,847 square foot (sf) lifestyle/entertainment retail center built in 2006/2007; therefore, the property was not fully stabilized, with no operating history. The loan transferred to special servicing in October 2008 for monetary default after the borrower indicated the property was significantly affected by the downturn in the economy. The special servicer foreclosed on the property and, along with a third party management team, worked to stabilize occupancy. The last reported occupancy was 72.5%.

The property represented phase one of a two-phase, 534 acre development that was significantly pressured by economic conditions in 2009. The development included a residential subsection, a golf course, hotel, office building, a senior housing development and a 135 acre wildlife preserve. The retail center was 95% occupied at issuance; however, occupancy steadily declined to a low of 68% in early 2012. The borrower cited slower-than-anticipated growth in the residential neighborhood for the decline in performance, as tenant sales, rental rates and ultimately occupancy declined.

RATING SENSITIVITIES
The super senior classes' Rating Outlooks are revised to Negative due to the erosion in credit enhancement and continued risk of both principal and interest losses as the pool becomes more concentrated. After the sale of The Shops at Dos Lagos, eight loans (18.4%), including three REOs (1.8%) remain in the pool. Downgrades are possible if expected losses increase or if these classes are affected by repeated interest shortfalls.

Fitch downgrades the following classes and revises Recovery Estimates as indicated:
--$116.5 million class AM to 'CCsf' from 'CCCsf'; RE 50% from 100%;
--$14.6 million class C to 'Dsf' from 'Csf'; RE 0%;
--$10.2 million class D to 'Dsf' from 'Csf'; RE 0%;
--$10.2 million class E to 'Dsf' from 'Csf'; RE 0%;
--$13.1 million class F to 'Dsf' from 'Csf'; RE 0%;
--$11.7 million class G to 'Dsf' from 'Csf'; RE 0%;
--$16 million class H to 'Dsf' from 'Csf'; RE 0%;
--$14.6 million class J to 'Dsf' from 'Csf'; RE 0%;
--$14.6 million class K to 'Dsf' from 'Csf'; RE 0%.
--$8.7 million class L to 'Dsf' from 'Csf'; RE 0%;
--$4.4 million class M to 'Dsf' from 'Csf'; RE 0%;
--$5.8 million class N to 'Dsf' from 'Csf'; RE 0%;
--$4.4 million class P to 'Dsf' from 'Csf'; RE 0%;

The following classes are affirmed and Rating Outlooks and Recovery Estimates revised as indicated:
--$71.2 million class A-3 at 'Asf'; Outlook Negative from Stable;
--$45.6 million class A-SB at 'Asf'; Outlook Negative from Stable;
--$354.6 million class A-4 at 'Asf'; Outlook Negative from Stable;
--$145 million class A-4FL at 'Asf'; Outlook Negative from Stable;
--$60.4 million class A-1A at 'Asf'; Outlook Negative from Stable;
--$61.2 million class AJ at 'Csf'; RE 0% from 40%;
--$14.6 million class B at 'Csf'; RE 0%;
--$2.9 million class Q at 'Dsf'; RE 0%;
--$1.7 million class T at 'Dsf'; RE 0%.

Classes A-1 and A-2 have paid in full. Class X was previously withdrawn.
Additional information on Fitch's criteria for analyzing U.S. CMBS transactions is available in the Dec. 18, 2012 report, 'U.S. Fixed-Rate Multiborrower CMBS Surveillance and Re-REMIC Criteria', which is available at 'www.fitchratings.com' under the following headers:

Structured Finance >> CMBS >> Criteria Reports
Additional information is available at 'www.fitchratings.com'.
Applicable Criteria and Related Research:

--'Global Structured Finance Rating Criteria' (May 24, 2013);
--'U.S. Fixed-Rate Multiborrower CMBS Surveillance and Re-REMIC Criteria' (Dec. 18, 2012).
Applicable Criteria and Related Research:
Global Structured Finance Rating Criteria
http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=708661
U.S. Fixed-Rate Multiborrower CMBS Surveillance and Re-REMIC Criteria
http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=696969

http://www.fitchratings.com/gws/en/disclosure/solicitation?pr_id=799070
ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.

Friday, August 9, 2013

Lagos slum dwellers protest planned cancellation of N3.2b World Bank loan

WORRIED by the risk of missing out of development, slum dwellers in Lagos Wednesday petitioned the Lagos State House of Assembly on the proposed cancellation of Lagos Metropolitan Development and Government Project funded by the World Bank.
   The project, worth N3.2 billion is designed to upgrade the low level of human, social and infrastructural base of communities like Amukoko, Ajegunle, Agege, Badia, Ijeshatedo, Iwaya, Ilaje-Bariga and Makoko among others.

    The slum dwellers, numbering about 100 stormed the Lagos Assembly to protest the plight of over 500,000 Lagosians living in slums and alleged plan by the World Bank office in Nigeria and state officials to suspend the project.
   Led by the Centre for Public Opinion Monitoring (CENPOM), a coalition of 20 civil society organisations, the protesters drew the attention of lawmakers to “impending cancellation by the World Bank and possible transfer of the funds to other elite initiated projects being promoted by a cash and carry commissioner of the state.”
    The petitioners, in a letter addressed to the House, added “at the centre of the plan to truncate the redevelopment of Lagos slums is the Nigerian Country Director of the World Bank who has not hidden her dislike for the continuation of the programme beyond September 2013.”

   They noted that while the Lagos State Government, the beneficiary of the loan and the Federal Ministry of Finance that executed the loan agreement of the project, had supported the continuation of the project through extension for another 18 months, “a move said to be supported by the Internal Task Team of the Bank, the Country Director has blocked the extension, preferring to transfer the remaining funds in the project to another one,” the statement reads in part.

  Zonal Coordinator for CENPOM South West, Segun Adebanji, on behalf of the petitioners, urged the Lagos Assembly to prevail on the Country Director of the World Bank to stop her intention to cancel the project funding for a minimum of 12 months and allow for the completion of all outstanding projects currently abandoned at different levels.

   They also appealed to the Minister of Finance, Dr. Ngozi Okonjo-Iweala, to intervene in the matter, adding that if the matter is not nipped in the bud, the suspension of the project will affect youths and women.
   According to Adebanji, about 17,000 pupils who are to benefit from the 450 new classrooms under the project would have their education in jeopardy; 60 per cent of the uncompleted road and infrastructure projects in these areas will be abandoned.

  Besides, over 50 per cent of the water projects which will provide drinkable water for the over two million people are at risk and over two million people who are involved (60 per cent women and children) would continue to live in poverty and squalor, since all the social upgrading projects will be abandoned.
    Receiving the petition letter, the Speaker, Lagos House of Assembly, Adeyemi Ikuforiji pledged to intervene to ensure that the project, designed to upgrade the low level of human, social and infrastructural base of the communities, is not abandoned.

   Ikuforiji told the demonstrators that the House was concerned about the plight of slum dwellers and promised to engage the state governor and the World Bank to sustain the project

Monday, August 5, 2013

LCCI requires Lagos Government to review plan on usage of 200cc motorbikes

The Lagos Chamber of Commerce and Industry (LCCI) has called on the Lagos State Government to review its policy stipulating that courier companies and dispatch riders in Lagos State must use motorcycles of at the least 200cc convenience of their operations.

LCCI said the policy “is posing a major threat to the businesses of courier companies and other stakeholders in Lagos state. “Many companies that engage in-house dispatch riders for prompt delivery of sensitive documents and servicing of customer outlets

are now in a dilemma. Many courier firms and other corporate bodies in their state are now actually delivering mails on foot,” said a statement signed by Muda Yusuf, the Chamber's director-general.
“200 cc capacity motorcycles are generally unavailable in the country since they are in the number of power bikes, not commonly useful for mail delivery and other commercial purposes. This scarcity has established room for several types of malpractices, including falsification and relabelling of lower capacity motorbikes as 200cc and above.”

In accordance with LCCI, the cost of a motorcycle of 200cc capacity and above, where available, is in the region of N500, 000 to N1 million, depending on the brand, which suggests that for a firm that requires to displace 10 of the motorcycles, at the least N5 million to N10million will soon be required.
“Many courier companies have up to 50 motorcycles. For all of the small players in that sector, this may be the finish of the trail because of their enterprises. Commitment of such resources to the purchase of 200cc motorcycles is just a big drain on the resources of courier companies which will be itself a low margin business,” Yusuf said.
The Chamber argued further that: “Electronic payment companies count on the usage of motorcycles for prompt servicing and maintenance of the various electronic payment platforms including the POS terminals situated in various locations in the metropolis. The response time of the providers is currently at the cheapest ebb.
“We submit that the usage of 200cc (and above) motor bikes wouldn't add any value to the realisation of the goal of the traffic law, especially in the light of the intense traffic congestion on Lagos roads. If anything, smaller capacity motorbikes tend to be more flexible and better suited for a higher traffic environment.
The business of courier is just a pick–up and delivery service, often over short distances. Using a 200 cc motorcycle for such service is obviously inappropriate.”

It further added that the grueling bureaucracy of certification and registration of the 200cc motorbikes have created avenues for several types of malpractices, including touting and that service delivery quality of courier companies has dropped drastically considering that the enactment of the policy which will be going for a toll on other sectors in the state.
“We appreciate, and indeed share the concern of government on the security implications of a liberal motorcycle policy, but there should be a definite distinction involving the commercial motorcyclists and corporate organisations providing services for the smooth running of the economy of the state.

Wednesday, July 31, 2013

Lagos House Plans Emergency Telephone Numbers

LAGOS - The Lagos State House of Assembly has held a public hearing over the proposed Emergency Command and Control Centre.

Commenting on the bill, the Chairman, House Committee on Information, Security, and Publicity, Hon Segun Olulade, explained that the purpose of the centre is to provide emergency telephone numbers for members of the public in times of emergency. He listed the numbers as 676,112.

He added that the centre is to facilitate quick and efficient response to accidents, emergencies and disasters.
Continue..

Monday, July 22, 2013

Dry & Firm Land at Abraham Adesanya Estate, Ajah, Lagos

NGN 8,500,000  

Abraham Adesanya Estate   View MapSize (m2) : 600
- AvailableLot (meters) : 18 X 33
Description
FOR SALE: LAND FOR SALE AT ABRAHAM ADESANYA ESTATE, AJAH, LEKKI PENINSULA, LAGOS

FEATURES:
- Dry and firm land
- Ready for immediate development
- Can occupy two (2) units of bungalows
- Located in the gated estate of Abraham Adesanya Estate

Price: N15million

For further enquiries/ arrangement for inspection, please contact:

BLUEHEDGE REALTORS
+234-1-7605148, 08023224585, 08032065685, 08051956996
info@bluehedgerealtors.com
www.bluehedgerealtors.com
BB PIN: 2ABEDE1B

Sunday, July 21, 2013

The Menace of OmoOnile in Lagos


 A house under construction
The extortion of innocent property owners by touts and  street urchins known as OmoOnile or Agajungbale in different parts of Lagos State has brought to the fore the nuisance which the group, which calls itself the “sons of the soil “ and “children of original land owners,” is constituting to the people. But their days appear to be numbered as a Bill seeking to criminalise their activities is currently making headway at the Lagos State House of Assembly. Olaolu Olusina reports

The day of reckoning is definitely drawing nearer for touts and street urchins known as OmoOnile orAgajungbale in different parts of Lagos State. The inglorious era of shameless extortion of innocent property owners by the group, which calls itself the “sons of the soil” and “children of original land owners,” is about to come to an end.

A Bill seeking to criminalise their activities is currently making headway at the Lagos State House of Assembly as it had actually scaled the second reading and report on it is being expected back in the Assembly.

Modus Operandi
Like the Lords of the Manor, the OmoOnileorganise themselves into armies of occupation, wielding dangerous weapons,  as they storm their targets to demand for ‘settlement’ at almost every stage of development of a property. From the foundation stage to the lintel and through the decking stage of a building, these OmoOnilewould demand ridiculous amount of money before work could start, and in most cases, they are always ready to seize the working tools of any property owner not willing to accede to their demands.

Powerful as they have become over the years, they have succeeded in grabbing land from original buyers, selling same to others, leaving tears, blood and sorrow on their trail. Frustrating genuine investors through multiple demands of ‘settlement fees,’ many property owners have even lost their lives to the activities of these hoodlums, who, in some cases, have godfathers, to whom they make returns.

A  Victim’s Experience
But BabatundeAyoolaFajimi, a Cameroon-based Nigerian entrepreneur and management consultant, did not bargain for what he experienced in the hands of these OmoOnile. Having heard so much about the atrocities being committed daily by the so-called sons of the soil and children of the original land owners, Fajimi was determined not to fall into their trap.

And way back in 2005, while serving in Accra, the Ghanaian capital, he had made a move to acquire a property in the Ogijo area of Ikorodu, a sprawling community on the outskirts of Lagos.  The property located in the Onafowokan Estate, Ikorodu  was bought without any problem from the real owners, the Onafowokan family.

Frivolous Demands
However, trouble soon started when he made the move to develop the property. A group  ofOmoOnile  in the area led by one Fadeyi appeared from nowhere to start making frivolous demands from Fajimi as a condition for starting work on the property.
And for close to a decade, the touts made the family their cash cow as they successfully ‘feasted’ on the Fajimis who had to dole out good money to them each time they tried to do anything on the property. But things got to a head recently when Fajimi’s wife, Ebunoluwa, who owns and manages a school, Living Legacy Private School, on the property, tried to carry out further development projects in the school premises.

Exploitation Galore
Fadeyi,  who had  been extorting money from the family  each time  development works were being carried out on the property since 2005  simply came again to allegedly demand N300,000 before the decking work could  be done . Threatening to wreak havoc and cause confusion if his demands were not met, he thought the Fajimis would concede to his demands this time again. But he was wrong as his ‘preys’ are now wiser now.
Fajimi would have nothing of the threat again, having paid huge sums of money to Fadeyi, who, in fact, has no relationship whatsoever with the Onafowokan family, which sold the land to him.

Saying No to Further Demands
Moving swiftly, Fajimi was determined to end the extortion once and for all. And from his base in Cameroon, he made moves to contact some of his friends who could be of assistance. In one of the mails sent to one of his friends, copy of which was made available to THISDAY, Fajimi stated: ”There is this Omo-onile called Fadeyi … whom I didn’t buy land from his father but has been extorting money from me. He has come with his threats again. I have declined and started talking to my friends in (the) security services. I do my business in Cameroon but my wife owns a school at Ogijo/Ikorodu.

“We are decking coming Saturday and he threatens to disrupt and constitute threats to lives and property. I have written electronically to Nigeria Police and SSS … I am also trying to reach out to my other friends … so that the atrocities of illegal extortion of the guy called Fadeyi can be known to the world. You will get more details that you can verify.”

Petition to SSS, Police
Apparently determined to end the years of extortion by the so-called Omo-onile, Fajimi also sent a letter dated July 1 to the Nigeria Police and the State Security Services (SSS) in which he stated:  “I am BabatundeAyoolaFajimi, Nigerian, Entrepreneur and Management Consultant resident at…Off SagamuIkorodu Road with contact telephone number …. I currently work for my client in Limbe, Cameroon ...

“My wife, Mrs. EbunoluwaFajimi…owns and manages her school, Living Legacy Private School  .  We are currently carrying out development projects in the school premises, and one OmoOnile named Fadeyi with telephone number … who has been extorting money from me each time we carry out development works since 2005 has come again to demand N300,000 before I can do the decking work. There is no basis for demanding this money. It is a clear case of extortion and criminality.
“ I have declined his illegal demands and he has threatened to stop the work and unleash mayhem in the school premises thereby constituting threats to my life, the lives of my family members, the lives of the teachers and pupils in the school numbering 200 innocent Nigerians.

‘’ For the records, I didn’t buy land from his fathers. I bought land from the Onafowokan Estate family in Ikorodu, a reputable family which has  not,   to date, to the best of my knowledge,  use Omo-onilenor indulge this Fadeyi man.
“I plan to do the decking work on Saturday, July 6, 2013 and I foresee that this  Fadeyi would mobilise touts and area boys to cause disturbance of public peace and lawlessness.   I am a law-abiding Nigerian who goes about my business peaceful and contributing to the economic development of the country by employing over 25 other Nigerians through the School and my consultancy firm, Kairos Business Services Limited. The intent and action of this Fadeyi constitute a threat to my peaceful existence as a Nigerian and the lives of other Nigerian citizens and pupils numbering over 200.

“I am using this medium to appeal for intervention, please. I will also appreciate if I can get a contact number to further discuss the details. I intend to come to Nigeria from Douala on Thursday this week to ensure that justice is done, and this Fadeyi man is called to order by the appropriate institution of government. “

We are not Trouble Maker, Says Fadeyi
When THISDAY called Fadeyi for his reaction on all the allegations made against him, he said  he was not a trouble maker. “The issue has been resolved amicably. Though they didn’t buy the land directly from us, the person who sold the land to them asked them to give us something (money).

The grandmother called to plead with us. We all have our property here too. The man (Fajimi) is not a trouble maker, but the wife is always misunderstanding us,” Fadeyi told this reporter.
But Fajimi said Fadeyi was only lying. “We have decided to stop this extortion which has been going on since 2005. I was in Ghana , Sierra Leone and now Cameroon but this man won’t stop his frivolous demands . The last time, we paid him N300,000 and now he’s threatening again to cause trouble if we don’t bulge this time around,” he said.

Police to the Rescue
But the signal had been given to Fadeyi and his group as they appeared to have realised that the game was over for them. In the face of the determination to end the years of exploitation, the OmoOniles seemed to have read the handwriting on the wall that they have lost their cash cow.

And with the Police responding promptly to the petition sent to them, THISDAY gathered that a police patrol team was permanently stationed at the project site penultimate Saturday to enable the Fajimis carry out development work on their property without hinderance.

Highly elated by the relief, Fajimi told THISDAY that the Police really did a good job by responding promptly to his call. “I’m indeed grateful to the Police and all those who responded promptly to our call. The Police came and stationed a team to keep watch over the area.  “The boys may have been deterred by this as none of them showed up to disturb us as they had threatened, though some of them could be seen passing and spying at what was going,” Fajimi told this reporter.

Lagos Mulls Stiffer Law
Though Fajimi is currently savouring the joy of his ‘liberation’ from the OmoOnile, hundreds and thousands of other residents of the state are still being terrorised by these street urchins. But succour seems to be on the way as the Lagos State House of Assembly is currently working on a private member Bill that will criminalise the activities of the so-called OmoOnile in the state if passed into law. Already, progress had been made on it as the Bill had already scaled the second reading at the Assembly.

Appropriately tagged the State Properties Protection Bill  2013, the Bill, which seeks to slam  a three-year jail term on anyone found guilty, makes it an offence for any person or group of persons  to forcibly enter and occupy any landed  property in the state.
Providing for the establishment of a special court and stipulating a fine of N300,000 or three years imprisonment for any person found guilty, the Bill, when passed into law, seeks to commit anyone found with fire arm, weapon or chemical material or in company or any person so armed  to a death sentence.    

The report on the Bill, which had already been committed to the Committee on Lands and Housing, as well as Judiciary, Human Rights and Public Petitions, is expected back  in the Assembly any time from now.

Fashola Determined to End Menace
The state governor, Mr. Babatunde Fashola, had,  in April, expressed the determination of his administration to tackle the menace headlong.   Speaking at the second Corporate Assembly at the Lekki Free Trade Zone (LFTZ), Lekki, Lagos, he had lamented what he described as the unwholesome activities of the group.

Disclosing that a Bill had been sent to the Lagos State House of Assembly to criminalise illegal land grabbing which has assumed a frightening dimension in Lagos, Fashola said   the Bill, when eventually passed into law, would completely phase the OmoOnile  out of the state.

The Bill, which is already receiving the support of most members of the State Assembly, according to  the chairman, Committee on Lands and Housing, Hon. BayoOsinowo,   would end the  havocs being wreaked by the street urchins.
“In Lagos State, land is our major resource.  It is our petrol compared to oil producing states in the country,” he said, stressing that nothing would be too much to protect its sanctity.

In his own submission, the chairman, Committee on Judiciary, Human Rights and Public Petition, Hon. SanaiAgunbiade, expressed the hope that  the Bill would also take care of land agents, who, according to him, parade themselves and seize the opportunity to take landed property forcefully, saying  “The bill would protect potential buyer(s) from OmoOnilebefore or during construction work.”       

Source

Saturday, July 13, 2013

Lagos flags-off certification of house agents


AS section of its decision to wash up the rot in the estate organization area, the Lagos State through its True House Purchase Regulatory Power, a week ago revealed that it had started issuance of validation permits to customers of Lagos State part of House Rent and Commission Agents Association of Nigeria (ERCAAN).

The shift came almost a year following the team began procedures to checkmate the activities of some estate brokers who often gather income from simple customers beneath the guise of having accommodation for them.

  Talking at the unveiling of a taskforce group and one year anniversary of the ERCAAN professionals, the agency's Assistant Common Manager and Mind, Control Tracking and Administration, Mrs. Linda Patunola-Ajayi, disclosed that the organization has already began supplying permits to brokers even while it would soon start enforcement.

Patunola-Ajayi further stated that ministries and agencies in Lagos had recently been given directives never to patronize unregistered brokers putting that the human body would start enforcing the laws with special help from enforcement officers drafted to the agency.

According to her, high property demand in their state has created the field vunerable to punishment by people who take part in a number of un-salutary practices to the detriment of the citizens.

  A source hinted that the enforcement group would move into the area in September.

Earlier in the day, Chairman of ECRAAN Lagos section, Mr. Godwin Alenkne, said the association is a key supporter for regulation of the real estate profession in Lagos State even while the association had received the highest amount of forms.

Alenkne also referred to as on the Lagos state organization to speed up the process of certification to ensure that enforcement can start immediately. 

He explained that the create of the taskforce was to spot fake real estate brokers and enforce standards.

He explained, “For people discipline must begin within and our customers must attain the highest level of discipline before the typical public. The marshals are to coordinate and pronounce our signal of perform as within the structure of the association at all times&rdquo ;.

 According to Alenkhe, ERCAAN customers across their state have initiated subscription in 42 areas in 52 Local Council Growth Region and happen to be obtaining LASRETRAD subscription forms.

The procedure of pinpointing people suitable to be licensed as estate brokers involves creating a repository that may metamorphose in to a special House Representative identification quantity (EAIN) in the State.

The Database Administration may ultimately result in issuance of permits to apply as House Agents in the State through an automation process.

A compendium of principles and regulations has been created to guide the practice of True House in Lagos State, while preliminary information regarding practicing estate brokers, licensees and different applicable companies can be tested on the Office internet website which is start soon. 

Tuesday, July 9, 2013

Lagos Property: Properties in Maryland, Real Estate Listings in Maryland Lagos Nigeria Properties



5 bedroom all en-suite
Adequate Parking Space (10 cars)
Lush green grounds
Compound finished with interlocked pave stones

Title: Registered Title
Price: 275m

Contact:
Accryda Associates
7, Oluwaleimu Street
Off Toyin Street
Ikeja, Lagos.
Tel. 234 805 8021 495, 234 809 4025 634

Other Details: Number of Bedrooms: 5, Number of Bathrooms: 5



Sunday, July 7, 2013

Lagos Property: A well structured house for sale in ikotun lagos

NGN 55,000,000  negotiableBedrooms : 5Bathrooms : 5
3,celestial road igando  234 View MapSize (m2) : 400Year Built : 2001
Code : 07033181041 - propertiesLot (meters) : 120 X 240Land Size (hectares) : 3.00
Description
the house is very close to the the road, it has twelve shops on a Conner piece, the interior of the building is en suit with all modern design such as tiles,kitchen cabinet,nice roof,etc both the interior and exterior is full of necessary facilities such as electricity,water etc the place is fully developed.the building can be use for residential purpose and commercial purposes such as: bank,company etc..

Saturday, July 6, 2013

Real Estate firm recruiting Independent Marketers in Lagos


Our company, a reputable real estate firm, with offices in both Lagos Island and Mainland, urgently request the positions of Independent Marketers for immediate employment.
Requirements: Attributes of enthusiasm & creativity drive excellent verbal presentation & good interpersonal skills previous marketing experience in real estate & investment firm will be an advantage
Lagos residents only
Renumeration: Successful candidates can make as 1million per month.

Interested candidates should send application to: realestatevacancy@yahoo.com

Monday, July 1, 2013

Lagos Property: NEW 4 BEDROOM DUPLEX WITH BQ AT BUENA VISTA, LEKKI



NGN 1,500,000  Bedrooms : 5Bathrooms : 5
Buena Vista Estate  By 2nd tollgate View MapSize (m2) : 600Year Built : 2012
Code : Well secured estate - AvailableLot (meters) : 18 X 36
Description
FOR RENT: Brand new and superbly finished 4 bedroom duplex with BQ at Buena Vista Estate, Lekki - Lagos.

FEATURES:
- All room ensuite with ensuite boysquarter
- Very clean property
- Serene and secured estate
- Clean and constant water supply
- Stable electricity supply
- Very close to second tollgate, after Chevron roundabout
- One year rent acceptable

Rent: N1.5m per annum

For further enquiries/ arrangement for inspection, please contact:

BLUEHEDGE REALTORS
+234-1-7605148, 08023224585, 08032065685, 08051956996
info@bluehedgerealtors.com
www.bluehedgerealtors.com

Saturday, June 29, 2013

Lagos Property: 5 BEDROOM TOWNHOUSE FOR SALE AT LEKKI, LAGOS



NGN 120,000,000  Bedrooms : 5Bathrooms : 6
Off Admiralty Road   View MapSize (m2) : 500Year Built : 2013
- AvailableLot (meters) : 36 X 72
Description
FOR SALE: Brand new and superbly finished 5 bedroom townhouse Off Admiralty Road, Lekki - Lagos.
FEATURES:
- All room ensuite with courtyard
- Two (2) Sitting rooms
- Very clean property
- Serene and secured area
- Clean and constant water supply
- Stable electricity supply
- Very close to Tantalizers in Lekki
Price: N120 million
For further enquiries/ arrangement for inspection, please contact:
BLUEHEDGE REALTORS
234-1-7605148, 08023224585, 08032065685, 08051956996
http://www.bluehedgerealtors.com
info@bluehedgerealtors.com
BB PIN: 2ABEDE1B