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In response to the November 2021 collapse of a high-rise at 44BCD, Gerrard Road, Ikoyi, fifteen subscribers have filed a lawsuit against the Lagos state government.

No less than 42 people died as a result of one of the three towers, the “360 Degrees Towers,” collapsing.

 

It was understood that a number of senior lawyers, pastors, a king-elect and a female oil magnate invested over N15 billion in the property that was being developed by Fourscore Heights Limited, a company promoted by Femi Osibona who also died in the tragedy.

 

The writ of summons, dated August 12, 2022, and marked Suit No LD/3962LM/22, was filed on behalf of 15 of the subscribers by A.U. Mustapha, a senior lawyer, before a Lagos state high court.

 

Named as defendants are the governor of Lagos state, the attorney-general of Lagos, the state ministry of physical planning and urban development, the Lagos State Building Control Agency (LASBCA) and Edge of Design Limited.

 

The claimants are seeking general damages of N200,000,000 and another N50,000,000 as the cost of filing the suit.

 

Among other reasons, they want the court to rule that:

 

The agreements between Fourscore Heights Limited and each of the claimants to acquire units of flats, with agreed considerations paid, entitle the claimants to equitable rights and interests in the other two towers at 44BCD, Gerrard Road, Ikoyi;

The first, second, third and fourth defendants were negligent in the performance of their duties by failing and/or neglecting to supervise the construction of one of the three towers;

That the first, second, third and fourth defendants cannot benefit from their negligence by compulsorily, wrongfully, illegally and punitively acquiring or threatening to acquire the property at 44BCD through forfeiture and/or purported forfeiture to the Lagos state government following the collapse of one of the towers;

Any demolition of the two other towers when independent evidence of an unfavourable non-destructive test results has not been produced will adversely affect the equitable interests of the claimants in the said properties;

The claimants’ equitable interests in the property cannot be expropriated and/or divested by the government of Lagos state or any of its agencies.

The “overt move” and the action taken and being embarked and contemplated to be embarked upon to demolish or preparing to demolish the structures of Towers 2 and 3 of the property is a flagrant violation of the Claimants’ equitable interest in the aforesaid property.

The claimants are asking for a court order preventing the defendants from entering or entering again, or from demolishing or further demolishing the properties known as Tower 2 and Tower 3 until the Council for the Regulation of Engineering in Nigeria has conducted an independent audit of the property (COREN).

 

They also seek an order of perpetual injunction restraining the defendants from disturbing, interfering with, taking, receiving or in any way taking possession of, demolishing, divesting and/or revoking the title, disposing of all or any part of the property, landed or otherwise.

 

During the court’s yearly break, the claimants have asked the judge to approve an ex-parte originating motion.

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AARE ADETOLA EMMANUELKING ADVOCATES FOR CONSOLIDATION BEFORE TRANSFORMATION AS LAGOS REDAN CHAIRMANSHIP ASPIRANT PAID COURTESY VISIT 

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Aare Adetola Emmanuel-King, The Executive Chairman Adron Homes, advocates for Consolidation first before Transformation as he declares his support for Dr Segun Oshundairo, The Aspiring REDAN Chairman For Lagos Chapter(Real Estate Developers Association of Nigeria) 

 

He stated his full fledged support during an exclusive interview with the REDAN Chairman Aspirant, Dr Segun Oshundairo, the CEO of Arcview Investment Limited. During the Aspirant’s visit, Aare Adetola admonished him on steps to take to ensure that his tenure birth policies that would revolutionize the Real Estate Industry. He urged the Aspirant to embark on Intense Media publicity and collaborative advocacy efforts to influence government policies and decisions affecting the Real Estate Industry.

 

During this Meeting, The Aspirant talked about his Manifesto which he would implement once he emerges the Chairman. He declared the following Intentions:

– Create a Developers Mortgage Plan. With this, he would be collaborating with the government to create a plan that would ensure that developers can buy affordable estate from the government which would facilitate their ability to create reasonable and affordable houses for the masses.

– Establish an Advisory Board for REDAN. He stated that he would create an Advisory Committee that would consist of 7 stakeholders to advise and train members of the group every quarter on the right policies and procedures to implement.

– Open up lands in rural Areas and convert them to Mega cities. He revealed his intention to collaborate with the government in order to open up lands in Ofada, Papalantoro and environs as well as create affordable real estate in such areas.

– Rebrand and Publicize REDAN: The Aspirant stated that under his tenure, REDAN would have a new look, which would include a new logo, better policies as well as increased visibility .

 

Aare Adetola EmmanuelKing, In addition to advising the Aspiring Chairman on Strategic Media Publicity for REDAN, also implored him to pay attention to increasing the number of members in the group as well as present comprehensive strategies poised to shape the future landscape of real estate in the country.

 

He Admonished and stated that “There can’t be a greater Lagos without REDAN” He further advised the Aspirant on the need for a Universal market price of Landed Properties for Real Estate Developers in Lagos State when purchasing from the government. Also, this would foster and aid the creation of affordable housing for the good people of Lagos State and Nigerians at large.

 

The interview session concluded on a positive note in which Dr Segun Oshundairo expressed his enthusiasm and appreciation for the collaboration between REDAN and the CEO of Adron Homes. The Interview Session laid the foundation for future partnership opportunities aimed at driving positive change within the real estate industry. Dr Segun reiterated that once elected, he would set up a board of trustees that would consist of veterans and real estate pillars to serve as an advisory board for the pressure group.

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Announcing the 2024 GTCO Food and Drink Festival… A Celebration of Authentic Flavours

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[Lagos, Nigeria – March 20, 2024] – The countdown has begun to the 7th edition of the most anticipated culinary festival in Africa and Guaranty Trust Holding Company Plc (GTCO) is excited to announce dates for the 2024 GTCO Food and Drink Festival, set to take place from Friday, April 26th to Sunday, April 28th, at GTCentre, Plot 1 Water Corporation Drive, Oniru, Victoria Island, Lagos. The GTCO Food and Drink Festival is widely recognised as the continent’s biggest food and drink festival, bringing together millions of food lovers and entrepreneurs to celebrate the rich and diverse culinary heritage of Africa with a vibrant display of flavours, aromas, and cultures. Over the three-day period, attendees can look forward to an array of culinary delights, from traditional African dishes to innovative fusion cuisines from other parts of the world.

 

The festival will also feature live cooking demonstrations, tasting sessions, along with hundreds of food retailers showcasing a diverse range of mouth-watering offerings. Commenting on the 2024 GTCO Food and Drink Festival, the Group Chief Executive Officer of Guaranty Trust Holding Company Plc, Segun Agbaje, said: “We are delighted to bring to our customers, exhibitors, and food lovers from across Africa and beyond, another edition of an event that is a celebration of not just food, but of the rich tapestry of cultures and traditions that make African cuisine so unique. Our vision for curating this consumer-focused event is unchanging, particularly in light of the pressures that individuals and businesses are facing at this time. We hope to consistently create memorable moments for everyone, whilst providing a free, vibrant, and commercially viable platform for small food businesses in Nigeria to grow and thrive.” In addition to its culinary offerings, the GTCO Food and Drink Festival is renowned for its family-friendly atmosphere. This year, organisers have curated an extensive lineup of activities for children, ensuring that the festival is an unforgettable experience for the whole family. A specially designed play area will keep the little ones entertained with games, interactive exhibits, and more. As a new and exciting feature, the fair will introduce a children’s baking class, providing young aspiring chefs with a wonderful opportunity to discover the joys of baking, while also fostering creativity and confidence in the kitchen. From decorating cupcakes to crafting their own signature treats, children will unleash their culinary genius and develop valuable cooking skills in a fun and supportive environment.GTCO is a leading financial services group with banking operations in Nigeria, West Africa, East Africa, and the United Kingdom alongside new businesses in Payment, Funds Management, and Pension Fund Administration. The Group operates a diversified, Proudly African franchise and is renowned for its innovative approach to customer service and stakeholder engagement, which has endeared the brand to millions of people across Africa and beyond.

 

Its leadership in the banking industry and efforts at empowering people and communities has earned it many prestigious awards over the years. In 2023, GTCO’s Guaranty Trust Bank was recognized as Nigeria’s Best Bank and Best Bank in CSR at the Euromoney Awards for Excellence, Best Banking Group in Nigeria by World Finance, and Best Bank in Nigeria by Global Finance. Guaranty Trust Bank also featured in the Top 1000 Banks in the World and Top 100 Banks in Africa rankings by The Banker. Mark your calendars and prepare your taste buds as we come together in celebration of authentic flavours at the 2024 Food and Drink Festival. Attendance is FREE.For more information on the event, please visit: https://foodanddrink.gtcoplc.co

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