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LERSA urges AMCON to recognize property titles, Stop inflicting heartache on residents

Posted on Saturday, July 13, 2019 No comments

Saturday, July 13, 2019



The Lekki Estates Residents and Stakeholders Association (LERSA), the umbrella body of Residents Associations of over 77 gated Estates from 1004 Estate area down to Epe, have added their voice to the clamours of Residents and Property Owners in Lekki, Lagos 

LERSA condemns the inhuman treatment of Homeowners who are being thrown out of their homes in Victory Park Estate and Goshen Beach Estate and other Estates in Lekki by Asset Management Corporation of Nigeria (AMCON) with the use of heavily armed policemen and a group of fiercely looking unidentified armed men. Several families have been forced out of their homes with mothers and children left out in the heavy down pour of rain with little or no notice at mid-day when most Residents were out for work. 


LERSA reiterated the fact that residents and property owners in the affected Estates bought into gated Estate Schemes like most estate development Schemes in the Lekki axis of Lagos State. These properties are widely publicized, and in the case of GOSHEN Beach Estate, the sale was a joint venture between the developer and Lagos State Development & Property Corporation thus giving comfort and confidence to would be subscribers/buyers that they are credible and the titles are free from any encumbrance. It is appalling and devastating to buy into a State Government sanctioned transaction only to have homes and life sustaining facilities like sewage treatment, borehole and recreation area forcibly sealed up almost twenty years after purchase. 


In view of the current circumstances of some of our Estates with AMCON, it is the opinion of LERSA that the right and equitable thing for AMCON, which is a Government Agency to do, is to go after the assets of Developers who are the loan defaulters and not prey on soft targets that are innocent citizens, who are bona fide purchasers for value, without notice of any encumbrances known to law. The enabling law establishing AMCON stipulates that AMCON Receiver Managers shall take over receivership of properties of judgement debtors subject to existing encumbrances. 


Residents and Property Owners of Victory Park Estate and Goshen Beach Estate who bought their lands and built their homes in the Estates, have suddenly become soft targets of AMCON for the recovery of bad debts. 


It should be noted that our members who are the owners of their properties duly paid for by them have no relationship whatsoever with AMCON. Any bankers who accept common estate facilities such as waterworks, road network, general service infrastructure and so on as collateral for loan will need to question his/her qualifications as a banker. It is shocking to see AMCON appointing a receiver for properties which has been bought and paid for by individual Nigeria citizens rather than go after the judgement debtor, it is appalling that AMCON came after innocent citizens as soft targets after the demise of the developer who is their banks customers. Our properties were acquired and paid for fully without any caveat and or encumbrances. 


The use of force with the help of unidentified armed men to invade, intimidate and force out; law abiding citizens from their homes by any Government Agency is strongly condemned and should not be allowed to thrive in our democracy. 


We call on President Mohammadu Buhari, the Vice President Prof. Yemi Osinbajo, the Governor of Lagos State, His Excellency Babajide Sanwo-Olu, the Inspector General of Police, Mohammed Adamu, the Chairman of AMCON Mr Muiz Banire and the Managing Director of AMCON, Lawan Kuru to intervene in the matters of Victory Park Estate, Goshen Estate and any other Estates in Lekki and ensure that innocent Nigerians are not deprived of their homes and properties.

Nigerians in Diaspora Cry out For Help as Their Life Investment In Properties in Nigeria is Taken Away by AMCON

Posted on Saturday, July 6, 2019 No comments

Saturday, July 6, 2019

Victory Park, Lekki


Over 50 Nigerians in Diaspora have cried out as AMCON disposes them of their land and properties in Victory Park Estate. Nigerians in Diaspora who bought land and are at different stages of building their Home Coming Buildings and Apartments in Victory Park have woken up to a rude shock as Asset Management Company of Nigeria (AMCON) through its Receiver Manager, Mr Lanre Olaoluwa, with the backing of heavily Armed Police Men and Thugs purportedly OPC, have taken over their land and properties in Victory Park Estate, Lekki Lagos. 



These Nigerians in Daispora invested in Properties back home in Nigeria for a possible future settlement of their families back in Nigeria. They Invested like most Nigerians in a supposed secured Site and Service Estate that was widely published in major News Papers, Property Magazines, Newsletters and Various Online Platforms. 



The Land Registry in Lagos gave an all clear to the lands in Victory Park Estate under Knight Rook; The Banks that gave loan to the Promoters of Victory Park Estate did not register any Charge against the Land in Victory Park at the Land Registry or anywhere else. The Banks had full knowledge that the Awosedo’s (Owners of Knight Rook and Grant Properties) were selling the lands in Victory Park Estate to innocent Nigerians both home and in diaspora. 



AMCON, we are told bought over the debt in 2014, and continued to meet with the Awosedo’s to recover the debt without putting out any caveat on the Land, they allowed the Awosedo’s to continue to sell lands to innocent Nigerians. Since negotiations between Awosedo’s, the Banks and AMCON failed, AMCON have now decided to take away the land and properties of the innocent Nigerians that are by law categories as “Bonifide Purchaser for Value without Notice”. 



We are in the diaspora; AMCON is an Agency of Government that is meant to protect its citizens from such fraudulent and corrupt practices. We bought our properties long before AMCON put out any notice of its claim to the Assets of the Awosedo’s, which include Knight Rook Limited and Grant Properties Limited. The same Awosedo’s with same registered address owns both Companies. If AMCON is taking over Knight Rook then it must recognize the land sold to Bonafide Purchaser for value. 



We don’t have the power and means to fight AMCON, we call on President Buhari and the Vice President Oshinbajo to set up a Commission of enquiry into the Victory Park Fraud on innocent Nigerians which AMCON is a party to as well as some Banks.




If we cannot buy properties in our home country and feel safe from molestation, harassment and fraud, where lies our hope and that of our children? 



Please go after the Awosedo’s and the Bank that sold a fraudulent debt to AMCON. We bought our land in good faith and we did proper due diligence that is expected of any reasonable person.
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