Bizman Loses N43m To Land Speculators


A Lagos-based businessman, Mike Temuagbor, has lost N43 million to land speculators who claimed to have sold a landed property in Lekki, Lagos State, South-West nigeria.

gathered that Temuagbor paid the money in respect of a property located at Plot 10, Block 64, Fola Osibor Street, Lekki Phase 1. After payment, he was issued with a fake certificate of occupancy, C of O, with number 46/46/1990K.

However, as he tried to take possession, another person appeared as the real owner of the property.

When it dawned on the businessman that he had been duped, he demanded for a refund of his money. As the land speculators tossed him around, he reported the matter to the police who later investigated and arrested the suspects.

Those arrested are: Abiodun Bello, 36; Moses Bawa, 50; Morenike Ojogbede, 38; Tobechi Egbor, 45 and Brics Realtors Limited, a company that facilitated the deal.

They were arraigned before Igbosere Magistrate’s Court on a six-count charge of obtaining money under false pretence, stealing and conspiracy contrary to sections 419, 467 and 390 of the Criminal Code Cap 17 Vol. 2, Laws of Lagos State of Nigeria, 2003.

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When the charges were read to them, they pleaded not guilty.

The presiding magistrate, Mrs. I.O. Akinkugbe granted them bail in the sum of N2 million with two sureties each who must be gainfully employed and must show evidence of payment of tax for three years.

The matter has been adjourned till 5 April, 2011 for trial.

—Cyriacus Izuekwe