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Today’s edition turns to a growing legal dispute that is drawing attention across Lagos’ property market.
Residents have raised concerns over the enforcement of a contested court judgment, warning that the manner and timing of execution could have wider implications beyond the immediate parties involved. At stake is more than a single property. The situation has reignited debate around due process, ownership protection, and the importance of legal certainty in a market that depends heavily on investor confidence.
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Property Rights Under Pressure as Lagos Residents Challenge Court Enforcement
A group of aggrieved residents has formally petitioned the Chief Judge of Lagos State, Justice Kazeem Alogba, seeking an urgent review of what they describe as an "unlawful and high-handed" execution of a court judgment. The petitioners allege that the enforcement process, which resulted in the displacement of several families and the sealing of properties, bypassed critical statutory procedures and ignored pending legal applications.
MOFIREIT Announces ₦3.75 and ₦9.72 H2 2025 Dividend Payout for Series 1 and 2 Investors
Asset & Resource Management Company (ARM) has declared dividend payouts of ₦3.75 per unit for Series 1 and ₦9.72 per unit for Series 2 investors in the Ministry of Finance Incorporated Real Estate Investment Trust (MOFIREIT) for the second half of 2025. The announcement confirms continued income distribution to unitholders, reinforcing the REIT’s income-generating mandate amid evolving macroeconomic conditions.
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NASS Praises FERMA’s Performance, Backs ₦230bn Budget for 2026 Road Maintenance
The National Assembly Joint Committee on the Federal Roads Maintenance Agency (FERMA) has commended the agency for its "visible impact" and quality of work despite persistent financial constraints. During the 2026 budget defence session held on Wednesday, lawmakers underscored the strategic necessity of robust road maintenance, describing it as a primary engine for achieving Nigeria’s target of a $1 trillion economy.
Gov Sani Pledges No Demolition Without Compensation, Disburses ₦2.85bn to Kaduna Residents
Governor Uba Sani has officially declared that his administration will not carry out any structural demolitions or dispossess citizens of their property without the payment of fair and adequate compensation. Speaking at a flag-off ceremony in Rigasa on Wednesday, the Governor emphasised that the state would no longer invoke the doctrine of "overriding public interest" as a pretext to displace residents without restitution.
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USD > NGN | 1,335.19 | Up by 0.26% |
GDP > NGN | 1,795.65 | Up by 0.02% |
EUR > NGN | 1,570.75 | Up by 0.03% |
CAD > NGN | 975.76 | Up by 0.06% |
Real Estate Dispute: Shell East Limited Seeks Liquidation of Femab Properties Over Unpaid Debt
The Federal High Court in Lagos has fixed 29 April 2026 to hear a winding-up petition filed by Shell East Staff Investment Cooperative Society Limited (CoopEast) against a prominent real estate firm, Femab Properties Limited. The petition seeks the liquidation of the company over an alleged failure to settle an outstanding debt of ₦96 million.
BPP Reports ₦1.1 Trillion Savings From Federal Procurement Reforms in 2025
Nigeria’s Bureau of Public Procurement (BPP) has announced that procurement reforms implemented across Ministries, Departments and Agencies (MDAs) generated savings of ₦1.1 trillion for the Federal Government in 2025. The agency disclosed that the savings resulted from stricter compliance enforcement, price benchmarking, and enhanced due diligence in contract approvals.
Quote of the day:
“Markets grow where rights are protected, and confidence follows clarity.”
Produced by: Amarachi Okeke
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