Property

U.K. – based Nigerian, Redbrick Homes  disagree on N28m fraudulent transaction

By Adewumi Ojo

NigRedbrick Homes Ltd, a subsidiary of Amen Estate has disagreed with a United Kingdom based Nigerian, Dr Sidiq Tijani  over  an alleged fraudulent transaction  worth N28.5 million.

The alleged financial transaction took place following an advertisement about the construction of a 3bedroom flat at Eleko Beach Road, Lagos for N28.5 million  in 2014. Dr Tijani recently issued a release  obtained by Nigerian NewsDirect that  he paid ten thousand five hundred pounds sterling after accepting the offer in February 2014 and another N4million  into the company’s account.

“In February 2014, I was offered a 3 bedroom flat  estate, in Lagos, where I was shown the model of the flat and was told that minimum 10percent deposit is needed and the balance was to be paid within 24months. I was requested to make regular payment”.

He however alleged that breakdown in communication with the developer made him not to continue with the payment for the building  but Mrs Gbadamosi  who is the Financial Director of the company, said when he was contacted for further payment he complained bitterly. He later failed to adhere. The histopathologist, said he found nothing on the land when he visited the country on 17th February 2016.

“I visited Amen Estate in February 2016, but was dismayed when I realized that no development on the site. The Agency changed the terms of the contract by offering me an old flat as an alternative, and was also offered a terraced house which I also rejected and insisted on either the original contract or a full refund of the payment. They told me to either pay for a terrace house or to forfeit my money”.

However, after a painstaking investigation by NewsDirect, findings showed that Dr Tijani was not refunded his money due to his violation of the contract signed by the two parties. According to the contract signed by the two parties and obtained  by NND,  a minimum of 10% deposit must be paid,  and with the balance payable within 24monhs from the date of the offer payable and also in regular installments, with ballon and smaller payments welcome in between.

On refund, according to the signed contract of agreement, it could only be achieved only when 25% had been paid out of the full asking price which was also signed by the doctor. Record showed that Dr Tijani only paid N6,850,000 million which is below the agreement fee 25% of N7,500,000 million.

Though  Dr Tijani confirmed his acceptance with the payment of the 10% as required and the subsequent payment of four million naira, but his inability to further regularise payment as agreed in the contract triggered the clause in the agreed contract which showed that penalty for defaults will include but not limited to application of current prices to the property, relocation of allocation, or eventual forfeiture of all allocation, in which case a refund maybe awarded less an administrative fee of 25% of full asking price.

Mrs  Folasade Gbadamosi  said his failure to honour clause two of the signed contract which states that clients must pay a minimum total of 25% every six months starting from the date of the agreed contract activated clause four which is on penalty for defaults.

“To begin your purchase of this property, a minimum of 10% deposit, is required. The balance is payable within 24 months from the date of this offer letter. Payable in regular installments. Ballon payments/ smaller payments are always welcome in between. A minimum total of 25% should be paid every 6months. Fast tracking is also welcome.

“Penalties for defaults include but not limited to application, of current prices to the said property, relocation of allocation, or even forfeiture of eventual all allocation in which case a refund maybe awarded less an administrative fee of 25% of full asking price”.

The contract as gathered by NewsDirect was signed by the two parties on the 26th February 2014 with Dr Tijani signature on it.

When visited, NND confirmed a functioning Estate occupied with a secure and modest environment.

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