Kemisola Oye
THE Chief Executive Officer (CEO) of DNJ Properties & Investment Limited, Johnson Ikpenu; the Co-Founder/CEO, Adeoye Oladeji and Deji Blac, who is also a Co-Founder/CEO of the company, have been urged to allocate the two-bedroom apartment in respect of the property lying and situate at Plot 14 & 16, Eru Ifa Street, Ikate, Off Lekki-Epe Expressway, Lagos.
The demand is sequel to the alleged abandoned allocation of the said property despite payment of Fifty Million Naira (N50,000,000.00) by Mr Olufemi Enahoro Odiri as consideration for the one-unit of two-bedroom apartment.
But, when contacted via phone call, Johnson Ikpenu confirmed receiving the letter late on Friday 14 March 2025. He said the same has been forwarded to his lawyer who will react on Monday to Mr Ademola Adefolaju’s request on his client’s apartment.
In the letter dated 10 March 2025 addressed to DNJ Properties Limited by Odiri’s counsel, Mr Ademola Adefolaju, he requested that the CEOs should, as a matter of urgency, honour the agreement and allocate the apartment in compliance with the dictate of the contract.
Adefolaju said there was no information with regard to the change of date of allocation of the property by the company as against the background that the 18-month time frame for consummation of the contract will lapse on the 29th of May, 2025.
Giving a background to what led to the tiff, Barrister Adefolaju said Odiri, his client, sometime in 2023, subscribed to one unit of two bedroom apartment in respect of the property lying and situate at Plot 14 & 16, Eru Iia Street, Ikate, Off Lekki-Epe Expressway, Lagos State.
He explained that following the payment of N50 million, “a contract of sale of one unit of two bedroom apartment was made in favour of our client”. He, therefore, attached a copy of the Contract of Sale with the letter marked, “ANNEXURE A”.
He further explained how his client paid for the property noting that: “Our client paid the sum of Fifty Million Naira (N50,000,000.00) as consideration for the one unit of two bedroom apartment, the receipt of which the company acknowledged.
“The last instalment payment of Thirty-Eight Million Naira (N38,000,000.00) on the 1st of December, 2023 from our client after acknowledging the initial instalment payment of N2,000,000.00 on the 29th of September, 2023;
“Payment of N5,000,000.00 on the 1st of October, 2023: N2,000,000.00 on the 2nd of October, 2023 and N3,000,000.00 on the 21st of November, 2023 respectively.
“By agreement of the parties, the one unit of two bedroom apartment purchased under the contract was to be delivered to him within an 18-month timeline commencing from 29th of November 2023. “
Barrister Adefolaju, however, stated that “Following a recent visit to the site, our client realised that nothing has been built on the property lying and situate at Plot 14 & 16, Eri Ifa Street, Ikate, Off Lekki-Epe Expressway; Lagos State and further states that no information whatsoever as regard change of date of allocation of the property by the company was communicated to him; this is against the background that the 18 months’ time frame for consummation of the contract will lapse on the 29th of May, 2025.”
He, therefore, demands allocation of his client’s one unit of a two-bedroom apartment in respect of the property, threatening to institute suit against the company if refuses to abide by the terms of the agreement signed.
“We wish to reiterate that this matter need not degenerate to litigation. We may, however, be constrained to institute legal proceedings against you and/or report your business to the Economic and Financial Crimes Commission (EFCC) for fraudulent activities and economic distortion, should you fail to yield positively to our client’s demand.
“It is, therefore, our utmost belief that wise counsel is allowed to prevail rather than going through the rigours of avoidable litigation/harassment by the law enforcement agencies”
Eighteen-Eleven Media