News

March 11, 2026

Court stops firm from reselling Ikoyi property over N295.5m dispute

A Lagos State High Court sitting in Tapa has restrained a property development firm, Godmade Homes Limited, and one of its officials, Ayoolanrewaju Kuyebi, from selling or tampering with a disputed property in Ikoyi, pending the determination of a suit before the court.

Justice R. Olukolu granted the order of interim injunction following an ex parte application by Two Aprils Limited and Mr. Yusuf Murtala over a five-bedroom terrace duplex located at Esplanade 6 (formerly EGC5), Iroko Close, Osborne Foreshore II, Ikoyi, Lagos.

The claimants had approached the court seeking urgent protection of the property, alleging that the defendants intended to resell the property to another buyer despite an existing contract of sale.

In the ruling delivered on March 4, 2026, the court restrained the defendants, their agents, affiliates or representatives from “disturbing, interfering, disposing, transferring, selling, assigning or dealing” with the property pending the hearing and determination of the motion on notice filed in the suit.

Justice Olukolu also granted leave to the claimants, with the assistance of court sheriffs, to take possession of the property or alternatively mark it with the inscription “subject of litigation” until the case is resolved.

Court documents show that the dispute arose from an off-plan property transaction between the parties.

According to the applicants, Godmade Homes Limited had represented itself as a property developer capable of delivering units of five-bedroom terrace duplexes with one-bedroom boys’ quarters at the Osborne Foreshore II estate.

Based on that representation, the claimants said they agreed to purchase one of the units for N295.5 million under a contract of sale dated November 4, 2022, with the delivery date fixed for July 31, 2024.

The applicants stated that they had already paid N247.26 million toward the purchase price and were later issued a letter of allocation dated May 21, 2024.

However, they alleged that the developers repeatedly shifted the delivery timeline and failed to comply with key terms of the agreement.