Adetunji Ogunwusi’s Many Troubles
Prince Adetunji Ogunwusi is one of the top players in the nation’s real estate industry.
But in the eyes of some, he is a desperado, who operates without scruples. Hence, his integrity has been called to question a number of times.
A few weeks ago, his alleged crooked ways in the industry was exposed when the Nigeria Association of Women Journalists, NAWOJ, Lagos Chapter, staged a peaceful protest over his involvement in a N100 million housing fraud.
The members of the group had paid the money into his Prime Waterview Limited Company for a housing project, which he has failed to deliver many years after.
The protesters, who carried placards with various inscriptions, said the protest was necessitated after Ogunwusi reneged on his promise at different meetings held with him.
“Prince Ogunwusi claimed to have bought plumbing and wiring materials worth several millions of Naira for buildings he is yet to build.
“Justice must be done and truly seen to have been done in this matter. Many of our colleagues, who subscribed to the project, are dead while many are suffering as a result of accommodation problem.
“We have been on this matter for years now and Justice delayed is justice denied,” a source added.
Sadly, this may not be the only cause of his sleepless nights, as it was gathered that he has also been dragged before a Lagos High Court by members of the ExxonMobil Staff Cooperative Society Limited over an alleged attempt to deny them a housing estate they applied for.
Joined as co-defendants in the suit are Sterling Bank Plc, Spartee International Limited, the Registrar of Titles, Lagos State and the Attorney-General and Commissioner of Justice, Lagos State.
In a suit marked LD/6285/14 filed by their lawyer, Tesleem S. Adewuyi of Citipoint Legal Practitioners, they claimed that the first defendant, Primewaterview Limited, had, on September 14, 2007, approached them to go into a joint development alliance in respect of the proposed Primewaterview Garden 2 Estate, Ikate-Elegunshi, Lekki, Lagos.
It was also said that they agreed to participate in the said proposed estate development on a subscriber/owner basis, which was subject to a written agreement being executed between them and the first defendant, Primewaterview Limited, on February 5, 2008.
Upon an agreement dated March 31, 2008, the first defendant, Primewaterview Limited, agreed to sell to members of the association ‘175 reserved units’ of three-bedroom luxury flats with boys’ quarters (comprising Blocks A to J) at a fixed price of N26 million.
It was also agreed that the claimant shall make an advance payment of 30 percent of the contracted purchase price as seed money for the commencement of the project construction works, while the balance of 70 percent shall be paid upon completion.
The claimant also stated that a sum of N1.365 billion, representing the 30 percent consideration of the 175 units, was raised through the subscriptions of its interested members.
However, the first defendant, Primewaterview Limited, was said to have reneged on the agreement, despite the fact that it received as at and when due the agreed seed money of N1.365 billion.
It was also alleged that that the company, in a letter dated November 5, 2009, approached the association for additional funds to facilitate the completion and delivery of the said 175 units of the three-bedroom flats with boys’ quarters, which had been delayed beyond the date contracted by the Primewaterview Limited.
Consequently, the claimants obtained construction finance facility from Access Bank Plc through whom an additional sum of N2.242 billion was raised and disbursed to the company in respect of the 175 units of three-bedroom luxury flats with boys’ quarters subscribed in the sum of N3.76 billion.
It was also agreed that the construction finance facility would be converted to mortgage facility for the subscribing members upon the completion and delivery of 175 units of the three- bedroom luxury flats with boys’ quarters to them.
However, the first defendant, Primewaterview Limited, was allegedly to have purportedly, by a Deed of Legal Mortgage registered on June 20, 2011, mortgaged the entire estate (without excluding the 175 units of three bedroom flats with boys’ quarters already paid for by them) to Sterling Bank Plc for an alleged loan of N50 million.
It was also said that by the purported Deed of Assignment dated May 4, 2012, and registered as number 96/96/2419, Sterling Bank Plc, as mortgagor, exercised its right of sale by selling the entire estate to the third defendant, Spartee International Limited, for the sum of N100 million.
The association further stated that the purported mortgage of the entire estate for a paltry sum of N50 million by the first defendant to the bank was a deliberate ploy to deprive them of the sum of N3.76 billion, which they paid for 175 units out of 458 units comprising the entire estate, which is said to worth N20 billion.
On April 24, 2014, Primewaterview, in a letter through its solicitors, claimed that only 125 units are available for its members as against 175 units subscribed for, and that such will be delivered to them only on the condition that they agree to pay a new price ranging from N35 million to N38 million per unit as against the reserved purchase price of N26 million.
Consequently, the claimant is seeking a court declaration that they are entitled to the 175 units (Blocks A-J) of three bedroom luxury flats with boys’ quarters at the company’s Garden Estate, Ikate-Elegunshi, at the agreed purchase price of N26 million per unit upon the agreement dated March 31, 2008.
Our source further revealed that the company, in a tactical move to escape a series of legal battles hanging around his neck, early this year, carried out a management changeover, a development which made Ogunwusi to step down as Chairman of the company, after a United States-based company, Milost Global Inc., bought into the company.
The source also disclosed that Primewaterview received a $5 million facility from a $2-billion financing facility previously committed by Milost Global Incorporated, a U.S. private equity firm.
BISHOP TOM SAMSON’S WORLDLY TREASURES
For sometime now, tongues have been wagging over the lifestyle of the General Overseer of Christ Royal Church, Bishop Tom Samson.
Though his fans and church members believe very strongly that he is very knowledgeable about the Bible and that he is truly called to win souls into the vineyard of the Lord, many think that his lifestyle is out of sync with the divine teaching in Mathew 6 verses 19-21: “Do not store up for yourselves treasures on earth, where moths and vermin destroy, and where thieves break in and steal. But store up for yourselves treasures in heaven, where moths and vermin do not destroy, and where thieves do not break in and steal. For where your treasure is, there your heart will be also.”
Except you know him too well, you may take him for a hip-hop act or a Hollywood movie star owing largely to his dress sense. In some sense, he loves everything of the world and flaunts it without caring a hoot.
Surprisingly, he is unfazed about the barrage of criticisms that is daily hurled at him by some members of the society, including some Christian faithful. This is because he still goes about with a retinue of bodyguards and in exotic cars. In fact, a few weeks ago, he took delivery of a Bentley, which left many agape.
It will be recalled that on his 50th birthday celebration, he literally spoilt himself with a customised Limousine. Though he claimed it was a gift from a member of his church, those who knew better countered that it was a tissue of lies to stave off criticisms.
The fiery preacher, who has a fleet of exotic cars in his garage, is said to be planning to acquire a private jet to mark his 55th birthday in a couple of years.
BOLU AKIN-OLUGBADE’S SON’S MARRIAGE STILL INTACT
About two years ago, Dademu, son of billionaire businessman, Bolu Akin-Olugbade, married his beautiful wife, Lauretta, in a blaze of glory.
Surprisingly, the rumour mill has been agog with reports of a crack in their marriage.
The wicked lies border on an alleged Yeye Ladun Akin-Olugbade. Dademu was alleged to be “immature” in the way he handles most of his marital affairs; and he was said to always seek the consent of his mum before taking any decision that concerns him and his wife.
This, it was further alleged, usually gives failure to act on her advice was also said to have led to the collapse of the marriage.
However, a source revealed to Society Watch that there is no element of truth in the purported crash.
“Of course, there is no marriage without his peculiarity. But there is no iota of truth in the story. The couple is doing good and enjoying their union. The couple has decided to spend the rest of their lives together, since they were joined in holy matrimony. A journey of unity, happiness and love was expected to have just begun,” the source said.
Dademu, is a United States-trained investment banker, who worked with Merrill Lynch Bank in Los Angeles before returning to Nigeria as an Accounting Manager in West Africa for Reuters. He is presently a businessman. His beautiful heartthrob of many years, Lauretta, a lawyer, is daughter of Dr. Allan Fatai Williams and Mrs. Marie Fatai- Williams, who was an executive director of Total Nigeria.