What began as a Joint Venture for a high-rise development in Victoria Island has reportedly escalated into a major legal dispute, following the Landowner’s termination of the JV over a fundamental breach by the developer, Levitikal Construction Limited and subsequent move to reclaim possession of the property linked to former Lagos governorship aspirant Dr. Samuel Mawuyon Ajose and Levitikal.
The dispute has reportedly spilled into multiple court proceedings including in Suit No: FHC/LAG/CS/1245/2026 instituted at the Federal High Court, Lagos, arbitration and EFCC investigations. Interestingly, the property had also previously been sealed by the EFCC amid EFCC probe, raising fresh questions about its legal and commercial status.
The latest development leaves prospective buyers and investors with critical questions: Is it safe to invest in a project riddled with multiple court cases? The legal battle appears far from over. For prospective buyers, the warning is clear: there is a dispute on the project.
From a promising Victoria Island development to a courtroom and arbitration battle, this property saga is one that prospective buyers cannot afford to ignore. What would be the outcome of the arbitration proceedings, the several court actions and EFCC probe.
PROPERTY LINKED TO LEVITIKAL AND DR SAMUEL AJOSE PREVIOUSLY SEALED BY EFCC NOW SEALED PURSUANT TO FEDERAL HIGH COURT ORDER
Following the recent court order made by the Federal High Court, sitting in Lagos on the 29th day of September 2026, appointing the Receiver to take over possession and custody of all that property known as No 68 Molade Okoya Thomas Street, Off Ajose Adeogun Street, Victoria Island, Lagos, which is subject of Notice of dispute and Suit No. FHC/LAG/CS/1245/2026, the said property (which had previously been sealed off by the Economic and Financial Crimes Commission) has now been sealed off pending the hearing and determination of the motion on notice.
This present suit stemmed from the series of fundamental breaches of the joint venture agreement by the Developer, Levitikal Realties & Construction Limited owned by Dr. Samuel Mawuyon Ajose, a former Governorship aspirant in Lagos State. From the court processes, it was observed that the Joint Venture Agreement has been terminated.
The Order granted by the Federal High Court directed the Landowner to notify members of the public, prospective purchasers, lenders and investors of the development to prevent them from acquiring a property that is subject of litigation.
HEADLINES
Former Lagos Governorship Candidate Dr. Samuel Ajose's Victoria Island Property Battle Escalates as Landowner Terminates JV and Takes Possession Amid Lawsuits, Arbitration and EFCC Probe.
Property linked to Levitikal and Dr Samuel Ajose Previously Sealed by EFCC Now Sealed Pursuant to Federal High Court Order
Legal Dispute Deepens as Federal High Court Orders Receiver to Take Custody of Victoria Island Property linked to Levitikal and Dr Samuel Ajose.
Federal High Court Appoints Receiver Over Disputed Victoria Island Property, Orders Public Notice
Fresh Twist in Victoria Island Property Saga linked to Levitikal and Dr Samuel Ajose, as Landowner Terminates JV and Reclaims High-Rise.
From Joint Venture to Legal Showdown: Landowner Takes Over Disputed Victoria Island High-Rise, Buyers beware!!!
Legal Storm Gathers Over Victoria Island High-Rise linked to Former Lagos Governorship Candidate Dr. Samuel Ajose as Landowner Terminates JV and Takes Control.
Property Deal Turns Sour as Landowner Terminates JV and Reclaims Victoria Island High-Rise Linked to Dr. Samuel Mawuyon Ajose.
Buyer Beware: Victoria Island High-Rise Linked to Dr. Samuel Mawuyon Ajose Entangled in Court Battles and Arbitration.
No comments:
Post a Comment