The Chief Executive Officer of DNJ Properties & Investment Limited, Johnson Ikpenu, Adeoye Oladeji, the Co-Founder/CEO and Deji Blac who is also a Co-Founder/CEO have been urged to allocate 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 request for allocation was sequel to the alleged abandoned allocation of the property after payment of N50 million by Mr. Olufemi Enahoro Odiri as consideration for the one unit of two bedroom apartment.
However, when contacted the CEO, Ikpenu via phone call, he confirmed seen the letter late hour on Friday, March 14, 2025. He said same has been forwarded to his lawyer who will react on Monday to Mr. Adefolaju request on his client apartment.
In a letter letter dated March 10, 2025 written to the DNJ Properties Limited by Odiri’s counsel, Mr. Ademola Adefolaju, requested that the CEOs should as a matter of urgency, honour the agreement, and allocate the apartment.
Adefolaju said, there was no information as regard the change of date of allocation of the property by the Company as against the background that the 18 months’ timeframe for consummation of the contract will lapse on the 29th of May, 2025.
He said his client, Odiri sometimes in year 2023, subscribed to purchase 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 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 stated how is client paid for the property that, “Our client paid the sum of Fifty Million Naira (50,000.000.00) as consideration for the one unit of Two Bedroom Apartment, the receipt of which the company acknowledged.
“The last installment payment of N38,000,000.00 (Thirty-Eight Million Naira) on the 1st of December, 2023 from our client after acknowledging the initial installment 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 a 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 is to be delivered to him within 18 months timeline commencing from 29th of November, 2023.”
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 Plet 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’ timeframe for consummation of the contract will lapse on the 29th of May, 2025.”
He therefore demand for an allocation of his one unit of two bedroom apartment in respect of the property, threatening to institute suit against the company if refused to follow terms and 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 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 than going through rigors of avoidable litigation/harassment by Law Enforcement Agency.”
When contacted the CEO, Ikpenu via phone call, he confirmed seen the letter late on Friday, March 14, 2025. He said same has been forwarded to his lawyer who will react on Monday to Mr. Adefolaju request on his client apartment.
