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Ikoyi Collapsed Building Subscribers Signed Over $500,000 Contract Each

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Some subscribers to the collapsed 21-storey building in Ikoyi, Lagos State, signed contracts ranging from over $500,000 (N206.5m) to over $3m (N1.24bn) for the purchase of luxury apartments in the high-rise from Fourscore Heights Limited, findings by our correspondent have revealed.

Documents obtained by our correspondent showed that after the payment of an initial deposit, most of the subscribers signed an agreement to pay the balance over a period of 48 months.

Subscribers said the management of Fourscore Heights Limited made the payment plan so flexible such that intending apartment owners could pay their balance through instalment payments over a period of 48 months.

The instalments, according to them, are expected to be made either monthly, quarterly, bi-annually, or yearly, depending on the choice of the subscribers.

They also revealed that the luxury apartments on the high-rise went for various prices, with subscribers to the apartments on the upper floors paying more than those on the lower floors.

One of the subscribers, who chose to speak on condition of anonymity, said, “The higher the floor your apartment is located, the higher the price. Those on the higher floors paid more than those of us on the lower floors. I subscribed for a three-bedroom apartment on one of the floors below the eighth floor which went for $650,000. However, the owner of Fourscore Heights Limited, Mr Femi Osibana, reduced the price for some persons who were close to him. I happened to be one of those fellows. Femi and I were childhood friends.

“So, he also reduced my price to $565,000. We were together in Mayflower School in Ikene, Ogun State. We were also together at some points in London when he used to travel to Italy to buy suits and shoes for sale in the United Kingdom. Subscribers on my category were asked to pay only the initial deposit of $65,000 and then spread the remaining $500,000 over a 48-month period.

“I was told subscribers on the 12th floor and above signed agreements to pay over $1.2m over a 48-month period while those on the 17th floor and above were asked to sign agreements to pay over $3m and above, depending on terms of the negotiation and agreement.”

A subscriber, who told our correspondent that he was given an apartment on the fifth floor, said he planned to pay a monthly instalment of $10,416 (N4,301,808) over a period of 48 months, following an agreement to pay $65,000 (N26,845,000) as initial deposit.

According to him, the total package was $565,000 (N233,345,000) and it was meant to be paid over a four-year period, after the payment of the initial deposit of $65,000.

A copy of the subscriber’s letter, which was obtained by our correspondent, showed that aside from the luxury apartments, the 21-storey building also contained several facilities to be enjoyed by the intending owners, including a power generating plant, club house, swimming pool, communal offices, gym and spa, 24-hour security, servant’s quarter and parking space.

The package also included legal and agency fees, which were not disclosed in the offer letter.

The letter, which was on the letterhead of Fourscore Heights Limited, has the address of the company as 2-4 Mosley Road, Ikoyi, Lagos.

It read in part, “We are pleased to offer for sale three bedroom Finished Flat on 5th floor Peace Building for the sum of USD 565,000.00 (five hundred and sixty five thousand dollars only), situated at 44bcd Gerrard Road as described above, under the following terms and conditions subject to contract viz details of development: three bedrooms (all en suite), one bedroom servant’s quarter, kitchen, parking space, generating plant, 24-hour security, access to club house, swimming pool, communal offices, gym and spa.

“Purpose: Strictly residential. Title: Deed of sublease. Payment terms: 1st payment -$5,000; 2nd payment – $60,000; Balance payment – (this will be spread over the period of four (4) years. Legal fees: five per cent. Agency fees: five per cent. All payments should be made in favour of O. Osibona/Fourscore Heights Limited.”

The letter also showed that subscribers were to make payments in dollars into the company’s domiciliary account, which was provided in the letter.

Efforts to get Fourscore Heights Limited to react to the development failed.

Calls were made to the official lines of the company indicated the lines were switched off. Text messages sent to the lines were also not replied to as of the time of filing this report.

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Gumi Defends Dialogue As Sole Solution To Nigeria’s Insecurity

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Islamic cleric Sheikh Ahmad Gumi recently defended his past interactions with armed groups, stating he “took the bull by the horns” in 2021 as a necessary step to address Nigeria’s insecurity.

In a post shared on Facebook on Thursday, Gumi said decades of neglect of disadvantaged populations had created deep socio-economic inequalities, leaving many youths vulnerable to manipulation by external forces seeking to destabilise the country.

According to him, the widening gap between the rich and the poor has turned many young people into “ready-made foot soldiers” in cycles of violence that enable the exploitation of Nigeria’s resources.

He also criticised the political class for being largely unresponsive, while noting that the intellectual community is preoccupied with survival struggles.

Reflecting on his past efforts, Gumi said he “took the bull by the horns” in 2021 by attempting to reintegrate violent elements into society rather than allowing them to be further radicalised.

He wrote: “Nigeria for decades has ignored the underprivileged section of its society. There is a significant socio-economic discrepancy, and the society is stratified. This makes our teaming youth ready-made foot soldiers for any foreign interest trying to divide us and rule. To plunder our resources while we are involved in a vicious circle of violence.

”Unfortunately, the political class is unattentive while the intelligentsia is held hostage in the struggle for existence.

“In 2021, I took the bull by the horns in an attempt to bring some of these uncouth elements back to our fold rather than letting them be exploited by the devil.

“I still believe this is the only way out of our predicament. However, it needs the political will and determination to achieve.

“May Allah bring peace back to our nation.”

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Court Clears Senator Ireti Kingibe To Remain Active In ADC

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The Federal High Court in Abuja rejected an ex-parte application seeking to bar Senator Ireti Kingibe from participating in the activities of the African Democratic Congress (ADC).

Justice Peter Lifu declined the request from Wuse Ward leaders, ruling that such an order could not be granted without first hearing from the senator.

Instead, the judge ordered the ward leaders said to be loyal to the Minister of the FCT, Nyesom Wike, to put the senator on notice to appear in court to join issues with them on their grievances.

Justice Lifu in a ruling on Thursday held that discretion in such a request for prohibition from party activities and in political matters must be exercised judicially and judiciously.

The judge said justice would be met in the case of the plaintiffs only when the side of the defendant is heard on its merit, along with that of the plaintiffs.

Consequently, the judge ordered that Senator Ireti Kingibe should be served with all court processes by the plaintiffs to enable her become aware of the suit and to prepare her defense.

The judge fixed April 20, 2026, for the plaintiffs and the serving senator to appear before him for hearing of all applications in the matter.

Those who sued the senator in the suit marked FHC/ABJ/ CV/539/2026 are Okezuo Godfrey Anayo and Isaiah Ojonugwa Samuel, on behalf of themselves and ward members as plaintiffs. The senator is the sole defendant.

In their ex-parte application, Kingibe representing the FCT in the Senate was said to have been suspended on March 10, 2026 by her Wuse Ward executives following allegations of anti-party activities and disregard of your cnstitution of the ADC.

In the ex- parte application filed on their behalf by a Senior Advocate of Nigeria, SAN, Kolawole Olowookere, the aggrieved ADC members in Wuse Ward applied for an order of interim injunction restraining Kingibe from parading herself as a member of party, pending the hearing and determination of their motion on notice for interlocutory injunction.

They also asked the judge to restrain the senator from performing any function, attending meetings or performing activities reserved for ADC members or representing the party in any activities.

Besides, the Ward Executive Committee had asked that she be restrained from further interfering with the administration of the ward, ward register and other activities.

The suit was predicated on five grounds among which are that Mrs Kingibe was placed on suspension due to anti-party activities, gross misconduct and confiscation of the ward statutory records.

They argued that the suspension followed due process as enshrined in the ADC constitution and ratified by the two thirds majority of the EXCO members.

They averred that despite the communication of the suspension to Kingibe, she has continued to hold parallel meetings, issue press statements as an ADC member, and using her security details to intimidate the executive committee.

“Her actions constitute flagrant disregard to the internal mechanism of the party,” the plaintiffs stated.

Meanwhile, a lawyer, Abubakar Marshall who claimed to be representing the senator, announced that he had filed a preliminary objection against the suit. He added that it was served on M. S. Garba, who stood for the plaintiffs at Thursday’s proceedings.

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COAS Shaibu Hits Jos To Restore Peace, Public Confidence

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The Chief of Army Staff (COAS), Lieutenant General Waidi Shaibu, visited Jos, Plateau State, on Thursday, April 2, 2026, to lead a high-powered security assessment following recent security breaches.

The visit was aimed at strengthening public confidence and reinforcing ongoing efforts to stabilize affected communities.

Colonel Appolonia Anele, acting Director, Army Public Relations, said in a statement that the visit forms part of ongoing efforts to restore calm and entrench lasting peace across the state.

According to the statement, upon arrival, the COAS was received by the Executive Governor of Plateau State, Caleb Mutfwang, in a clear demonstration of strong civil-military cooperation and a shared commitment to addressing emerging security challenges.

The statement said the COAS received a comprehensive operational briefing from the General Officer Commanding 3 Division and Commander, Joint Task Force Operation ENDURING PEACE, Major General Folusho Oyinlola, who highlighted ongoing operations and proactive measures being implemented in synergy with other security agencies to contain threats, protect lives and property, and stabilise affected communities.

“As part of his engagements, Lieutenant General Shaibu also interacted with community leaders and residents, reassuring them of the unwavering commitment of the Nigerian Army to safeguarding all law-abiding citizens.

He urged residents to remain calm, vigilant and supportive of security agencies by complying with the curfew and cooperating fully with ongoing operations and investigations, while going about their lawful activities.

The chairman of Jos North Local Government Area, Hon. Dachung Bagos, commended the COAS for the timely visit, noting that the presence of the nation’s top military leadership would boost public confidence and reinforce trust in ongoing security efforts.

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