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LAGOSHOMS BENEFICIARIES TAKE FULL OWNERSHIP OF PROPERTIES

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…..Sanwo-Olu presents Exit Certificates to allottees, initiates new redemption policy to service mortgage

…..Governor names Ilupeju LagosHOMS Estate after late Oba Olatunji Hamzat

 

First set of beneficiaries of Lagos Home Ownership Mortgage Scheme (LagosHOMS) have fulfilled their 10-year payment obligations to fully own the properties allotted to them by Lagos State Mortgage Board in 2014.

Governor Babajide Sanwo-Olu presented Exit Certificates to the allottees at a ceremony held in NECA House, Ikeja, on Thursday. The instruments now fully conferred the ownership rights of the properties on the beneficiaries, following the completion of their mortgages.

The properties, which were built by the State Government, were purchased and allotted through a rent-to-own scheme managed by the Board. Since inception of the mortgage scheme in 2014, no fewer than 20,000 Lagosians have subscribed to the scheme, which has made it easier for people with limited capital to buy and own decent homes.

LagosHOMS is a welfarist initiative designed by the Lagos State Government to bring succour to low- and middle-income families and assist them in achieving their dreams of becoming property owners.

Sanwo-Olu said the fulfillment of the mortgage obligations by the allottees was a proof of acceptability of the scheme among State’s residents. He said the State Government had made significant strides in the provision of affordable housing, with renewed efforts to address the housing deficit through a number of simple interest schemes designed for average families.

The Governor reiterated that his administration remained steadfast and committed to reducing the deficit in the State’s housing market, while making affordable homeownership options available for the State’s growing population.

He said: “Today, we celebrate a decade of social housing delivery through LagosHOMS, which reflects the progress we have made in our journey towards providing affordable housing for the people of Lagos. We are marking the successful ownership of homes by Lagosians who have fulfilled their mortgage obligations. This is proof of our administration’s commitment to making homeownership a reality for our citizens.

“We remain steadfast in our efforts to reducing the housing deficit in Lagos and providing more affordable options for our growing population. Our focus will continue to be on increasing access, while improving the quality of our housing units, expanding mortgage financing options, and collaborating with stakeholders to drive further housing development and enhance the lives of our citizens.”

Sanwo-Olu, at the event, approved a new LagosHOMS redemption policy, which presents an opportunity for an early exit from the mortgage rent-to-own contract.

According to the new policy, allottees that have spent a minimum of six years on the rent-to-own scheme and can afford to pay off their balance ahead of time can now exit without having to wait until the 10th year originally agreed in their allocation documents.

The Governor said his administration introduced and supported legislative reforms aimed at streamlining housing delivery processes, reducing bottlenecks in land acquisition, and ensuring transparency in housing allocation.

The Deputy Governor, Dr. Obafemi Hamzat, said the mortgage financing model was key to addressing housing demand and enhancing development in the States.

He said: “All over the world, housing demands have been adequately managed through the mortgage system. The scheme makes it easy for an average income earner to own a home without having his life disrupted. It reduces the stress of having to build bit by bit.”

Commissioner for Housing, Hon. Maruf Akinderu-Fatai, said the completion of the mortgage obligations by the allottees made the State Government to be proud of the initiative, stressing that the scheme was a testimony to sustainability of governance in Lagos.

The Commissioner said 75 per cent of housing stocks built by the Ministry of Housing was allocated for LagosHOMS, with 6 per cent simple interest rate.

Akinderu-Fatai urged beneficiaries to maintain the aesthetics and structural standard of the properties bequeathed to them.

General Manager of Lagos State Mortgage Board, Mr. Bayowa Foresythe, explained that the allottees went through the pre-qualification process, which assessed their Debt-to-Income (DTI) ratio before finally being issued allocation documents and keys.

He said the monthly payments by the mortgagors were re-invested into provision of more affordable housing units across the State.

“We use this opportunity to encourage other beneficiaries of our mortgage and rent-to-own schemes, who are yet to complete their obligations to continue making their repayments, insurance and facility management fees as at when due. This will help in maintaining the schemes for sustainability,” Foresythe said.

Sanwo-Olu named the Ilupeju LagosHOMS Housing project after the late Oba Mufutau Olatunji Hamzat, an elder statesman, political leader in Mushin and father of the Deputy Governor.

 

 

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Couple Kidnapped, One Shot In Ondo Estate Attack

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Gunmen suspected to be kidnappers have abducted a couple from their residence in the Iluabo area of Akure North Local Government, Ondo State.

During the attack, which occurred in the early hours of Saturday, February 21, 2026, the assailants shot one person before seizing the victims.

The gunmen had stormed Olaribigba Estate in the community when they whisked Mr Jamiu Olawale and his wife into the bush.

Following the development, which has created tension in the agrarian community, residents protested and barricaded the road leading to the community over the incessant kidnappings and insecurity in the community.

According to sources, the couple had arrived at their residence in an ash-coloured Toyota Camry when they were attacked by the gunmen, who lay in ambush for them.

During the incident, a neighbour of the abducted couple, Patrick Ilumaro, who was seated in front of his residence, was shot by the gunmen while fleeing from the community.

A neighbour of the victims revealed that Ilumaro was swiftly rushed to an undisclosed medical facility where he is currently receiving medical treatment.

While confirming the incident, the Ondo State Police Command disclosed that tactical teams as well as conventional operatives have been deployed to the community.

In a statement issued by the Police Public Relations Officer, Abayomi Jimoh, the operatives are already combing the axis in an effort to rescue the victims and apprehend the perpetrators.

“Concerted efforts are ongoing to ensure the safe return of the abducted persons and bring those responsible to justice.

“Members of the public are urged to remain calm and go about their lawful activities. Meanwhile, the Command urges them to provide credible and actionable information that may assist in the investigation to the nearest police station.”

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Brake Failure Leaves One Dead, Four Rescued At Abule-Egba

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One person died and four others were rescued following a road accident at Ekoro Junction, Abule-Egba, on Friday evening, according to a statement from the Lagos State Traffic Management Authority.

The Director, Public Affairs and Enlightenment Department of LASTMA, Adebayo Taofiq, made this known in a statement issued on the agency’s X handle on Saturday.

According to the agency, the crash occurred at about 7:30 p.m. when an empty MACK tanker suffered a sudden brake failure, lost control and rammed into a Toyota Corolla before crashing into a roadside shop.

LASTMA said the tanker, with registration number EKY 900 XY, collided with a Toyota Corolla marked AAA 823 AY.

The impact caused extensive structural damage to the shop and triggered panic among traders and pedestrians in the area.

“The magnitude of the collision led to the immediate confirmation of one fatality at the scene, while four other trapped persons were extricated from the wreckage through coordinated emergency rescue efforts,” the agency stated.

The authority said it immediately activated its Rescue and Recovery Protocol, deploying specialised operatives to manage the situation.

“Personnel implemented strategic traffic diversion, vehicular evacuation procedures and crowd management in synergy with other emergency responders to forestall secondary incidents and guarantee unobstructed access for rescue operations,” LASTMA added.

It stated that emergency teams carried out rescue operations and provided medical attention to the injured victims.

According to the agency, a heavy-duty tow truck was later deployed to evacuate the damaged tanker and clear debris from the road to restore normal traffic flow.

The agency disclosed that the tanker driver fled the scene shortly after the crash and security operatives have since launched efforts to apprehend the driver and initiate legal proceedings.

“Security personnel from the Nigeria Police Force, Ekoro Division, responded expeditiously, maintaining public order, securing the accident perimeter and assisting in investigative processes aimed at establishing the precise sequence of events that culminated in the mechanical failure and subsequent collision.

“The incident precipitated considerable traffic congestion extending across adjoining routes toward Abule-Egba, necessitating robust traffic management interventions by LASTMA officials who remained on ground directing vehicular movement and implementing diversion strategies to alleviate the backlog,” it said.

According to the agency, its General Manager, Olalekan Bakare-Oki, expressed condolences to the family of the deceased and urged transport operators, particularly drivers of articulated vehicles, to prioritise routine vehicle maintenance.

“Preventable mechanical deficiencies remain a significant contributory factor in severe road traffic crashes,” Bakare-Oki said.

He also advised motorists to exercise vigilance, obey traffic regulations and maintain responsible driving practices, especially within densely populated commercial corridors.

Bakare-Oki assured the public that security agencies would conduct a thorough investigation to determine the immediate and remote causes of the incident and ensure that anyone found culpable would be prosecuted in accordance with extant laws.

The agency said other emergency responders at the scene included the Lagos State Emergency Management Agency, the Lagos State Fire and Rescue Service, the Lagos State Ambulance Service, the State Environmental Health Monitoring Unit and officers of the Nigeria Police Force, collaborated to coordinate rescue, medical response and environmental safety measures.

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Court Sets Feb 25 For El-Rufai’s Arraignment In DSS Cybercrime Case

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The Department of State Services (DSS) will arraign former Governnor of Kaduna state, Nasir El-Rufai, on February 25 over alleged cybercrime and breach of national security.

Justice Joyce Abdulmalik of the Federal High Court has fixed the date for the arraignment of the former Governor on a three-count criminal charge filed by the Department of State Services (DSS) after the Chief Judge, Justice John Tsoho assigned the case to her.

NAN earlier reported that the DSS, on Monday, filed a three-count criminal charge against El-Rufai following his alleged involvement in wiretapping the telephone lines of the National Security Adviser (NSA), Mallam Nuhu Ribadu.

The charge, instituted by the Nigerian secret police, is marked FHC/ABJ/CR/99/2026.

The service accused El-Rufai of breaching the Cybercrimes Prohibition Act (2024) and the Nigerian Communications Act (2003.)

In court, El-Rufai was alleged to have, on Feb. 13, while appearing as a guest on Arise TV station’s Prime Time Programme in Abuja, admitted during the interview that he and his cohorts unlawfully intercepted the phone communications of the NSA, Mr Ribadu.

The offence is said to be contrary to and punishable under Section 12(1) of the Cybercrimes (Prohibition, Prevention, etc.) Amendment Act, 2024.

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