A Nigerian couple based in the United States is demanding N22m in compensation from Landwey Investment Limited over a contract breach, leading to value depreciation in money paid for two property along Ogombo Road, Lagos State.

The couple, Olubukola Akande and Oluyomibo Olaniyan, claimed that they paid a sum of N26 million ($44,084 at the time) between February 18 and March 19, 2022, which is part of the agreed N56.7 million total for the purchase of a three-bedroom terrace duplex located at OnyxUrban Prime Three Phase 2 and a corner property.

“Two years later, Landwey failed to fulfil the agreement, prompting us to request a refund and compensation,” the couple told reporters in Lagos recently.

According to the couple, a partial refund of N10m was received from Landwey on September 13, 2023, but it reneged on its promises to pay the balance.

That, they noted, prompted them to write a petition against the property developer to the Special Adviser to Lagos State Governor on Housing, Lagos State Real Estate Regulatory Authority on January 8, 2024.

The petition read in part, “We call on your good office to save our life investment from being taken away from us. We have perceived Landwey as a sham and scam.

“We have confidence in the Lagos State Government to come to our rescue by intervening such that Landwey can refund our balance even with interest on the money. We also hope that the state will eliminate the company so that no one else falls victim (sic).”

However, in a mail seen by newsmen, the couple acknowledged receiving the balance of N16.45m on Wednesday, January 24, 2023

The mail read, “Hello: I hereby acknowledge your refund of N16.45m. Nevertheless, we must emphasise to you our strong discontent with your unprofessional conduct that led to the refund after over 18 months of our fund transfer to your company concerning the property in context.

“The waiting period for the refund had detrimentally devalued the money by well over 50 per cent of its original value. A legal firm cum recognised valuer firm is working on this to establish our case.

“May I let you know, that I will formally bring a closure to this transaction, not only after an adequate litigation process by our legal team is established against you over the extended delay. They shall be demanding adequate devaluation compensations for the abuse of trust reposed in you that had caused me undue and untold stress. Thanks.”

In an exclusive interview with newsmen, a senior official at Landwey, Chinonye Peace, said the couple had an understanding with the company and had been fully refunded.

She said, “The client has been fully refunded in January 2024, and there is an understanding with the company that if they have any grievances, the contract stipulates the terms upon which these grievances can be addressed. We would like to hear properly from the legal representatives of the client.

“The client is not owed, and at the time of the refund, they did not ask for the interest. Whatever they want to do, I am sure they have the right to do it. They will hear from the lawyers in due time. We have not gotten any formal complaints save the bloggers who started calling us.”

Peace stated that if a letter of complaint was sent by the couple, the company’s legal team would address it accordingly.

She added, “For now, there is nothing to respond to because we have not been formally addressed.”

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