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The Address Homes Harps on Professionalism as Lagos Seeks Support to Halt Real Estate Fraud

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AJAGBE ADEYEMI TESLIM

Sponsored by: H&H

A property development company, The Address Homes, has commended the drive by the Lagos State Government to tackle quackery and fraudulent activities in the real estate sector, describing the just-concluded 3rd Real Estate Market Place Conference and Exhibition as a huge platform created to deepen professionalism in the industry.


 
The luxury property development company said the decision of the state government through the Lagos State Real Estate Regulatory Authority, LASRERA, to create a platform for the players in the industry to discuss safety, technology, policies and showcase their products and services reinforces Governor Babajide Sanwo-Olu’s administration’s commitment to boost the sector.
 
The 3rd conference and exhibition with the theme: “Town Hall Meeting on the Lagos Real Estate Emerging Markets- Mitigating the Potential Risks” was held last Tuesday and Wednesday at the Eko Hotel and Suites, Victoria Island, Lagos.
 
The Address Homes which was one of the major sponsors of the event said it decided to partner with the Lagos State government on the project because of its desire to enthrone complete sanitisation of the industry and enhance growth in the burgeoning sector.
 
Speaking at the sideline of the Conference and Exhibition, Mr Segun Ogunbiyi, Marketing Manager, The Address Homes, said the company’s partnership with the government was purely for promoting integrity, professionalism, customer satisfaction and safety in the real estate industry in Nigeria.
 
According to Ogunbiyi, while the collaboration was meant to curb unscrupulous practices and promote global best practices and investment opportunities in the sector, the firm has continued to change the face of real estate development through the delivery of quality homes to high-income luxury homes seekers.
 
“The real estate market has different segments. There is an emerging market, there is a mid-market within the grassroots, and there is the upper-echelon market. We play in the upper echelon market whereby we build luxury homes for the VIPs, captains of industry, and oil and gas gurus. Those are the people we focus on because they can afford our properties.
 
“Our market is narrowed to a particular set of individuals and not the whole market.”
 
According to him, some of the company’s projects, included The Luxuria, on Alexander Road, Dan on Banana Road, Ikoyi, and Osapa London in Lekki, adding that the firm has also extended construction to Ikeja, GRA and Keffi Street, Ikoyi.
 
“When talking about luxury homes, standard housing construction, top-notch finishing and functionality location, affordability and serenity, The Address Homes is always there.
 
“We focus on this segment because we are in business to make a margin. We have seen the market and we discovered that there is a particular set of people that want the best location.
 
“We concentrate in urban locations. Sometimes, we approach the owner, go into a joint venture, build, operate and transfer to the owner,” he said.
 
Ogunbiyi, while adding that the Address Home has been known for professionalism, quality building with detailed finishing that can stand the test of time, noted, “We don’t cut corners; we build standard projects that stand the test of time. We do not compromise. That is the difference, and our finishing is top-notch.”
 
Also speaking at the conference, Morohuntoye Olufunke of the Client Service, Marketing unit of The Address Homes said the idea behind the conference aligns with the core values of the company which are hinged on professionalism, integrity and customer satisfaction.
 
“As a realtor and stakeholder, you must have knowledge of what is going on in the industry; you must also know that there are checks and balances in the operations within the sector and those are part of what this marketplace is designed to address. Various stakeholders within the industry have been able to interact and share ideas that can uplift the real estate sector.
 
“As one of the exhibitors, the event has been able to create a platform for us to showcase our potential to do things differently. We have said that The Address Homes doesn’t just do construction, we build homes with a combination of high-class contemporary architectural design and high-level finishes with respect to designs and styles that meet consumer passion, taste and comfort. Our projects including The Luxuria, located on Alexander Road, Dan and Dan located on Banana Road, Ikoyi, Osapa London among others speak of the difference we bring into construction,” she said.

Speaking earlier at the conference and exhibition, Lagos State Governor, Babajide Sanwo-Olu who was represented by his deputy, Dr Obafemi Hamzat, described the real estate sector as the biggest employer of labour in the country with the potential to open the floodgate of economic prosperity for not only the state but the nation.
 
The governor said the industry with a propensity to be the cash cow for the people needs to be protected against quackery, and unprofessional attitudes of practitioners who could compromise safety and hurt the citizens.


 


He said, “We are worried about the emerging trends and practices in the sector in recent times which has now called for increased vigilance on the part of all genuine practitioners and the government in view of the rate of reported cases of dubious acts by some real estate agents who are taking undue advantage of the market which has become one of the fastest growing in Nigeria and Lagos State in particular as a result of increasing population.
 
“Our government through LASRERA has defined minimum operational standards and guidelines for citizens to abide by, adding that the guidelines provide a comprehensive checklist for the citizens to correctly identify and have a competitive list of registered individuals/organizations to avoid doing business with unregistered Real Estate practitioners in the system.
 
Sanwo-Olu said the private sector must collaborate to prevent the proliferation of fraudulent activities in the real estate market.
 
“The emerging trends and practices in this sector in recent time call for increased vigilance on the part of all genuine practitioners and the government in view of the rate of reported cases of dubious acts by some real estate agents who are taking undue advantage of the market which has become one of the fastest growing in Nigeria and Lagos State in particular as a result of increasing population,” he said.
 
The Governor pleaded with residents and everyone interested in the real estate business to be cautious in any financial transaction they engage in by fact-checking the track records of the organisations they are dealing with to ascertain if the individual or organisation is registered with LASRERA and other relevant government Agencies in the sectors.


 
On her part, the Special Adviser to Lagos State Governor on Housing, Mrs Toke Benson-Awoyinka, who oversees the Lagos State Real Estate Regulatory Authority, LASRERA said that the Real Estate Sector has been plagued with risks and losses which have been critical issues for those in the Sector.
 
Benson-Awoyinka said that the quest for transparency in business transactions in the Real Estate Market necessitated the need for the involvement of the government in the regulation of the Real Estate Sector.
 
She said Lagos State Government was determined to ensure sanity was restored to the State’s Real Estate Environment with the review of the Agency’s law.
 
 “Impersonation in the Real Estate Industry is becoming unethically high which is contributing to the increase in the fraudulent activities in Real Estate Market, hence the need for Government intervention.
 
“This development calls for appropriate regulation, implementation and enforcement of the Real Estate Laws in order to restore sanity into the sector and instil public confidence in the real estate profession and it explains why the Lagos State Real Estate Regulatory Authority – LASRERA is mandated to regulate and register those individuals/organisations who are involved in this Sector.
 
“One significant potential risk involving the Real Estate Market is identifying the Real Stakeholders of this Market, and in doing this, there must be Watchet to Monitor activities of operations towards the development of the Sector effectively.
 
“As an integral part of the Real Estate Environment, Government’s regulations must address the ethical standards of potential risk in terms of losses for the protection of the citizenry’s investments,” Benson-Awoyinka said.

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TCC is Required, WAEC Exams Still Free in Lagos, LIRS Clarifies

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TCC is Required, WAEC Exams Still Free in Lagos, LIRS Clarifies

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

The Lagos State Internal Revenue Service (LIRS) has reiterated that the provision of FREE West African Examinations Council, WAEC registration for SS3 students in state-funded secondary schools is a vital policy of the Lagos State Government and that free education policy from kindergarten to SS3 is still in operation.

This initiative, part of the THEMES PLUS agenda, is included in the government’s broader efforts to provide essential services such as affordable housing, efficient transportation, free healthcare, youth and small business empowerment programs, enhanced security, and better road infrastructure, among others.

Mr. Ayo Subair, Executive Chairman of LIRS, stated, “It is standard procedure to require a Tax Clearance Certificate (TCC) to access government services. To obtain a TCC, individuals must file their annual tax returns for the applicable assessment year and ensure their tax payments are currently based on their declared income.”

He highlighted that this requirement has been in practice for a long time and aligns with Section 85 of the Personal Income Tax Act (PITA) 2004 (as amended).

It is important to emphasize that every resident of the state, whether in formal employment or not, is required by law to file annual tax returns, declaring their income and paying any taxes due.

This requirement is backed by the Nigerian Constitution, it is also the law, as stipulated in the PITA and part of the social contract between the government and residents.

The Lagos State Government is dedicated to offering quality and efficient services to its residents. As part of this mission, it mandates that all taxable individuals register with the tax authority, submit their returns, and pay applicable taxes to maintain an updated Tax Clearance Certificate (TCC).

Mr. Subair explained that tax compliance is essential for the sustainability of public programs and services.

He noted that requiring a TCC for access to free services is not a new policy but a longstanding practice intended to foster fairness and transparency in using public resources. Tax revenues help fund various public programs that benefit millions of Lagos residents. For informal sector taxpayers, who might not have detailed financial records, the government has introduced a presumptive tax of ₦10,100 (comprising ₦10,000 in annual tax and a ₦100 development levy) to facilitate their inclusion in the tax net.

To enhance convenience and streamline the process, LIRS has deployed staff and agents to markets and schools, establishing one-stop centers where individuals can obtain their TCC without needing to visit tax offices. Flexible payment options, including installment plans, are also available, though full payment must be completed before the TCC is issued.

He also added that the TCC of guardians will be accepted from students who do not reside with their biological parents.

“The aim is fairness, accountability, and sustainability,” emphasized Mr. Subair. “This policy is not about inflicting hardship, but rather ensuring that everyone, including those in the formal sector, contributes their fair share to sustain the provision of essential services.”

By meeting their civic responsibilities, residents play a role in the growth and development of Lagos State, reinforcing the government’s commitment to enhancing the quality of life for its citizens.

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LAWMA Intensifies Enforcement, Waste Clean-up Across Lagos

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… Agency Urges Residents to Stop Patronising Cart Pushers

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

The Lagos Waste Management Authority (LAWMA) has intensified its enforcement and clean-up operations across the state to curb indiscriminate waste disposal and maintain environmental sustainability.

The agency’s Managing Director and Chief Executive Officer, Dr. Muyiwa Gbadegesin, emphasised LAWMA’s unwavering commitment to keeping Lagos clean, noting that the monitoring and enforcement team had been mobilised to ensure compliance with waste management laws of the state.

He said, “LAWMA remains resolute in stamping out illegal waste disposal and environmental violations. Our Environmental Monitoring and Enforcement Anti-Cart Pushers Squad has been actively dislodging illegal waste operators who contribute to the degradation of our environment. We urge residents to desist from patronising them and instead work with registered PSP operators for proper waste disposal.”

Gbadegesin said the enforcement team recently carried out major operations in areas like Ifako-Ijaiye, Dopemu, Agege, Ojodu Berger, and other parts of Lagos, apprehending cart pushers known for collecting waste and dumping it at unauthorised locations, stressing that such activities violated environmental laws and undermined the state government’s efforts at maintaining a clean and livable city.

He warned that ignorance of the law is not an excuse and anyone caught engaging in cart pushing would be made to face the full wrath of the law.

The LAWMA boss further noted that the Authority had also commenced the evacuation of waste from illegal dumpsites along the Lekki-Epe Expressway, particularly behind Circle Mall, adding that the operation, simultaneously taking place at Mile 2 Badagry expressway, would continue in the coming weeks, in line with the agency’s ongoing efforts to clear accumulated waste, remove silt along the median and verges and prevent indiscriminate disposal along highways.

In a separate exercise, LAWMA has intensified efforts to clean up Lagos waterways, ensuring that rivers and water bodies remain free of waste and blockages. The initiative is aimed at reducing environmental pollution and promoting cleaner water channels across the state.

Gbadegesin urged Lagosians to support LAWMA’s initiatives in 2025, by properly disposing of their waste, reporting service gaps, and calling the agency’s helplines for backup waste collection services.

“A cleaner Lagos is achievable when everyone plays their part. We urge residents to work with assigned PSP operators, report waste-related infractions, and adopt responsible waste disposal habits. Together, we can create a cleaner and healthier city for all,” he added.

For waste management related issues and complaints, please call LAWMA toll-free numbers: 080000LAWMA (08000052962), 07080601020 and 617, or visit www.lawma.gov.ng.

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Access Bank Appoints Uche Orji as Independent Non-Executive Director

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Access Bank Appoints Uche Orji as Independent Non-Executive Director

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

Access Holdings Plc (‘the Company’) is pleased to announce the appointment of Mr. Uche Orji as an Independent Non-Executive Director of its flagship subsidiary, Access Bank Plc (‘the Bank’), effective from January 7, 2025, following the approval of the Central Bank of Nigeria (‘CBN’).

This appointment reflects our commitment to enhancing our governance practices and ensuring a diverse and experienced board.

Mr. Orji is a renowned investment banking professional, information technology entrepreneur, and finance expert with three (3) decades of professional and board experience. He is the Co-founder and Partner of Titangate Capital Management, an equity firm that invests in deep-tech, enterprise software, semi-conductors, hardware, and artificial intelligence companies.

He is the Founder and Director of Vitesse Africa Limited, an investment advisory firm focused on African energy, technology and infrastructure sectors. He serves as an Executive Board member and investor in Ultrasafe AI, an artificial intelligence/IT development firm that maintains strategic collaborations with leading technology companies. He also sits on the Board of Private Infrastructure Development Group, London, and chairs the Risk Committee.

Previously, Mr. Orji served as the founding Managing Director and Chief Executive Officer of Nigeria Sovereign Investment Authority. He held positions as Managing Director and Senior Analyst at UBS Securities Limited New York and Managing Director and Head of European Technology/Semiconductor Equity Research at JP Morgan Securities, London. He also served as Executive Director/Portfolio Manager at Goldman Sachs Asset Management, London. Earlier in his career, he was Acting Financial Controller at Diamond Bank Limited and an Audit Trainee at Arthur Andersen & Co.

He holds a Bachelor of Engineering Degree in Chemical Engineering from the University of Port-Harcourt and a Master of Business Administration from Harvard Business School.

Commenting on the appointment, Mr. Paul Usoro, SAN, the Chairman of the Bank said:

“Mr. Orji has been appointed based on his exceptionally rich professional, academic, and corporate board experience which will be invaluable to the Bank as we continue to pursue our strategic objectives.

We are confident that his addition to the Board would further enrich the quality of our decision-making process, enabling us to deliver even greater value to our customers and stakeholders.

His appointment has been made in accordance with the Bank’s internal policies and has been notified to all relevant regulatory authorities underscoring our commitment to upholding the highest standards of corporate governance.

On behalf of the Board, Management and staff, I warmly welcome Mr. Orji to the Board and look forward to his contributions towards our goal of becoming one of the top 5 African Banks in the shortest possible time.”

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