Olawale Ayilara’s Landwey Investment defrauds another US based Nigerian

Olawale Ayilara’s Landwey Investment defrauds another US based Nigerian

Barely weeks after being accused of defrauding a Nigerian entrepreneur based in the United Arab Emirates, Olawale Ayilara and his Landwey Investment L

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Barely weeks after being accused of defrauding a Nigerian entrepreneur based in the United Arab Emirates, Olawale Ayilara and his Landwey Investment Limited, has again been accused by another Nigerian based in the United States of defrauding her of the sum of N14m and refusing to give her the house she paid for or refund money paid.

This is despite transferring her purchase to a different apartment and without commitment to a specific time for completion, The Street Journal reports.

Recall that about three weeks ago, a Nigerian businessman based in the UAE had publicly accused Ayilara of defrauding him of the sum of N42m.

The Nigerian (name withheld) said that he was assured that his house for which he paid the money for, would be ready by November 2020. This was after he first deposited N5 million for the roofing of the house in June 2020.

Unfortunately, the company kept dribbling him for two years. When he asked for a refund of the full payment he made, he was told he would only get back 30 per cent of what he paid.

Following his public outcry, Ayilara proceeded to do some damage control by planting stories in the media of being a reputable organisation which only experienced a slight hitch in their operations which will be promptly addressed.

But no sooner had he embarked on his image laundry drive that another Nigerian (name withheld) called him out for defrauding her and refusing to allot her a permanent allocation on the purchase of an apartment in their Urban Prime (UP) development, despite keeping her own side of the bargain.

Here is her story below:

I am a Nigerian woman working in USA. I wanted to purchase an apartment in Lagos as a place to stay with my family whenever I visited and as an investment property. This is how I found out about Oxygen Holdings Nigeria, doing real estate business as Landwey Investment online.

The presentation of substantial development on their website, promotional videos by well-known realtors, along with endorsements from Nigerian singer, Timi Dakolo and Omoni Oboli plus awards proved quite compelling, so I contacted them in February 2021 to acquire a one-bedroom unit in their new UP development on Ogombo Road, off Abraham Adesanya, Lagos.

After receiving the terms and conditions of sales, I gave Landwey an initial deposit of N3,012,625 that month to enter into a 12-month payment plan contract for my unit upon Landwey’s instruction, and then made additional payments throughout June 2021 to reach N10, 534, 200, which amounts to 50% of the total purchase price (N19,467,000), the threshold required for construction of my apartment to begin.

Prior to making the initial deposit, I had informed Landwey representative of my need for a secured accommodation, as well as my date for occupancy starting December 2021. However, during this period, I did not receive an alert from Landwey about potential difficulties with meeting my demand close to the requested need date.

After June 2021, I received an allotment “subject to change” from Landwey, followed with a contractual purchase document which did not specify my allocated unit, nor did it reflect an estimated date for completion. I immediately pointed this out to Landwey representatives as a major concern and requested for an adjustment to align the contract terms as per our initial agreement and terms prior to making deposits.

In response, Landwey verbally committed to completing my unit and assured me my allotment would be ready for inspection and occupancy by December 2021 but did not make the requested adjustment in writing.

After receiving this information in August, 2021, I resumed making installment payments throughout October 2021, and kept forwarding notices of my faithful fund deposits to the designated bank account via emails. In return, I expected a valid contractual document reflecting the initial terms and agreement prior to purchase; specifying my permanent allotment and a date for completion as well as notifications on the progress of my construction, but received no response to my requests, only periodic form emails.

Lacking any real communication about issues raised, I withheld making additional deposits after October 2021 until my attorney could visually inspect issued documentation. Once, I attempted to make an appointment online for my attorney to physical inspect the property on my behalf but did not receive response to my online request.

The total amount of funds deposited with Landwey as of October 2021 was N14, 151, 525. On January 18, 2022, I sent Landwey a follow up email request to schedule an inspection for my attorney, this again was ignored.

Finally, I addressed a direct complaint to the company on January 26, 2022 stating my concerns, my perceived safety risks and demanding a permanent allotment or full refund of my deposits by February 9, 2022. This at last prompted few calls from Landwey’s customer service and leadership staff who “apologized for the inconvenience that I may be experiencing,” but also informed me that the estate was still under construction and my unit was not ready for inspection.

They further alleged that, according to the contractual document delivered to me after 50% of payment for purchase had been made, allotment of my unit would still be “subject to change” and, as such, were transferring my purchase to a different apartment and without commitment to a specific time for completion.

At this point, it became apparent that Landwey had no intention of fulfilling its obligation. So, I contacted my Attorney and requested for legal support. Twice my Attorney issued my demand to Landwey between March 1st and April 8th , 2022 through registered mails, which, surprisingly went ignored.

Since this time, I have received no further communication addressing my concerns from Landwey, but within days of publishing the initial report by the UAE Nigerian Entrepreneur, Landwey issued a form apology to its customers, with no attempt to redress my situation.

A form email received on April 6th, 2022 indicates that the UP development is now slated for completion in December 2023, which, if true, would be two full years after the date they first promised.

Seeing how Landwey has ignored my requests for a permanent allocation or refund, I feel this claim is entirely fraudulent, intended only to dodge responsibility and fend off further inquiry into their duplicitous practices. So far, my dealings with Oxygen Holding-Landwey have depleted my life savings and peace of mind, placed me in severe financial jeopardy and at risk of becoming homeless or attacked given the current insecurity conditions in Nigeria.

I feel I have slim hope of ever recovering my money without further exposé and wish to share this story with the public in hope of shedding light on Oxygen Holding-Landwey’s dealings, and to beg well-meaning Nigerians to
intervene and help me recover my invested capital so I can get a replacement apartment.

It seems readily apparent that the construction projects Landwey is retailing are little more than an elaborate Ponzi scheme or Lottery program neither of which is the guaranteed property investment I signed up for per initial terms and agreement prior to first deposit. To be clear, I am no longer comfortable with the retailing program.

While I am certain not to be alone in this situation, please note that I am not pursuing this matter simply to redress my own exploitation. I am hoping that public awareness of this situation will lead to governmental reform of Nigeria’s real estate practices and the institution of safeguards to prevent further duplicitous schemes. Such changes need to include a searchable database of verified real estate developers, and the creation of a regulatory agency to oversee the permitting and implementation of public real estate developments and transactions, with a government-
appointed ombudsman to field and manage complaints and violation

With all being said, I must insist, however, in remaining completely anonymous in anything you will publish, as you did with your source in the initial report by Nigerian UAE. If you or any member of the public wish to get more information, I will ask that you please contact my Attorney with Falana & Falana’s Chambers to request further information or to arrange a discussion.