Client threatens legal action against firm over allocation dispute

A client of Pentagon Real Estate Investment Limited, Mr Ademola Oluwaranti has urged the company to release the two plots of land he bought from them to prevent him from suing them.

Oluwaranti said he bought his land from the Pentagon in 2008 and after paying for survey and documentation, he was told that the land was undeveloped and unfit for allocation.

As a result, he sued the firm in 2012, praying the court to order them to release the land to him.

In a considered ruling in 2015, the court consented to his prayers and ordered the firm to release the lands.

Consequently, the firm asked him to pay a fee for rezoning or reallocation to a better place.

Yet again, the firm allocated another land to him inside a thick bush in 2020 after paying a relocation fee of N2.6 million, which includes money for survey and documentation on August 27, 2024.

He recalled that the land is situated at Block C11, Plot 9, on Pentagon Real Estate Limited Mainland Park Estate Layout along Otere-Oba, Apena and Luwoye Villages Road KLM 48 Lagos/Ibadan Expressway in the Obafemi Owode Local Government Area of Ogun State.

“Now after reallocation, they are asking me to pay an additional N7 million for development levy before I can be given possession,” Oluwaranti said.

According to his counsel, A.G Solarin, Oluwaranti subscribed to the Pentagon real estate development scheme named Mainland Park City Phase 2 in 2008.

He explained: “After paying the consideration for the two plots of land and other fees related thereto, the company failed and/or refused to allocate and release the two plots of land; notwithstanding repeated demands made for it by our client.”

In response to the claims, the clients service coordinator of Pentagon Real Estate Investment Limited, Ms Sofia Ike, told The Guardian that Oluwaranti bought two plots of land from the company.

Ike said he (Oluwaranti) was not given the land because most of the lands were not yet developed.

“Therefore, the option for relocation was agreed upon. Re-allocation costs N400,000 per plot. Since he bought two, he paid N800,000. So, he had to pay N1.8 million in total for the documentation.

“We don’t coerce people to pay for re-allocation. Everything about giving him the two plots was going on well until he was told to pay N7 million for development and he refused.

But our chairman is available to iron out the matter with him,” she said.