The Kosoko Royal Family has disowned TBT Properties Limited and Prince Abiola Olojo-Kosoko over purported dealings involving 114.478 hectares of land at Ogombo Village, Eti-Osa Local Government Area of Lagos State, warning prospective buyers, investors and property developers to verify any claims of authority before entering into transactions.

At a press conference, the family denied appointing TBT Properties Limited, represented by Timothy Ogbonna, as its attorney for transactions involving the property. It also stated that neither the company nor Prince Olojo-Kosoko had its authorisation to negotiate sales, allocate land, collect payments or enter into agreements on its behalf without the consent of the family head or duly authorised representatives.

The family identified Tokunbo King, Esq., of Kings & Co. Barristers and Solicitors, as its legal adviser, adding that only representatives formally recognised by its leadership could act on its behalf in matters concerning the land.

In a related clarification, the family reaffirmed its recognition of Chief Akindele Akinfolabi of Adamakin Investment Limited as the Sole Power of Attorney of Madam Iyalode Efunroye Tinubu in respect of the estate interests concerned.

It also expressed support for the lawful implementation of an existing judgment of the Lagos State High Court.

The judgment was delivered on November 12, 2024, by Justice O.O. Ogunjobi of the court’s Lands Division, Court 37, in Suit No. LD/12881LMW/2022. The court adopted the Terms of Settlement reached by the parties.

According to the family’s rejoinder, the settlement covers 114.476 hectares of land at Ogombo Village, Eti-Osa, identified in Survey Plan No. OGJ/5283/006/2023/LA, dated October 26, 2023. It also provides for N1.5 billion in settlement and compensation.

The family maintained that the matter concerns the implementation of the existing judgment and settlement, rather than an application for a fresh judgment.

It disclaimed responsibility for sales, allocations, receipts, agreements or other commitments made by TBT Properties Limited, Prince Olojo-Kosoko or any other party without the approval of its recognised representatives.

Prospective purchasers, investors, developers and property agents were urged to authenticate any purported mandate before making payments or committing to a transaction. Those who had already received offers, allocations, receipts or agreements concerning the property were advised to seek clarification from the family’s authorised representatives before proceeding.

The family reserved the right to pursue appropriate civil, criminal, regulatory or other legal remedies against parties involved in dealings it considers unauthorised.

The rejoinder was issued in the names of Alhaja (Chief) Mutiat Ashabi Abimbola Alli-Balogun, identified as Oloriebi General of the Kosoko Royal Family, and El-Hajj (Prince) Sikiru Adeoye Kosoko, the family’s general secretary.

The document lists the family’s address as 32, Ereko Street, Kosoko Palace, Idumota, Lagos.