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Near crisis averted as firm repossesses property in Lagos

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Officials of Toddler Investment taking possession of Planet One in Ikeja, Lagos

A near crisis situation was averted in Lagos on Wednesday when owners of Toddler Investment forcefully took possession of the building that housed Planet One, a popular hospitality centre located at Mobolaji Bank Anthony Way, Maryland, Ikeja based on a court order from a legal tussle that spanned about three years.

Efforts to regain the property began as early as 11:00a.m. but with slight resistance from the occupants and workers. Attempts by owners of Toddler Investment to gain entrance into Planet One were initially resisted by security agents but for the reinforcement of armed police officers and some hefty looking young men, who accompanied the court enforcers before the gate to the property was eventfully forced opened.

The management team of Toddler Investments, who were accompanied by court officials, lawyer and security agents took possession of the land at 2:30p.m. by painting “MIK/935/19 Possession taken today 16/10/19 by Court Order” on some parts of the wall and building.

It would be recalled that Planet One was shut down in April 2017 following a protracted legal tussle, but after the closure, there had been contention over the ownership of the land. Toddler, which leased the land, repossessed it on Wednesday based on the Execution Order of the Lagos State Magistrate Court in Suit No. MIK/935/19.

Speaking to journalists, a director of the company, Jimmy Odiamehi, said he is happy taking back his property, just as he disclosed that the total worth of the property is about N4.56 billion. He further disclosed that the repossession was the beginning of many steps, as there are moves to also investigate the looting of the property.

Odiamehi only took possession of part of the property that belongs to Toddler.


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