Justice Sunmonu Tunde Bashiru of the Lagos State High Court has adjourned a breach of contract lawsuit filed by subscriber Olufemi Enahoro Odiri against real estate firm DNJ Properties and Investment Limited to November 10, 2025, for hearing.
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Odiri, represented by his counsel, Ademola Adefolaju, instituted the suit marked LD/ADR/5956/2025, alleging the defendant’s failure to deliver a two-bedroom apartment despite his full payment of ₦50 million, even after repeated demands.
During Thursday’s proceedings, Adefolaju informed the court that the defendant had been duly served with all processes but failed to file any response. Justice Bashiru subsequently ordered a hearing notice to be served on DNJ Properties and adjourned the matter accordingly.
In his statement of claim, Odiri seeks several reliefs, including:
- A declaration that, under the executed contract of sale and having fully paid the agreed consideration, DNJ Properties is obliged to allocate him one unit of a two-bedroom apartment at Plot 14 & 16, Eru Ifa Street, Ikate, Lekki, Lagos.
- An order compelling the defendant to immediately allocate the apartment in line with the agreement.
- Alternatively, if allocation is refused, an order directing DNJ Properties to pay ₦200 million, representing the current market value of the apartment.
- ₦5 million as the cost of prosecuting the suit.
- Pre-judgment interest at 21% per annum on the claimed sum until judgment, and post-judgment interest at 19% per annum until full liquidation.
The dispute stems from a joint venture agreement between DNJ Properties and the property’s original owner, Mr. Michael Adekunle Oniyitan, granting the defendant equitable interest in the land via a Deed of Assignment dated July 13, 2000, registered as No. 12 at Page 12, Volume 2137 at the Lagos Lands Registry, Alausa, Ikeja.
Under the agreement, DNJ Properties was to develop 13 units of two-bedroom apartments, two units of three-bedroom apartments with boys’ quarters, and two maisonettes with boys’ quarters. In 2023, the firm, through its agents, Kolawole Olorode and Mr. Niyi Olaniyanu, approached Odiri with the project, showcasing blueprints, building plans, and an 18-month completion timeline for a ₦50 million two-bedroom unit on the fourth floor of No. 16.
Assured of necessary approvals, Odiri subscribed and made full payment via transfers to the defendant’s account (Account Name: DNJ Properties and Investment Ltd; Account Number: 5083278015; Bank: First City Monument Bank Limited), as evidenced by his bank statements.
However, by March 2025, a site visit revealed no construction activity, breaching the timeline. Odiri’s demands for updates went unanswered, and he later discovered that the defendant was attempting to sell the entire land without his knowledge, prompting allegations of fund diversion. Odiri intends to rely on pictorial evidence of the sale listings at trial.
Citing the principle of nemo dat quod non habet (no one can give what they do not have), Odiri argues there was a total failure of consideration, as the defendant lacked the right to collect funds for a non-existent development. He further claims the firm’s actions have caused him “psychological and emotional trauma.”
The case highlights growing concerns over accountability in Nigeria’s real estate sector, where subscribers often face delays or outright defaults on high-value investments. Proceedings will resume on November 10, 2025.
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