Residents of Victory Park,Goshen Beach Estate, Others Runs to LERSA to Curb AMCON Excesses

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LERSA, the umbrella body of Residents Associations of over 77 gated Estates from 1004 Estate area down to Epe, have added their voice to the clamours of Residents and Property Owners in Lekki, Lagos

LERSA condemns the inhuman treatment of Homeowners who  are being thrown out of their homes in Victory Park Estate and Goshen Beach Estate and other Estates in Lekki by Asset Management Corporation of Nigeria (AMCON) with the use of heavily armed policemen and a group of fiercely looking unidentified armed men. Several families have been forced out of their homes with mothers and children left out in the heavy down pour of rain with little or no notice at mid-day when most Residents were out for work.

LERSA reiterated the fact that residents and property owners in the affected Estates bought into gated Estate Schemes like most estate development Schemes in the Lekki axis of Lagos State. These properties are widely publicized, and in the case of GOSHEN Beach Estate, the sale was a joint venture between the developer and Lagos State Development & Property Corporation thus giving comfort and confidence to would be subscribers/buyers that they are credible and the titles are free from any encumbrance. It is appalling and devastating to buy into a State Government sanctioned transaction only to have homes and life sustaining facilities like sewage treatment, borehole and recreation area forcibly sealed up almost twenty years after purchase.

In view of the current circumstances of some of our Estates with AMCON, it is the opinion of LERSA that the right and equitable thing for AMCON, which is a Government Agency to do, is to go after the assets of Developers who are the loan defaulters and not prey on soft targets that are innocent citizens, who are bona fide purchasers for value, without notice of any encumbrances known to law. The enabling law establishing AMCON stipulates that AMCON Receiver Managers shall take over receivership of properties of judgement debtors subject to existing encumbrances.

Residents and Property Owners of Victory Park Estate and Goshen Beach Estate who bought their lands and built their homes in the Estates, have suddenly become soft targets of AMCON for the recovery of bad debts.

It should be noted that our members who are the owners of their properties duly paid for by them have no relationship whatsoever with AMCON. Any bankers who accept common estate facilities such as waterworks, road network, general service infrastructure and so on as collateral for loan will need to question his/her qualifications as a banker.  It is shocking to see AMCON appointing a receiver for properties which has been bought and paid for by individual Nigeria citizens rather than go after the judgement debtor, it is appalling that AMCON came after innocent citizens as soft targets after the demise of the developer who is their banks customers.  Our properties were acquired and paid for fully without any caveat and or encumbrances.

The use of force with the help of unidentified armed men to invade, intimidate and force out; law abiding citizens from their homes by any Government Agency is strongly condemned and should not be allowed to thrive in our democracy.

We call on President Mohammadu Buhari, the Vice President Prof. Yemi Osinbajo, the Governor of Lagos State, His Excellency Babajide Sanwo-Olu, the Inspector General of Police, Mohammed Adamu, the Chairman of AMCON Mr Muiz Banire and the Managing Director of AMCON, Lawan Kuru to intervene in the matters of Victory Park Estate, Goshen Estate and any other Estates in Lekki and ensure that innocent Nigerians are not deprived of their homes and properties.

Olorogun James O. Emadoye.                  Gbemi Adelekan

President, LERSA                                      Secretary, LERSA


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Office of the Vice President

Inspector General of Police

Chief Justice of the Federation

Chief Justice of Lagos State

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Governor of Lagos State

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