A Nigerian couple located in the United States is seeking N22 million in compensation from Landwey Investment Limited for a contract breach that resulted in a value degradation in the money paid for two properties on Ogombo Road in Lagos State.

The PUNCH reported that the couple, Olubukola Akande and Oluyomibo Olaniyan, claimed to have paid N26 million ($44,084 at the time) between February 18 and March 19, 2022, as part of the agreed-upon N56.7 million purchase price for a three-bedroom terrace duplex at OnyxUrban Prime Three Phase 2 and a corner property.

“Two years later, Landwey failed to fulfil the agreement, prompting us to request a refund and compensation,” the couple told reporters in Lagos recently.

According to the couple, a partial refund of N10m was received from Landwey on September 13, 2023, but it reneged on its promises to pay the balance.

The petition said, in part, “We call on your good office to prevent our life investment from being taken away from us.” We saw Landwey as a fake and a fraud.

“We have confidence in the Lagos State Government to come to our rescue by intervening such that Landwey can refund our balance even with interest on the money. We also hope that the state will shut down the company so that no one else falls victim.”

However, the couple acknowledged receiving the balance of N16.45 million on Wednesday, January 24, 2023.

The email said, “Hello: I hereby acknowledge your reimbursement of N16.45 million. Nonetheless, we must express our severe dissatisfaction with your unprofessional attitude, which resulted in the refund after more than 18 months of our financial transfer to your organization regarding the property in question.

“The waiting period for the refund had depreciated the money by more than half of its initial value. A law firm and a respected valuer firm are working together to establish our case.

“May I let you know, that I will formally bring a closure to this transaction, not only after an adequate litigation process by our legal team is established against you over the extended delay. They shall be demanding adequate devaluation compensations for the abuse of trust reposed in you that had caused me undue and untold stress. Thanks.”

The real estate company has stated that everything has been settled and so far, there is nothing to respond to because they have not been formally addressed.

The company stated that if a letter of complaint was sent by the couple, the company’s legal team would address it accordingly.