Nigerian real estate firm RevolutionPlus Property Development Company Limited has denied allegations of fraud and project abandonment surrounding its delayed Flourish Apartments & Terraces development on Orchid Road in Lekki, Lagos, accusing a small group of subscribers of orchestrating a coordinated smear campaign against the company.
In a statement signed by the company’s Chief Executive Officer, Bamidele Onalaja, the developer said recent social media publications and reports about the project were “false narratives” aimed at criminalizing what it described as a legitimate real estate development affected by Nigeria’s economic crisis.
The company acknowledged that some subscribers had raised concerns over delayed delivery timelines and additional financial contributions requested from subscribers but insisted the setbacks were largely caused by inflation, foreign exchange volatility, and rising construction costs that hit the real estate sector after 2020.
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According to Onalaja, more than 70 per cent of subscribers to the Flourish Apartments & Terraces project have continued to cooperate with the company and accepted revised payment arrangements introduced to offset escalating construction costs.
The Flourish Apartments & Terraces project, located along Orchid Road near the Chevron axis of Lekki, was marketed as a premium residential estate comprising luxury flats and terrace duplexes.
Onalaja alleged that between eight and 13 subscribers had consistently refused to comply with the revised financial structure while simultaneously sponsoring negative media campaigns against the company.
He also claimed that some of the aggrieved subscribers had earlier signed undertakings during engagements supervised by the Economic and Financial Crimes Commission agreeing to make additional payments required for the project’s completion.
“The question therefore remains: How can a project of this magnitude be completed when certain parties intentionally withhold funds required for construction while simultaneously attempting to frustrate the process through media attacks and public harassment?” the CEO said.
The company further denied claims circulating online that Onalaja had fled Nigeria or relocated permanently to the United States, describing the reports as malicious and misleading.
“We also categorically refute the false claim that the Chairman or Chief Executive Officer of RevolutionPlus, Bamidele Onalaja, fled Nigeria or absconded to the United States,” the statement said, adding that the CEO remained actively involved in supervising operations in Lagos.
The latest statement comes months after several subscribers accused the company of failing to deliver properties years after payment despite repeated assurances and additional “goodwill” contributions requested from investors.
Some subscribers had alleged that they paid tens of millions of naira for apartments in the Lekki project as far back as 2020 and 2021 without receiving possession of the properties. Others claimed project deadlines were repeatedly shifted while additional payment requests continued.
Petitions over the project were reportedly submitted to the Lagos State Real Estate Regulatory Authority and the EFCC over alleged breach of contract and delayed delivery.
The company, however, maintained that construction work is ongoing and said law enforcement agencies had visited the site on multiple occasions and acknowledged the scale of development already carried out.
Onalaja added that the firm’s legal team was reviewing allegedly defamatory publications and reserved the right to pursue legal action against individuals spreading false information about the project.
