A significant legal confrontation has emerged in Lagos’s real estate sector, involving Dr. Kennedy Okonkwo, founder of Dream Court and Capital Gardens Limited, and Adewale Oladapo, promoter of Oretol Nigeria Limited.
The dispute centers on a 2020 transaction where Okonkwo purchased five hectares of land on Hampton Island, Lagos. Despite completing payment in 2021, development stalled in 2022. Upon resumption, Oladapo allegedly demanded an additional 20% of the land’s value due to inflation, which Okonkwo accepted. However, by 2024, the allocated land was reduced to four hectares and relocated to an unsandfilled area, contrary to their agreement.
In February 2025, Oladapo reportedly revoked Okonkwo’s title, initiated legal action against him, and began selling the disputed land to other buyers. Okonkwo also cited issues with other properties, including a ₦500 million parcel on Banana Island and a ₦1.8 billion acquisition at Hampton Harbour, for which no title has been issued.
Oretol Nigeria Limited has denied any wrongdoing, asserting that all investors, including Capital Gardens, received clearly defined allocations based on individual survey plans.
The Lagos State High Court has issued a restraining order against Oladapo and Oretol Nigeria Limited, preventing them from selling or dealing with the disputed four-hectare parcel on Hampton Island pending further proceedings.
This case underscores the complexities of land transactions in Nigeria and highlights the importance of due diligence in real estate investments.
