Indian Businessman’s Alleged Land Grab Bid Sparks N21.5Bn Lekki Property Dispute

An audacious bid by Indian oil trader Ramesh Kasangra to acquire a prime Lekki property has ignited a major legal battle, with a Lagos High Court issuing restraining orders to protect the status quo.
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Mr. Kasangra, the controller of 11Plc, is alleged to be at the centre of a scheme to hijack a land deal already sealed with Bravematt Properties and Investment.
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‎Sources revealed that Kasangra, accompanied by thugs and MOPOL officers, had been intimidating parties to the deal.
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He is said to be pushing Kabiru Ayinde, a known figure at the EFCC, to sell the land to him by offering to double the price if Bravematt is refunded.
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‎The property in question is located at the Maiyegun Tourism Zone, Ibeju-Lekki, and has been the subject of a previous court case where Bravematt accused Four H Limited and IGI of fraud.
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This led to the arrest of Mr. Ayinde and his associate, Akinlolu, by the EFCC. They reportedly escaped prosecution after a plea to Bravematt, amid revelations that Ayinde, through Coopvest Nigeria Limited, had defrauded a Chief Uduboh of over N6 billion on the same land.
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‎It will be recalled that Justice R. O. Olukolu of the Lagos High Court, Igbosere, last December issued orders barring IGI and Four H from transferring the 13.067-hectare land.

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The court also restrained IGI from withdrawing N7.475 billion from its Keystone Bank account, representing the final balance of the N21.5 billion purchase price paid by Bravematt.
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‎Neither of the accused has reacted to the allegations as of the time of filing the report.