Sixteen property subscribers, including diaspora investors, have petitioned the Inspector-General of Police over an alleged ₦876 million real estate fraud involving RevolutionPlus Construction & Infrastructure Company Limited and its top executives.
In the petition filed through Blissful Attorneys, the subscribers accused the company’s Managing Director/CEO, Bamidele Onalaja, alongside directors Tolulope Onalaja and Adejimi Olugbenga, of conspiracy, obtaining money by false pretences, breach of trust, and alleged diversion of funds meant for housing projects in Lekki, Lagos.
The complainants said they paid for units in the Flourish Apartments & Terraces estate on Orchid Road between 2019 and 2021, with expectations that the homes would be delivered within a few years. However, they allege that despite full and partial payments totaling hundreds of millions of naira, the project has remained largely uncompleted for years.
According to them, repeated assurances from the company were followed by further financial demands labelled as “goodwill payments,” but the promised delivery deadlines were not met. Some subscribers also claimed that already allocated units were later being offered to new buyers.
The petitioners further alleged that earlier complaints to the EFCC led to a settlement arrangement in 2025, which included additional payments intended to push construction forward. They, however, claim the agreement also failed to produce meaningful progress, with the project still abandoned and funds unaccounted for.
They are now asking the police to investigate the matter, arrest the company executives involved, and recover funds allegedly paid. They also want international law enforcement agencies to be involved, including Interpol and U.S. authorities, over claims that one of the key figures may have travelled abroad.
Reacting to the allegations, the company’s CEO denied wrongdoing, insisting that construction work is ongoing and blaming delays on economic challenges and contractual disagreements with subscribers. He also maintained that the project remains active and will eventually be completed.
The dispute has now escalated into a full-scale legal and criminal complaint, with investors warning that the case reflects broader concerns about trust, accountability, and investor confidence in Nigeria’s real estate sector.