February 13, (THEWILL) – Governor Babajide Sanwo-Olu of Lagos State has signed a bill aimed at regulating transactions of real estate companies within the state. This follows an uproar that greeted reports on how a couple, Bamidele Onalaja, the chairman of popular real estate company, RevolutionPlus and Tolu Onalaja, the group executive director and the face of the company, allegedly fleeced unsuspecting customers to support their luxurious lifestyle.
THEWILL gathered that the law will not only help to protect citizens from falling prey to people masquerading as real estate professionals, but also help players in the real estate sector to know what is expected of them. Apart from this, the law will enable the Lagos State Government to monitor the activities of such players in the sector, while strengthening the government’s intervention in housing through the Ministry of Housing. It is expected to keep real estate companies on their toes and to make them think twice before going out of line.
Last week, THEWILL had reported the many atrocities being perpetrated by RevolutionPlus, a firm which started out as a real estate company about seven years ago and metamorphosed into a holding company. The company set up a huge public relations machinery that helped to spin the story of a hardworking couple that was out to provide landed properties and homes at very affordable prices. This made many people seek the company’s services.
However, the tale assumed a different dimension when Nigerians resident at home and in the Diaspora were forced to voice out their displeasure after RevolutionPlus refused to fulfill their own part of the deals signed with their clients. The nonchalant attitude of the couple towards their clients in addition to Tolu’s rudeness, insults and brash attitude, proved a bit too much to swallow, which was what prompted the calling out. From not allocating land almost immediately, with some having to wait for almost seven years without still getting allocations, to allegedly selling over 1,000 plots of land in one of their touted estates that could only accommodate only 150 plots.
What this couple felt was more important to them was to allegedly use the millions collected from customers to fund an extremely lavish lifestyle that was virtually non-existent before then. From splurging on wonders on wheels to buying up properties in and outside Nigeria, Dallas, Texas, USA specifically, to setting up various other businesses. At various times, in celebration of either their birthdays or in commemoration of the company’s anniversary, they never hesitated to cough out tens of millions for these lavish celebrations.
The couple is also known to be huge donors to a popular Pentecostal church where they are staunch members, apparently, for prestige and perhaps to further woo unsuspecting members of the church who may have been allegedly hoodwinked into falling for their schemes. The Onalajas further boosted their profile by engaging popular entertainers as ambassadors of the brand, partnered and sponsored lots of events, parties and shows, including providing two-bedroom apartments to winners of the Big Brother Naija reality show, on two consecutive occasions. They just generally fronted a perceived successful brand that knows its onions when it comes to housing needs without the usual harassment of omo oniles.
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