President Bola Tinubu is reportedly furious with Lagos State Governor Babajide Sanwo-Olu over the illegal allocation of 96 hectares of prime land in Banana Island to developers, some of whom are allegedly linked to the governor and his allies.
Sources close to the presidency said Tinubu became particularly irate after learning that land belonging to him in the upscale neighborhood was among those sold off without his consent. The revelations have sparked political tensions within the Lagos chapter of the All Progressives Congress (APC), prompting backdoor negotiations and emergency meetings among party leaders.
Insiders say the fallout from the controversial land deals played a major role in Tinubu's intervention in the recent impeachment of Lagos State House of Assembly Speaker, Mudashiru Obasa, a known ally of the President. Obasa was removed on January 13, 2025, over allegations of misconduct and insubordination. However, after nearly seven weeks of political wrangling, Tinubu reportedly ordered his reinstatement, citing the political risks of allowing the Speaker’s ouster to stand.
“Tinubu’s anger stems from the illegal allocation of 96 hectares of Banana Island land to cronies of the governor. He was also shocked that even his own parcel was sold,” a source familiar with the development disclosed. “That was the key reason behind his decision to reinstate Obasa. He wanted to send a strong message.”
Obasa, impeached while out of the state, was replaced by Mojisola Meranda. However, following presidential intervention, Obasa returned as Speaker while Meranda was reinstated as Deputy Speaker.
Presidential Snub and Reprimand
On Sunday, June 8, Tinubu reportedly met privately with Obasa and his wife, Senator Remi Tinubu, in Abuja. But when it was time to meet Sanwo-Olu, the President insisted that the governor could only be received in the company of Lagos Governance Advisory Council (GAC) leaders, led by its chairman, Alhaji Tajudeen Olusi.
“The difference in reception between Obasa and Sanwo-Olu was deliberate,” one source said. “It was a public message that the President is displeased.”
Though Sanwo-Olu publicly denied any rift, describing Tinubu as his “father and leader,” a video from a recent Lagos event showed the President pointedly ignoring him—a moment that went viral and fueled speculations of a deepening political rift.
Federal Crackdown on Land Scandal
Following these revelations, Tinubu has reportedly resolved to revoke all land allocations made illegally by Sanwo-Olu’s administration. Sources say this is part of a broader move to reassert federal authority over questionable property transactions and restore public confidence in governance.
Already, Tinubu has directed the Minister of Works to collaborate with the Surveyor General and state governors to stop unapproved developments, especially around road setbacks and shoreline projects.
“I appeal to all state governors—please stop granting planning approvals on federal corridors without consulting the federal government,” Tinubu said during the commissioning of the Lekki Deep Sea Port Access Road. “We are serious. All illegally approved islands and developments will be revoked.”
EFCC Probes Lagos Land Deals
The Economic and Financial Crimes Commission (EFCC) has also launched a full-scale investigation into what it described as one of the largest land racketeering and money laundering schemes in Lagos history.
In a letter dated May 16, 2025, signed by Ahmed Ghali, Acting Director of the EFCC’s Lagos Zonal Directorate 2, the commission requested documents from the Federal Ministry of Housing and Urban Development regarding allocations to 14 companies across Banana Island, Lekki, Osborne Foreshore, and the Lagos Lagoon.
The EFCC is seeking Certified True Copies of development permits, certificates of occupancy, equity agreements, and revenue-sharing structures. The agency is investigating potential violations under the EFCC Act (2004) and the Money Laundering (Prevention and Prohibition) Act (2022).
Firms Implicated in the Scandal
Among the 14 companies named in the EFCC probe are:
Walaris Nigeria Limited – 572.735 hectares (Lagos Lagoon)
Tafba Nigeria Limited – 60.8 hectares
Pranav Contracting Nigeria Limited – 254 hectares (Banana Island)
Meroni Nigeria Limited – 25.33 hectares (Lagos Lagoon)
Marlot Eagle Island – 100.060 hectares (Banana Island)
Marina Del Ray – 68 hectares (Water Lagoon)
Marathon Infrastructure West Africa Limited – 10.27 hectares (Osborne Foreshore Phase)
Spa Dredging Company Limited – 80.997 hectares (Orange Island)
Bull Construction Limited – 20 hectares (Onikoyi Waterfront)
Banana Island Higherend Castle Limited – 96 hectares (Banana Island)
Grace Waters – 115 hectares (Lekki)
Grace Point – 100 hectares (Lekki)
Gold Island – 261.403 hectares (Banana Island)
The EFCC suspects that many of these allocations were used as fronts for money laundering and political patronage.
As pressure mounts, all eyes are now on the presidency and anti-corruption agencies to see how far they are willing to go in addressing what appears to be a deeply rooted scandal within the Lagos power structure.
Leave a Reply