Court Grants Injunction Against Developer Over N295m Ikoyi Property Sale

Wale Igbintade

The Lagos State High Court has granted interim injunctions restraining Godmade Homes Limited and its owner, Ayoolanrewaju Kuyebi, from dealing with a disputed property in Osborne Foreshore II, Ikoyi, following a legal challenge by property buyer Two Aprils Limited.

Justice Rosul Oriyomi Olukolu granted the injunctions in an ex parte motion filed by AbdulHakeem Adio, counsel to Two Aprils Limited, in Suit No. LD/853CM/2026.

The court’s decision bars the developer and its affiliates from transferring, selling, or otherwise disturbing the property pending the hearing of the substantive case, now slated for April 2, 2026.

According to court documents, Two Aprils Limited had purchased one unit of a 5-bedroom terrace duplex with a 1-bedroom boys’ quarters at Esplanade 6, Iroko Close, Osborne Foreshore II, for N295.5 million, paying N247.26 million upfront.

The contract, dated November 4, 2022, stipulated that delivery of the property must be completed by July 31, 2024.

The applicants alleged that Godmade Homes failed to meet the delivery deadline and repeatedly breached other contractual terms.

Despite issuing a Letter of Allocation to the buyers in May 2024, the developer allegedly continued to shift delivery dates and, through its solicitors, indicated in February 2026 a unilateral intent to resell the property to another buyer and increase the purchase price to N450 million, a proposal Two Aprils Limited vehemently rejected.

In granting the interim relief, Justice Olukolu cited the urgency of the matter and the risk of the property being transferred to third parties, emphasizing the court’s authority to protect the rights of the applicant pending full determination of the suit.

The court has adjourned the further hearing to April 2, 2026, while the injunction remains in effect.