Court restrains Okpere, Raybok Development over N206m Lekki property

July 29, 2025 by Our Reporter

The Lagos High Court in Ikorodu has issued an injunction restraining a real estate developer and associated parties from taking any further action on a disputed property in Lekki Phase 1.

It follows a heated contract dispute involving over N200 million in off-plan investment.

The injunction is against Mr. Raymond Irabor Okpere and his company, Raybok Development and Construction Company Limited, regarding the property valued at N206 million.

The court’s decision came after Mr. A.A. Sanda, the buyer, sought urgent judicial protection to prevent what he described as an imminent threat to his interest in a four-bedroom (cornerpiece unit) terrace duplex with a maid’s quarters located in Blockville Estate, Off Freedom Way, Lekki.

According to documents presented to the court, the buyer entered into a contract in early 2024 with Raybok Development and Construction Company Limited and its CEO, Mr. Raymond Irabor Okpere, for the purchase of the luxury unit.

The project, developed under a joint venture with a third party, was part of a larger residential scheme on land registered in the Elegushi Royal Family area of Lekki Phase 1 Extension.

The buyer alleged that after making a down payment of over N61 million and paying up to N136 million in total by March 2025, the developers suddenly reportedly issued a termination notice.

Claiming full compliance with all contractual terms, the buyer stated that he had made significant financial sacrifices to meet his payment obligations, including taking loans, selling assets, and liquidating shares.

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He also expressed concern that the developers were planning to resell the property to third parties, a move he argued would cause him irreparable harm.

In its ruling, the court held that the buyer had demonstrated a valid legal interest in the property and that there was a credible risk of that interest being extinguished if urgent protective relief was not granted.

The interim injunction order now bars the developer, the company, and the landowner from selling, reallocating, or further developing the specific unit in question, pending the outcome of the hearing of the substantive case between the parties.

Legal experts say the case highlights growing risks in Nigeria’s off-plan property market, where buyers frequently face shifting terms, unclear project governance, and contract disputes—often with little recourse if proper legal protections are not in place.