Business
FHA Close In on Serial Land Grabbers, Illegal Developers
By Abubakar Yusuf
ABUJA —THE Federal Housing Authority FHA has alerted the public over the decision to recover it’s lands from land grabbers and illegal occupants, stating that the ongoing demolition exercise was far from ethnic or any other coloration as been peddled.
A public notice issued by the Management via advertorial “Removal of Houses on Festac Phase 11: Our Position”. and released to newsmen on Monday by the the Head , Public Affairs, Kenneth Chigelu said the decision was in line with the earlier caveat, illegal sales and unapproved development without approval that sprang up on its estate in Festac Town 11 against the Master plan of the Authority.
He said structures and buildings were erected on centre of major roads, close to canals and oil pipelines which was fast turning the area to a modern slum within it’s estates.
The Management maintained that efforts to preclude the illegal proliferation of structures and activities of land grabbers could not yield the desired results , as thugs were been procured by the illegal developers and their collaborators who engaged in beaten staffs of the authority to near death, through harassment while on an official duties.
He recalled that in 2018, owing to security concerns on its staffs, it collaborated with the Lagos state government to serve notices of “Stop Work” on the illegal structures till 2019 to no avail.
The FHA said it embarked on demolition of the illegal structures scattered around it’s estates in 2021 in defiance of numerous “Stop Work” order placed on the affected residences.
The Authority further justified it’s decisions on the proliferation of sales and development of substandard building on swampy land, collapse soil texture and type, a behavior that required professional approval and supervision.
He said most of the house springing up were built on major roads outside the master plan and no approvals , supervision by professionals, hence cannot vouch for the integrity of the structures.
He further maintained that houses were built on roads setbacks, drainages and other infrastructures, as well as built below the levels of the roads, prone to collapse because of the soil settings.
However, appeals from relevant stakeholders, affected person’s, and illegal developers , management reconsidered it’s exercise in January, 2022, this was to salvage many buildings without compromising standards and agreed as follows ;
All developments along the road corridors must be demolished:
All developments around the canal and pipelines must go ;
Every structures not certified by the FHA must undergo integrity test and
All forms of developments must stop henceforth. As contravention notices and conditions for regularisation was issued the affected in line with the Verification, Regularisation and Recovery standard, VRR.
Inspite the stakeholders meeting, ongoing VRR, illegal developers and structures kept growing against the agreement and lay down procedures without the FHA allocation.
The negative development had distorted the Festac Town building plans along with the Master plan.
The confrontational disposition of the illegal occupants and activities of land grabbers led to the issuance of demolition notice in September, 2023 leading to the ongoing exercise, as many buildings were already undergoing
regularisation by the Authority.
The FHA wouldn’t wait for the incidences of building collapses before rolling out it’s safety measures, as it’s proactive actions predates all other situations, so as to save the impending dangers looming around the legacy Festac Town 11 in Lagos.
The Central Bank of Nigeria (CBN) has announced a significant review of the documentation requirements for transactions conducted through the Pan-African Payment & Settlement System (PAPSS) in Nigeria.
This initiative is part of CBN’s ongoing commitment to foster seamless intra-African trade, financial inclusion, and operational efficiency for Nigerians engaging in cross-border payments within Africa.
In a circular dated April 28, 2025, CBN introduced simplified documentation for low-value PAPSS transactions — allowing individuals and corporates to use basic KYC and AML documents for transactions up to USD 2,000 and USD 5,000 respectively. Higher-value transactions will still require full documentation as outlined in the CBN Foreign Exchange Manual.
The CBN also stated that Authorized Dealer Banks (ADBs) can now source foreign exchange for PAPSS settlements directly from the Nigerian Foreign Exchange Market, without relying on the CBN. Additionally, export proceeds repatriated via PAPSS must be certified by the processing banks.
The apex bank urged all banks, exporters, importers, and individuals to familiarize themselves with the new guidelines and leverage PAPSS for seamless cross-border transactions across Africa.
Launched by Afreximbank in partnership with the African Union and the African Continental Free Trade Area (AfCFTA) Secretariat in January 2022, PAPSS serves as a centralized payment and settlement platform that enables instant, secure, and efficient cross-border transactions throughout Africa.
By facilitating payments in local currencies, PAPSS minimizes reliance on third-party currencies, reduces transaction costs, and supports the rapid expansion of trade under the AfCFTA.
The Economic and Financial Crimes Commission (EFCC) has cautioned Nigerians against the excessive desire for money.
The agency issued the advice in a terse post on its X handle on Sunday.
“Love money too much, and Ponzi schemes will love you …..as their next target….be guided, the Eagle loves you all,” the post read.
This is coming amid ongoing investigation into the alleged fraud perpetrated by a digital investment platform, CryptoBank Exchange (CBEX).
CBEX had reportedly crashed on April 14, leading to the loss of billions of naira belonging to Nigerian investors.
Several videos online had shown some Nigerians raising the alarm over the loss of their funds to the scheme.
The EFCC had on Friday declared eight persons wanted over their alleged involvement in a fraudulent scheme linked to the online trading platform.
The move came on the heels of the Federal High Court in Abuja granting the EFCC’s request to arrest and detain persons found promoting the CBEX scheme.
Justice Emeka Nwite, issued the order following submissions by the counsel for the EFCC, Fadila Yusuf, seeking the court’s approval to detain the promoters pending the conclusion of investigations into the alleged offences and their possible prosecution.
The EFCC stated that during the investigation, it found that ST Technologies, while registered with the Corporate Affairs Commission, was not authorised by the Securities and Exchange Commission to conduct investment activities.
Furthermore, it said the defendants had vacated their last known addresses in Lagos and Ogun States.
The EFCC had argued that a warrant of arrest was necessary to place the defendants on a red watch list to facilitate their capture and ensure they face charges.
The commission said its investigation had also established a prima facie case of an investment scam and that granting the application was in the interest of justice.
During an interview on Channels Television’s breakfast programme, The Morning Brief, on April 16, the EFCC spokesperson, Dele Oyewale, advised Nigerians against investing in a business without considering the legal framework that regulates it.
Oyewale said, “We know that for every business concern, you declare your profit either quarterly, annually or bi-annually, but if somebody says, ‘Bring your money; I’m going to give you a return in 30 days,’ you know that is not realistic; it’s just not pragmatic.
“Or if somebody says, ‘If you bring your money, we’re going to give you a 100% return on investment,’ that is not possible”.
Nigerian carrier, Air Peace, has clarified why its Benin to Abuja flight P47171 was delayed in the air on Friday.
In a statement issued by the Head of Corporate Communications, Ejike Ndiulo, Air Peace Airline on Saturday stated that during the aircraft’s descent into Abuja, the flight encountered turbulence as a result of adverse weather conditions, including thunderstorms.
The statement further stressed that in line with global aviation safety standards, “our crew activated appropriate safety protocols and held in a holding pattern until weather conditions improved.”
Social media users complained on Saturday that the aircraft hung in the air longer than necessary before landing.
Elanza news understands that when an aircraft is held in a holding pattern, this means the plane was instructed to fly a specific course around a designated point while waiting for permission from the control tower to proceed with its planned route, approach, or landing.
This is often due to factors like traffic congestion at the given airport, weather delays, or other operational issues that could result in an incident or accident if the aircraft had landed against instructions.
In simpler terms, a holding pattern is a temporary waiting area for an aircraft in the air, allowing it to remain airborne while awaiting further instructions for landing.
The statement further stated, “We are pleased to confirm that the aircraft landed safely and the passengers disembarked normally. Air Peace is unwavering in its commitment to ensuring the highest standards of safety across all our operations.”