Lagos High Court issues interim orders to preserve disputed Lekki Peninsula property and alleged final payment
The High Court of Lagos State, Commercial Division, Igbosere, has restrained Industrial and General Insurance Plc (IGI) and Four H Nigeria Limited from selling, transferring, or dealing in a prime parcel of land in the Lekki Peninsula following a ₦21.5 billion land sale dispute.
Justice (Dr.) R. O. Olukolu issued the interim orders on Wednesday, December 10, 2025, after considering an ex-parte application filed by Bravematt Property and Investment Limited. The claimant alleged that despite completing payment for the land, the defendants were attempting to renege on the agreement and dispose of the property to third parties.
₦21.5bn Lekki Land Deal Under Scrutiny
According to court filings, Bravematt entered into a purchase agreement with IGI and Four H Nigeria Limited for Plots 5, 6, 7, and 8 located in the Malyegun Tourism Zone, Lekki Peninsula Scheme II, Ibeju-Lekki. The combined landmass spans approximately 13.067 hectares and is covered by a Certificate of Occupancy issued in 1988.
Bravematt told the court that the defendants, through their appointed agent, Bradfield Limited, sought buyers for the property and accepted Bravematt’s offer. The claimant stated that it subsequently made several payments amounting to ₦21.5 billion, including a final tranche of ₦7.475 billion.
However, the dispute arose when the defendants allegedly denied receiving the final payment, triggering fears that they intended to withdraw from the transaction and resell the land.
Court Steps In to Preserve Property and Funds
In its application, Bravematt argued that urgent court intervention was necessary to prevent the “extinguishing of the res” — the subject matter of the dispute — and to allow for proper compliance with mandatory pre-action protocols before filing a substantive suit.
Justice Olukolu reviewed 15 grounds supporting the application and examined 17 documentary exhibits presented by the claimant. The court found that there was a real risk of irreparable harm if the defendants were allowed to proceed with any transaction affecting the land or related funds.
Relying on Sections 8 and 13 of the High Court Law of Lagos State 2018, Order 42 Rule 1(1) of the High Court of Lagos State (Civil Procedure) Rules 2019, and Practice Direction No. 2 of 2019, the judge also drew guidance from the Court of Appeal’s 2023 decision in Brovan Oil & Gas Ltd v. Petro Marine Ltd.
Key Orders Issued by the Court
The court granted two major restraining orders:
- The defendants are barred from selling, assigning, transferring, or otherwise dealing with the disputed Lekki land pending Bravematt’s completion of pre-action protocol requirements.
- IGI is restrained from withdrawing or dissipating funds in Keystone Bank Account No. 1012692681 below ₦7.475 billion, which Bravematt claims represents the final payment for the land.
Justice Olukolu emphasized that preserving both the property and the disputed funds was essential to maintain the status quo and prevent injustice.
What Happens Next?
The interim orders will remain in force for 14 days, within which Bravematt is expected to complete all pre-action steps and file a substantive lawsuit. The court also directed that the enrolment order be served promptly on the defendants and the affected bank.