The house of scam on ibadan street ilupeju

A house developer has duped over 200 people of about 50 million naira in a matter that has generated media interest and the intervention of the EFCC. The 2-storey building in Ilupeju is a brown building on Ibadan street off Tinubu road, off Ilupeju Street, is a newly completed building with at least 15 flats. The developer known as Alhaji Hassan Lukman or Qulaj Homes or L A Chicago or Standard homes collected house rents from at least 200 people starting from 150,000 naira to as much as 1.4 million naira. Monday, 31st of August was meant to be the opening day where tenants would lay claim to their flats but unfortunately, more than 200 people converged to witness one of the biggest modern real-estate scams in Lagos. The developer, along with his team of Ahmed, Otunba e.t.c. absconded and coined the Ilupeju Policemen with the help of the RRS squad to deter touts from tearing the building down. They also paid Ilupeju Area Boys to work with the police and maintain peace and orderliness as the workers put finishing touches to the house.

Work is ongoing but all the flats have already been occupied by people who had links to the military, touts, police, government e.t.c. LagosMet.Com noticed even the crew from Sterling Bank did not stand a chance in the scam romance.

Now the highlights.
The developer “Hassan alias Chicago met the head of the family in a bid to demolish the old family bungalow and build a lucrative 2-storey on it and maybe collect rentals for 6 years before handing the property over to the family. LagosMet.Com was told that the family agreed to this, verbally, without signing any papers and the original documents are still with the head of the family. Most houses on Ibadan street belong to families (not one person). The developers practically collected money from people to fund the building project and had been doing this since October 2008. In a nut-shell, most of the money went into building the new house while some went into a similar project at a site not far from the present calamity. NTA and SuperScreen were at the site yesterday and it was on the news on TV last night.

This should serve as a warning as fraudulent people are still driving people to the site and collecting money from them, issuing fake receipts. The present list has been forwarded to the EFCC and Alausa, the Ilupeju Police could not offer much in terms of information but it is widely believed that he carried out the fraudulent acts with the connivance of some top Ilupeju police officers.

www.LagosMet.Com

Whether the house would be sold to pay back the funds of hundreds of stranded tenants remains to be seen but it looks like the only way out of this mess. As usual, this is another 55 million naira case that will last could last years before justice, if at all, is done. It has always been said several times. Patronise only Registered Estate Surveyors and Valuers for your housing needs, even a Lawyer is not a professional Property Manager recognised by the Institute of Estate Surveyors and Valuers. Don’t be a victim.

More from the net:

http://www.sunnewsonline.com/webpages/news/national/2009/sept/02/national-02-09-2009-14.htm

http://thepmnews.com/2009/09/17/fraudsters-take-over-real-estate-business

http://234next.com/csp/cms/sites/Next/News/Metro/Crime/5451529-147/story.csp

http://234next.com/csp/cms/sites/Next/News/Metro/Crime/1885367-147/Property_scammer_arrested___.csp

http://234next.com/csp/cms/sites/Next/News/Metro/Crime/5435760-147/House_scam:_Another_set_of_victims.csp

http://234next.com/csp/cms/sites/Next/News/Metro/Crime/5425074-147/Long_wait_besets_Egbeda_property_scam.csp

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SHOCKING REVELATION: Sanusi may not be acting in our interest after all. Chances are that he and Waziri of the EFCC are only protecting northern interest and are being used as tools to carry out the northern agenda since Soludo removed the Arabic language from the Naira. Please read on:

Vanguard on 23 March 2009, did a world exclusive on alleged plot by a group of individuals to take over five banks in the country.

Two weeks ago, the new Central Bank of Nigeria Governor, Mallam Sanusi Lamido Sanusi sacked the chief executives and boards of five banks, therefore confirming our scoop of March 23.

The story:ANTI-CONSOLIDATION forces have regrouped with the hope of dismantling the structures and forcing a takeover of the top five banks in the country, Vanguard can now reveal. The grand plan by the group is to cause panic and uncertainty in the industry and make the target banks look unsafe for depositors

Meantime, indications emerged yesterday that the Federal Government may announce the names of a new Governor of the Central Bank (CBN) and the Auditor-General of the Federation (AGF) in April just a few weeks before the tenure of the incumbents run out.

However, the Arewa Consultative Forum (ACF) has expressed concern over what it described as the rapidly deteriorating liquidity situation in the banking industry and tasked the Central Bank (CBN) to make public information on causes of the development as well as the scale of the crisis.

Vanguard investigations revealed that the aim of the anti-consolidation forces is to cause loss of public confidence in the banking industry and compel the Federal Government to move in by injecting funds. Further, they ultimately plan to instigate government to take equity holdings in the targeted banks.

Vanguard gathered that the group at work is made up of former bank owners who lost out during the consolidation exercise, a powerful clique in the present government, and some aggrieved persons in three of the six geopolitical zones in the country who felt left out in the consolidation exercise.

Presidency sources disclosed that those who felt left out in the consolidation exercise are up in arms to recoup what they felt they lost during Obasanjo years.

Part of the plans hatched by the group is to ensure that the incumbent Governor of the Central Bank, Professor Chukwuma Soludo, does not get a second term. The plan is also to ensure that whatever gains consolidation recorded are discredited.

This, it was learnt, was meant to force the President to act quickly in the matter of appointment of a successor to Soludo as they anticipate that the president’s slow move may scuttle their dreams and cause the renewal of Soludo’s re-appointment for a second term.

The group’s second game plan is to make Nigerian banks look unsafe in the eye of the banking public. Part of the game is to spread rumours that some banks are unsound and are on the verge of collapse. They send out text messages to individuals and account holders passing wrong information on their target banks. At the moment, the group’s target is one of the high-flying new generation banks where they have sent out several messages.

New CBN Gov, Auditor-General to emerge April

The tenure of the CBN Governor, Professor Chukwuma Soludo and Auditor-General of the Federation, Mr. O. R. Ejenavi from Delta State will lapse in May 2009.

Naming nominees for the top jobs, according to a presidency source, will afford the Senate ample opportunity to work on them before they assume office.

While Soludo will complete his first term in office as CBN governor by May 29, Ejenavi will be due for retirement on age grounds on May 18.

However, among those being considered for the position of CBN governor include the Minister of National Planning, Dr Shamsuddeen Usman from Kano, who was a former Finance minister and deputy governor at the apex bank; another former CBN deputy governor, Obadiah Mailafia from Nassarawa, Mallam Isa Hayatudeen from Borno, a former managing director of FSB International Bank, incumbent Managing Director of First Bank, Mallam Sanusi Lamido Sanusi, also from Kano, and Mallam Falalu Bello from Kaduna, Managing Director, Unity Bank.

But the most touted name so far is that of Mallam Isa Yuguda, the Bauchi State governor who won election on the platform of the All Nigeria peoples Party, ANPP, but defected to the ruling PDP last week. Yuguda is also an in-law of President Umaru Yar’Adua. Yuguda was also a former Managing Director of Inland Bank, a legacy bank in post-consolidation FinBank.

Past CBN governors include late Dr. Clement Isong (Akwa-Ibom), Alhaji Adamu Ciroma (Yobe); Mr. Ola Vincent (Lagos), late Alhaji Abdulkadir Ahmed (Bauchi); Mr. Paul Ogwuma (Abia), Dr. Joseph Sanusi (Ondo) and the current Professor Charles Soludo (Anambra).

It was also gathered that strict obedience to civil service rules will be observed in the appointment of a new Auditor General for the Federation going by the constitutional provision.

Section 86 Subsection 1 of the 1999 constitution states: “the Auditor-General for the Federation shall be appointed by the President on the recommendation of the Federal Civil Service Commission, subject to the confirmation of the Senate.”

That of the CBN may be determined by other factors, mostly political considerations which are at the pleasure of the President without recourse to the commission.

The most senior director in the office of the Auditor-General currently is Mr. Ogunsina G.F from Ekiti State who may be appointed unless there is political maneuvering. Having been a director since 2004, it may not be smooth sailing for Ogunsina because, there is another senior civil servant Mr. Osonuga T. A. from Ogun State who was promoted a director in 2007 and is being propelled by other forces to occupy the office.

It’s unfortunate top 5 banks are targeted, says official

A CBN official who spoke on condition of anonymity said that it is unfortunate that top five banks are the target. The banks, he said, are sound. The CBN had mistaken in the past the ongoing move as de-marketing by competitors in the banking industry, saying it is unhealthy competition.

The group is using this means to make depositors panic and undertake massive withdrawal of funds from the targeted banks in an attempt to cause liquidity problem in the bank. In that state they hope to cause a take over by the government which may buy a stake in the bank and later sell to members of the privileged group who may be appointed in the interim into the board of the banks.

Arewa worries over liquidity problem

However, the Arewa Consultative Forum (ACF) expressed concern over what it described as the rapidly deteriorating liquidity situation in the banking industry and tasked the Central Bank (CBN) to inform the people the cause of the development as well as the scale of the crisis.

ACF said that the commercial banks must have obviously lent too much money to people who either invested them in buying stocks or in the importation of petroleum products in the country, but are unable to repay such loans.

A statement signed by the National Publicity Secretary of the Forum, Mr. Anthony Sani however blamed the CBN for enquiring “into the volume of the so-called toxic assets of the commercial banks while refusing to tell Nigerians how or why in the first place, the banks found themselves in trouble.

The statement reads “The Working Committee of the National Executive Council of the Arewa Consultative Forum (ACF) held its meeting at its national headquarters in Kaduna on Tuesday, the 17th of March 2009. In attendance were all National officers of the ACF drawn from the 19 northern states and the Federal Capital Territory (FCT). General IBM Haruna, the Chairman presided.

“Among other things, the meeting reviewed and discussed a number of issues and other troubling developments in the country. At the end, it resolved to issue the following statement.

“The ACF deliberated on the rapidly deteriorating liquidity situation in the banking industry and observed that Nigerians are feeling increasingly frustrated by the failure of the Central Bank of Nigeria (CBN) to disclose the true the true nature and the scale of the crisis.

“Even members of the National Assembly, despite their best efforts, have been unable to get to the truth of the matter.
According to Arewa consultative forum “All that seem obvious is that our commercial banks had lent out too much money to too many people who had invested them in stocks or petroleum importation but who are now unable to pay back. Beyond that, the public has no clear idea as how or why the loans were given and on what terms.”

http://www.vanguardngr.com/2009/08/26/group-plots-takeover-of-five-top-banks/comment-page-13/

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Sanusi versus bank mismanagement

Disgraceful List of Oceanic Bank, Afribank, Finbank, Intercontinental Bank and Union Bank Debtors including Femi Otedola, Ibori, Arisekola, Ramanniya and all the “richest” men in Nigeria. This list released by the CBN also contains the amount owed. Please click on each picture to see a wider view.

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Daylight Bank Robberies are now the order of the day as Niger Delta boys step up from kidnapping and demanding ransome to actually tapping from the source of the ransoms. Banks within and outside Lagos now open in fear as these ruthless guys come in armed and trigger happy. You may find the following pictures disgusting as they contain very violent scenes and blood. View at your discretion.

The bullet holes, violence, the blood splatter, the destruction and the psychological trauma of all who witnessed this. God help us. Name of bank and branch witheld.

Here The Punch has a January Bank Robbery report

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I wrote about this not too long ago, and just today, I got this mail from GTB. A warning to all customers. For full-blooded Lagosians, it’s just one of those “WANTED” bills, but for JJC’s, better read on…

Dear Valued Customer,

SCAM ALERT!!!

Please always remember that your Internet Banking user ID and password , ATM card number and PIN are confidential and should never be disclosed to anyone.

If in doubt of any mail or text message received, please contact your account officer immediately. You may also contact us through our contact centre on 01-4480000; 08029002900;08039003900

Thank you for choosing Guaranty Trust Bank plc.

Customers are advised to guard their internet banking passwords and ATM Card and MasterCard PINS with utmost confidentiality as the Bank will not be liable for any loss that may arise as a result of a third party having access to such passwords and PINS as to defraud the customer.

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Interswitch website warning!

Don’t fall for the Interswitch ATM/Debit Card Scam!

This scam (perpetrated by our Yahoo Yahoo! boys who are fast running out of options – www.419eater.com) has been around for a while now especially since the inception of webpay which made e-commerce possible in Nigeria. The ATM/Debit Card is the only equivalent of the Western Credit Card only that it is prepaid. Naturally, you’d expect the ATM card to be very secure since you need a PIN and a physical provider (Interswitch, E-tranzact) card with preference for Interswitch (being more popular), but websites such as Buyright.biz, rechargenigeria.com, reloadng.com and deoluakinyemi all allow you to pay for goods and services from the comfort of your internet-connected device, just by punching your card number and PIN. In some cases, you get an SMS confirming the transaction, and in some other cases (especially if you are yet to subscribe to SMS alerts) you don’t get any alert. On interswitch’s official website (http://interswitchng.com), you could even transfer from one interswitch card account to another (not sure if this is still possible). Our fraudsters promptly rose to the occasion to explore the holes in the loops, GTB was one of the worst hit, and they reacted instantly by blocking the use of their ATM cards on websites.

It’s quite unfortunate that till today, many still fall for this trap. Look at the mail below: a scammer sends a mail asking you to click on a link to interswitch’s website. Do not click on links (especially masked links) but instead copy and paste into the browser, if it’s not Interswitch’s official website, then it’s pure scam, delete the mail. (http://allafrica.com/stories/200704190048.html)

Interswitch Logo

Also, do not be deceived by the sender’s address, anyone can mask the sender address. If you wish to reply at all, always click on the reply button. Most scam mails usually ask you to reply to a different email address other than the one that was used to send the mail (e.g. sender: expiry@interswitchng.com please reply to: scammer@gmail.com). When they do provide websites, their fake websites mirror the original one (as seen in fake MTN and Zenith Bank job scam sites), sometimes, some cheap-ass scammers use free sites and folders within folders of sub-domains such as http://money.myfreewebsites.com/bank/scammers/fraud/?@www.interswitchng.com/register – you should easily “nab” these ones (I repeat, do not click on links in emails directly, always do copy and paste into google search with the word scam before it and see for yourself, trust your instinct).

LagosMet: My take on this is this, always suspect anything that comes to you by mail or SMS (better to be a pessimist on the internet). Take a line of the content or title of the message, google it with the word scam and see if you get similar results. Remember, if it’s too good to be true then it’s scam.

The mail:

Dear Interswitch Card Holder,

We are carrying out a fraud prevention on our system,
and you’ve been required to register all your ATM card(s) Online Immediately
for security reasons, and to prevent your ATM card(s)
from fraudulent activities.

Be notified, that all ATM card(s) must be registered, such as your
(DEBIT CARDS, X-CHANGE CARDS, and CASH CARDS)

Please Register your ATM cards now by CLICKING HERE and then do as required.

(Failure to verify your ATM Card(s) details correctly will lead to account suspension)

This Update is compulsory
If you do not register your ATM card(s) immediately,
you will no longer be able to use your card(s) on our ATM machines
or for ATM transactions and your card(s) will be cancelled or terminated.

Thank you.

=======================================================

Breakdown:

1. Prevent your card from fraudulent activities (and he’s planning to defraud you already)

2. All cards must be registered (are cards not already registered? A wise man will give the bank a call, not even interswitch)

3. Failure to verify will lead to account suspension (all ATM cards have their expiry dates, you can’t even do any online transaction without entering your debit card’s expiry date, why the rush?)

4. Glorious threats (this is the first scam mail without the magic word called “guarantee”, are you scared to lose your card? As long as your money is safe). Never ever reveal your PIN to anyone.

Finally, Interswitch should please release a list of approved websites so that users can verify which websites are registered and which ones are phishing/scam websites. If there was a list like http://interswitchng.com/list_of_approved_websites/ then the world would be a much better place for scammers and potential, unsuspecting victims like you and I. This modus operandi applies to other sites such as ebay, paypal and many bank websites worldwide. You don’t want to lose your hard earned money in this period of recession, its credit crunch period for scammers as well. Be watchful, be careful, be prepared, be informed.

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Would you rather have the Cedes

LAGOS, Corporate Corruption: Wonder why the naira has struggled to make an impact against the dollar? In the news today, the EFCC has moved to arrest all the Diamond Bank Managers involved in the International Passport – visa dollar fraud. Since banks are supplied hard dollars from CBN to be sold to people with Valid Visas and tickets, some Bank Managers used this opportunity to their advantage. These managers make photocopies of these documents to back up such transactions (they were reportedly apprehended with a couple of fake and original passports in their possession) and then sell the dollars at killer rate to the Black Marketers. The dollar which sold at 202 naira sometime in March had risen against the naira due to high demand resulting from artificial scarcity of the dollar in banks.

EFCC arrests Diamond Bank Managers over dollar fraud

It is worth noting that this could mark the end of the careers of these managers, at least in the Banking Industry. Hopefully, this development should strike fear into the minds of defaulters and we can start to dream of 120 naira to a dollar again. Maybe I can comfortably return to school, and prices of inflated items can fall (na dream?)

What determines the naira-dollar exchange rate?

Why’s the naira so weak against the dollar?

Ps: The second part of the Lagos Traffic Laws will be out unfailingly today.

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Are you looking for job? Are you sure you can weather the storm? Can you sell ice in Iceland? Are you sure you really need a job? Are you that hungry? Have you contemplated returning to the village or committing suicide? Do you still pay your tithe/offering? Are you tired of living in this country?

Brothers and sisters, the three eyed monster is staring at you right in the face at the moment. This Credit Crunch period is staring at everyone in the face and people wake up every morning not sure of the kind of drama set to unfold in the office today. Good morning is now just “morning” and goodbye is now let’s see what happens tomorrow. Are people now living in fear? Or is the world finally coming to an end? Many are fast seeing Obama and his mission of Hope as the much expected Anti-Christ and the world has never found itself in such a dire need for a saviour than now. Everyone wants to put this period behind them, but how?

There are two sides of the story, people suffering and people living large. You should know that someone stands to gain something from this or better still, some people put us in this tight situation… and like the one who invented HIV, may no longer be cool with this gameplan. Is it backfiring like a two edged sword and a boomerang?

Throughout 2008, Nigeria watched as the whole world screamed out in pain of the crunch but towards the end of the year, the country began feeling the impact. Last year was the mortgage year from cars to electronics, real estate and education but nowadays more and more people are becoming reluctant to taking loans. People are losing jobs and “current” salary accounts meant to stand as sureties either in form of post-dated cheques or direct debit are no longer sure. A top bank recently ordered all banks to “secretly” submit the names of 5 individuals (per branch) to be laid off in order to cut the wage bill. Besides security, luxury projects such as beautification, IP Telephony, Contact Centres, Equipment upgrade e.t.c. are being put on hold by most companies. It is only a matter of time before Nigerian companies will begin to file for bankruptcy (Like Telecom OEM, Nortel Canada did). And if you are thinking of taking a loan right now, you better watch out. Those who took loans at 17% (for 36 months) have been notified to start paying 24% as from the month of March e.g. First Bank. Stanbic IBTC are claiming 22% but the fact remains that interest rates have skyrocketed and banks are trying hard to cut losses. Watch out for quarterly reports.

I have to run now, I would say if we get out of this situation soon then many “wise” ones are likely to be rich for a very long time. Now is the time to start investing in things that will likely appreciate after this era. Credit crunch sounds like something to munch but it isn’t that crunchy. The only job vacancy right now is you thinking with your head and educating yourself in the direction of the crunch, lest you find yourself crumbling at the monster’s feet at turbo speed, albeit unplanned.

Peace.

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