HOSTILITIES BETWEEN LAGOS BUILDING INVESTMENT COMPANY PLC AND BRICKTOP DEVELOPMENT & Advisory LIMITED – SETTING THE RECORDS STRAIGHT – 

APOLOGIES FOR ALL MISCONCEPTIONS AND MISPERCEPTIONS

Between the 16t h and 19t h days of May, 2023, the social media was awash with reports of invasion of the apartments situate at No. 1, Reverend Ogunbiyi Street, GRA, Ikeja, Lagos, (the premises) a joint venture investment between the Lagos State Building Investment Company PLC (LBIC) and Bricktop Development & Advisory Limited (Bricktop).

In the said publications were reports of demand of bribe by the Managing Director of LBIC, Mr. Oluwatobiloba Lawal, from the management of Bricktop before performing his duties under the Joint Venture Agreement between the two parties.

Subsequent developments have led to the realisation that, while there were discussions between one Mr. Lanre Obisesan and me, Olumide Olufade, for extra flats in the premises, there were imperfections in communications as the demand was officially meant for LBIC and not Mr. Tobiloba Lawal.

To that extent, the publications in the media in this regard were false. However, the above unfortunate incident, coupled with allegations and counter-allegations of breach of the Joint Venture Agreement has led to the invocation of the arbitral provisions  f the Joint Venture Agreement and filing of Suit No. ID/6968GCM/2023 between Bricktop Development & Advisory Limited v Lagos Building Investment Company Limited; Oluwatobiloba Lawal & Olanrewaju Obisesan and in resolution of which parties have now entered into terms of settlement.

It is in the light of this that wise counsel has prevailed necessitating the need to issue this publication clarifying issues and exonerating Mr. Oluwatobiloba Lawal of any corrupt demand or unwholesome request . Mr . Lanre Obisesan has clarified that the demand for an extra flat was for LBIC and not Mr. Tobi Lawal. The said demand, which is justified in the light of all the relevant facts surrounding this matter, has compelled us 2 | Page at Bricktop to give one extra flat in the premises at No. 1, Reverend Ogunbiyi Street, GRA, Ikeja, Lagos to LBIC a fact of which has been embodied in the Terms of Settlement filed in Suit No. ID/6968GCM/2023 at the Lagos State High Court.

Furthermore, considering the good relationship that birthed the investments on No. 1, Reverend Ogunbiyi Street, GRA, Ikeja, Lagos and the harrowing effects of the publications on Mr. Tobiloba Lawal, we, at Bricktop hereby issue this statement and apologise to Mr.Tobiloba Lawal to let go of all ill feelings.

Developments in these days of the social media can easily go beyond the control of parties in an otherwise minor dispute.

We hold Mr.Tobiloba Lawal and the management of LBIC in high esteem and hereby request for resumption of relationships ante bellum.

Thank you

. ………………………….

Mr. Olumide Olufade (For myself and Bricktop Development & Advisory Limited)