In the Nigerian real estate investment space, tensions and allegations of fraud have recently come to the forefront, involving Nigerian-born former US Army veteran, Joseph Ogwuche, and Nigerian music star, Felix Duke. A whopping sum of N23 million is at the heart of this dispute over the Creative Industry Group, CIG, and a real estate project.
The rise of this fraud case has attracted the interest of many observers who have witnessed Joseph Ogwuche’s accusations of fraud and misrepresentation against Felix Duke. According to Ogwuche, he was allegedly misled by false claims made by Duke regarding a real estate project dubbed “Creative Industry Power Estate”. This allegedly prompted him to invest N37 million to acquire 10 plots of land supposedly located in Ibeju-Lekki, with a breathtaking view of the Atlantic Ocean.
However, the situation took a dramatic turn when subsequent checks revealed that the promised housing project did not exist on the ancestral lands of Ise village in Ibeju-Lekki. Alerted by information from the Baale of Ise community, Ogwuche promptly suspended further payments to Duke after discovering that the latter was not recognised by the local authorities.
The fraud allegations were supported by a fake issuance of a falsified boundary map of the plots of land in question, which further strengthened Joseph Ogwuche’s suspicions against Felix Duke. The dispute has taken a legal dimension, with both parties considering legal action.
In response to the allegations, Felix Duke has denied any attempt at fraud. According to him, Ogwuche, who is not a member of the IGC, had expressed his intention to acquire the plots of land through a third party. A confusion then allegedly arose, forcing Duke to offer Ogwuche an alternative in the form of plots in Sangotedo, each valued at N15 million.
The case has thus attracted the attention of the police authorities, with investigations being conducted to sort out the truth from the lies. The legal battle between Joseph Ogwuche and Felix Duke continues, highlighting the challenges of the real estate sector in Nigeria and underscoring the importance of due diligence when making any financial investment.
Ultimately, this case highlights the need for impeccable transparency and integrity in the real estate investment arena, in order to prevent any form of fraud and harm to investors.