Greater Lagos County Apartments Residents Write Sanwo-Olu Over Megamound Investment Dispute
Concerned subscribers and residents of Greater Lagos County Apartments, Obele-Oniwala in Surulere, have written an open letter to Lagos State Governor Babajide Sanwo-Olu over issues allegedly involving Megamound Investment Limited.
In the letter, which has begun circulating among property owners and on social media, the residents expressed dissatisfaction over what they described as prolonged delays, lack of transparency, and unresolved concerns surrounding the housing development project.
According to the subscribers, many individuals invested in the Greater Lagos County Apartments project with expectations of timely delivery and clear documentation. However, they claim that the project has faced setbacks that have left investors uncertain about the status of their properties and financial commitments.
The residents appealed directly to Governor Sanwo-Olu to intervene, citing the Lagos State Government’s broader commitment to real estate regulation, urban development, and consumer protection. They urged the state government to investigate the matter and ensure that developers comply with agreed terms and regulatory standards.
In the open letter, the concerned parties reportedly requested clarity on project timelines, infrastructure completion, and legal documentation tied to ownership. They also called for improved communication from Megamound Investment Limited regarding the future of the development.
Some residents stated that they have made substantial financial contributions toward the apartments and are worried about the long-term implications of the ongoing uncertainty. They emphasized that many subscribers are middle-income earners who invested life savings into the housing scheme.
As of the time of filing this report, Megamound Investment Limited had not publicly responded to the concerns raised in the letter. It is also unclear whether the Lagos State Government has formally acknowledged receipt of the petition.
The situation highlights growing concerns around property investments and off-plan housing developments in Lagos, where demand for residential housing continues to rise. Experts have repeatedly advised prospective buyers to conduct thorough due diligence and ensure that developers comply with regulatory requirements before committing funds.
Stakeholders say the response from both the state government and the developer will likely determine the next phase of the dispute.
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