Ikoyi Collapsed Skyscraper Owner, Osibona Arrested, Faces Prosecution

By Akinwale Kasali

Contrary to news making the rounds that the owner of the collapsed Skyscraper at Gerard Road, Ikoyi, Lagos, Olufemi Adegoke Osibona is trapped in the rubbles of the collapsed building, he is under arrest.

He was arrested by the Lagos State Government and Law Enforcement Officers and would be prosecuted for not yielding to the warnings by the Lagos State Building Control Agency, LASBCA.

The General Manager, Lagos State Building Control Agency, Gbolahan Oki, made the disclosure of the arrest of Osibona, stressing that the owner was given approval to construct only 15 floors.

“The materials he used for the reinforcement are so terrible. He got approval for 15 floors but built 21. He has been arrested,” he said.

The Lagos State Emergency Management Agency, LASEMA, the Fire Service and the National Emergency Management Agency, NEMA, have intensified rescue mission to save some still trapped in the rubbles.

The official added that so far, four people have been rescued alive and five bodies recovered. Rescue efforts are continuing.

Osibona is the Managing Director of Fourscore Homes and Investment Limited. He is the developer of the massive project dubbed: 360 Degrees Towers on 44 BCD Gerrard Road, Ikoyi. The project represents three fine pieces of high-rise and real estate.

He is also the elder brother of Lanre Osibona, a Special Assistant to the Vice President, Yemi Osinbajo.

The businessman was said to have distinguished himself in real estate with landmark buildings in London and South Africa.

He was the first African to build a 7-storey building on 113, Albion Drive, London Fields, E8, 4LZ

Osibona had his education in the United Kingdome where he read Business and Finance at the Croydon University.

Osibona’s company, Fourscore Homes is a member of the NHBRC (National Home Builders Registration Council) in South Africa and Zurich Building Guarantee in Europe, as part of the company’s presence overseas and specialises in the building of choice properties in different parts of the world.

Osibona’s company began its foray into real estate in the United Kingdom before branching out to South Africa and later Nigeria.

In 2009, when Brig-General Buba Marwa (rtd) was the Nigerian High Commissioner in South Africa, Fourscore Homes built six luxury units called Fourscore Mansions in Waterkloof, a very expensive neighbourhood in Pretoria.

The property called Fourscore Mansion is located at 113, Albion Drive London Fields, E8, 4LZ, East London.

Not only that, he was the first black developer of African origin to build other projects in the UK.

The company’s real estate business started in Hackney, London in 1997. He is  aged about 50 years.