President Bola Ahmed Tinubu is reportedly upset with Lagos State Governor Babajide Sanwo-Olu over the controversial sale of 96 hectares of land in Banana Island, allegedly including portions belonging to Tinubu himself.
According to insider sources, the land was discreetly allocated to politically connected developers without proper authorization, triggering a political shakeup in Lagos, including the brief impeachment of Rt. Hon. Mudashiru Obasa, Speaker of the Lagos State House of Assembly. Tinubu’s intervention led to Obasa’s reinstatement just 49 days later.
Further fueling speculation of strained relations, Tinubu was seen snubbing Sanwo-Olu at a Lagos event, raising questions about the governor’s future in the APC power structure.
The Economic and Financial Crimes Commission (EFCC) has launched an investigation into the suspected money laundering and land racketeering scandal, requesting documentation from the Federal Ministry of Housing and Urban Development. Several developers linked to the controversial land allocations include:
- Pranav Contracting Nigeria Ltd (254 hectares in Banana Island)
- Banana Island Higherend Castle Ltd (96 hectares)
- Gold Island (261 hectares in Banana Island)
Tinubu has vowed to revoke all questionable land allocations, asserting federal authority over land administration in Lagos. His recent stance against unauthorized shoreline expansions suggests a major overhaul in land governance within the state.
