Lagos Court has blocked IGI and Four H Nigeria from selling disputed Lekki Land after buyer claimed N21.5bn payment.
NewsOnline Nigeria reports that the High Court of Lagos State, sitting in Igbosere, has granted pre-emptive restraining orders against Industrial and General Insurance Plc (IGI) and The Four H Nigeria Limited over a disputed 13.067-hectare parcel of land in the Lekki Peninsula.
Justice (Dr.) R. O. Olukolu issued the orders on Wednesday, December 10, 2025, after Bravematt Property and Investment Limited alleged that it had already paid N21.5 billion for the land but feared the sellers were attempting to invalidate the deal and dispose of the property to new buyers.
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According to court filings, Bravematt entered into an agreement with the defendants to purchase Plots 5, 6, 7 and 8 within the Malyegun Tourism Zone, Lekki Peninsula Scheme II, Ibeju-Lekki. The land is covered by a 1988 Certificate of Occupancy.
The claimant said IGI and Four H Nigeria appointed Bradfield Limited to source buyers for the land, after which Bravematt submitted a purchase offer that was allegedly accepted. Following this, the company said it made several payments amounting to N21.5 billion, including a final tranche of N7.475 billion.
However, the defendants allegedly denied receiving the final payment, prompting concerns that they planned to back out of the transaction and resell the land to other interested parties.
Bravematt told the court that without urgent intervention, the defendants’ actions could destroy the subject matter of the dispute (“extinguish the res”) and frustrate compliance with mandatory pre-action protocol requirements before filing a substantive suit.
After reviewing the motion, supporting affidavit, and 17 documentary exhibits, Justice Olukolu held that the claimant had shown a real risk of irreparable harm if the property was transferred or if funds tied to the transaction were depleted.
Citing Sections 8 and 13 of the High Court Law of Lagos State 2018, Order 42 Rule 1(1) of the High Court Civil Procedure Rules 2019, Practice Direction No. 2 of 2019, and guided by the 2023 Court of Appeal ruling in Brovan Oil & Gas Ltd v. Petro Marine Ltd, the court granted two key orders:
A restraining order preventing IGI and Four H Nigeria from selling, assigning, transferring, or entering into any transaction on the disputed property pending Bravematt’s completion of pre-action protocol steps.
An order restraining IGI from withdrawing or reducing the balance in its Keystone Bank Account No. 1012692681 below N7.475 billion, the amount Bravematt claims as the final payment for the land.
Justice Olukolu said preserving both the land and the funds was necessary to prevent injustice and maintain the status quo until the claimant files its full suit.
The orders are valid for 14 days, during which Bravematt is expected to complete all pre-action requirements. The court also directed that the enrolled orders be served promptly on the defendants and the bank.
