Nigerian real estate firm RevolutionPlus Property Development Company Limited has dismissed what it described as coordinated false narratives, misleading publications, and malicious social media campaigns surrounding its Flourish Apartments & Terraces Project located on Orchid Road, Lekki, Lagos.

The company made this known in a statement issued on Thursday and signed by its Chief Executive Officer, Bamidele Onalaja.

According to Onalaja, while the company acknowledges concerns raised by some subscribers over project timelines and additional financial contributions triggered by prevailing economic realities, it strongly rejects attempts to criminalise what it described as a legitimate commercial development project.

“We strongly reject the attempt by a small group of individuals to criminalise a legitimate commercial and developmental project through blackmail, media intimidation, misinformation, and deliberate distortion of facts,” the statement read.

Onalaja explained that more than 70 per cent of subscribers to the Flourish Apartments & Terraces project remained cooperative and understanding regarding the economic challenges affecting Nigeria’s construction and real estate sectors.

He attributed the project’s financial adjustments to soaring inflation, exchange rate instability, and the sharp increase in building material costs experienced across the country since 2020.

“As responsible stakeholders committed to seeing the project completed, many subscribers agreed to cooperate with the company by making additional financial contributions required to bridge the inflation gap and facilitate project completion,” he stated.

The CEO, however, alleged that between eight and 13 subscribers had refused to cooperate with the revised completion framework while allegedly spreading false narratives and negative propaganda against the company.

Onalaja further claimed that some of the individuals involved had defaulted on payment obligations and failed to honour undertakings previously agreed upon before the Economic and Financial Crimes Commission.

“It is important to state clearly that several of these individuals defaulted on their payment obligations and failed to honour undertakings previously agreed upon before the Economic and Financial Crimes Commission,” he said.

According to him, some subscribers willingly signed agreements during EFCC-supervised engagements to make additional payments required for the continuation and completion of the project.

While many subscribers reportedly complied, Onalaja alleged that a few withheld payments while still demanding allocation and delivery of property units despite non-compliance with the revised financial structure.

“The question therefore remains; how can a project of this magnitude be completed when certain parties intentionally withhold funds required for construction while simultaneously attempting to frustrate the process through media attacks and public harassment?” he queried.

The company maintained that no property allocations or handovers could be completed unless subscribers fulfilled their financial obligations under the revised framework.

Onalaja also insisted that media campaigns, intimidation, and alleged blackmail would not compel the company to surrender its contractual and legal rights.

The CEO further disclosed that law enforcement agencies and relevant authorities had conducted multiple inspections at the Flourish Apartments & Terraces project site and acknowledged the legitimacy and scale of the development.

“Furthermore, law enforcement agencies and relevant authorities have visited the Flourish Apartments & Terraces site on Orchid Road on multiple occasions, no fewer than three separate inspections, and openly acknowledged the scale, legitimacy, and ongoing nature of the development,” he stated.

He added that officials who visited the site commended the company’s investment efforts and encouraged subscribers to remain patient as construction progressed.

Onalaja also dismissed rumours alleging that he had fled Nigeria for the United States, describing the claims as false and misleading.

“We also categorically refute the false claim that the Chairman or Chief Executive Officer of RevolutionPlus, Bamidele Onalaja, fled Nigeria or absconded to the United States. This claim is entirely false, malicious, and intentionally misleading,” he said.

He reaffirmed the company’s commitment to completing the project, engaging subscribers transparently, and resolving disputes through lawful and professional means.

The CEO added that the company’s legal team was reviewing all alleged defamatory publications and misinformation campaigns surrounding the matter and reserved the right to pursue legal action where necessary.