Olumuyiwa Ogundele, a resident of Ibadan, Oyo State, has been waiting for over a year to recover N5 million in capital and N1 million in promised interest from Hectares and Homes Nigeria Limited. Despite repeated appeals, the real estate company has yet to refund his investment.
Ogundele told FIJ that after realising the company would not honour its commitment, he pleaded for the return of his hard-earned money. However, instead of issuing a refund, the company’s CEO, Andy Morkar, continued to delay through intermediaries, requesting more time.
“I invested with Hectares and Homes Nigeria Limited, a subsidiary of Property Votes. I invested N5 million, hoping to collect N6 million after a maturity period of six months. The term has elapsed, but they are not forthcoming with my investment or profit. Every time I speak to them, they keep shifting the goalposts,” Ogundele explained.
According to Ogundele, his troubles began in March 2023, when he was introduced to the company through a friend and one of its marketers, who assured him of its legitimacy.
As part of the agreement, he received a postdated check to be cashed after the investment matured. However, when he visited the bank on September 2, 2023, the check bounced.
Efforts to recover the funds have been futile. Ogundele said he reported the matter to the police in Ibadan and the Economic and Financial Crimes Commission (EFCC), but no action was taken. Even hiring a lawyer did not yield results.
“What surprises me is that the company is still operating in Lekki and Abuja, but they refuse to refund my money,” Ogundele lamented.
When FIJ contacted Morkar on Sunday for comments, he claimed that Ogundele’s money would be refunded soon but did not provide a specific timeline.
“They will be settled shortly. The agent who brought his transaction is working something out with my lawyer. They will be duly paid,” Morkar said.
