Mr Kingsley Nwankwo is asking the Federal High court Abuja to immediately issue an order to shut down the operations of an Abuja and Lagos based property of popular real estate company, Gtext Homes Limited alleging the company of defrauding innocent citizens.

The complainant also raised an allegation that Gtext Homes Limited failed to comply with an earlier Abuja Hih Court judgment ordering them to pay $18,000, representing a 2.5% commission on a successful facilitated sale of two properties in Dubai.

The Petitioner stated that despite numerous attempts and demand notices to resolve the matter between him and the company amicably, the company has refused to comply with the Abuja High Court judgment, prompting him to seek further legal recourse to close down Gtex Homes due to insolvency.

He expressed worry over what he described as recent revelation that the owner of the Dr. Stephen Akintayo has an ongoing criminal case (case ref number: 222004438863) in Dubai which he said led to a six month travel ban placed on him between November 2022 and May 2023.

He said it was alleged that “After a plea to release him on bail for only two weeks, he is yet to return to Dubai in May 2023.

Investigations has proven that he doesn’t possess a developers license in Dubai neither has he ever had one, yet he advertised on popular media outlets, using  bloggers to execute his plans and engaging A-list music celebrities in making people believe that he is constructing 180 units of luxury residential units in Dubai.

Dr Akintayo has never built or contracted any structure in Dubai or any part of the world except in Nigeria (some of which are either not completed or locked up and under investigations by the Nigeria’s Economic Financial Crimes Commission EFCC while others do not exist physically)

It is alleged that the reputation of the company has been tarnished in recent times due to its notoriety with non payment of commissions due by referrals, non payment of contractors, non remittance of investors’ rental incomes and dubious sale of unverified/unregistered second party lands both in Nigeria, Dubai, Canada, US and Dublin and a gamut of other allegations of fraudulent practices.

Many seemingly defrauded individuals and entities have been hesitant to pursue legal means of redress due to perceived delays in the justice system and law enforcement agencies, and his notorious style of frustrating investors to seek for a refund of a part of invested funds.

Asides from the financial aspect, Gtext Homes Limited has also been associated with a series of fraud cases. Victims have reported fraudulent schemes, including Ponzi schemes like the deceitful GVEST and Farms project that promised bogus returns on investment to investors but failed, paying only a handful whose testimonials are circulated online to lure more unsuspecting individuals. As we speak, there is NO Existing or functioning farm operated by Gtext, even the pilot scheme it showcased about 2years ago at its Sapphire estate Ikorodu.

It will also be recalled that among the aggrieved business partners/contractors is one Mr Adeshina Ogedengbe, the founder of POS Technology and Digital Services Ltd, who accused Stephen Akintayo of GText Homes in Lagos of breaching a contract agreement between them by refusing to pay him a balance of N2.9 million after Police forced him to pay an initial N12 Million.

Despite leveraging on some media platforms and some influencers to announce bogus real estate projects in Nigeria, it has been alleged that some of their projects have incomplete documentations”

According to the Nwanko, the current court application, filed by at the Federal High Court Abuja, includes the Corporate Affairs Commission as respondents as it seeks to wind up Gtext Homes Limited, saying that it  aimed at preventing further instances of fraud and to protect the public from falling victim to the alleged illicit activities.

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