In a damning tale of shattered dreams and alleged financial deceit, dozens of homebuyers in Lagos are accusing Bamidele Onalaja, the Executive Director of RevolutionPlus Construction & Infrastructure Company Ltd, of swindling them out of millions in a botched real estate venture. Subscribers to the Flourish Apartments & Terraces project on Orchid Road, Lekki, claim they poured over ₦399 million into the development, only to be left with unfinished shells, endless delays, and a developer who has allegedly fled to the United States amid an ongoing probe by the Economic and Financial Crimes Commission (EFCC).
What began as a promising investment in 2019 has devolved into a four-year nightmare for at least 50 Nigerian families, including professionals, public servants, and diaspora residents. Eight aggrieved subscribers—Dr. Adedotun Adelosoye, Dr. Uzochukwu Odika, Mrs. Thelma Adepeju Egunjobi, Mr. Isaac Tarikeidieye, Mr. Ezihe Paul Nnaemeka, Prince Owunari Yellowe, Mr. Robert Edukugho, and Mr. Rasheed Abolomope—spoke to SaharaReporters, leveling serious charges against Onalaja. They accuse him of fraudulent conversion of funds, repeatedly demanding and collecting extra payments, abandoning the project since 2020, and evading oversight even after the EFCC got involved.
Speaking on behalf of the group, Dr. Adelosoye described the ordeal as a “fraudulent conversion of our hard-earned money” that has left families “financially drained, emotionally battered, and fearful that justice may never come.” The subscribers, many of whom are based abroad, say they trusted RevolutionPlus’s assurances that the premium residential estate—featuring 56 units of four-bedroom semi-detached duplexes, three-bedroom terraces, and two-bedroom apartments—would be a secure haven for their savings.
Between 2019 and 2021, the eight subscribers alone paid ₦399.2 million for their units, equivalent to about 1millionatthetime.”Thoseofusinthediasporaindividuallycommittedover120,000 each to get an average of ₦50,000,000 for this project,” Adelosoye revealed. The company promised delivery by December 2021, based on a 12-month completion timeline. But as the deadline passed, the homes remained far from finished, with allegations that funds were diverted to “questionable land speculations and allocation projects” elsewhere in Nigeria.
Instead of progress, buyers faced escalating demands. In a December 2022 letter, Onalaja appealed for additional payments, citing inflation and rising material costs, promising completion within six months. Reluctantly, subscribers coughed up more money in 2022 and 2023 to avoid total loss. “He had always come back every six months to demand more money whilst Flourish Apartments and Terraces, which we have fully paid for, remained abandoned since 2022,” Adelosoye said.
Frustrated, the group petitioned the EFCC’s Lagos Zonal Office in August 2024. The commission’s Tax Fraud Section took up the case, summoning and questioning Onalaja before releasing him on bail. However, subscribers criticize the handling, claiming it allowed Onalaja to extract another ₦45 million in May 2025 as the first half of a ₦90 million “project support” payment. Despite calls for an escrow account, EFCC officers allegedly insisted on direct transfers to Onalaja’s account, assuring monitoring and progress.
“We wanted accountability, hence our vehement refusal to make direct payment to his account, but the EFCC team brushed our concern aside,” Adelosoye recounted. “Alas, once the new payment of over ₦45 million was made, Onalaja disappeared again.” Since June 2025, Onalaja has reportedly ignored EFCC invitations, with evidence suggesting he was in Nigeria between July and September 2025 despite claims of being abroad. Subscribers even deposited the remaining funds as bank drafts with the EFCC in July 2025, but Onalaja has refused to collect them.
Adding to the outrage, the group alleges Onalaja has relocated to Dallas, Texas, where he’s setting up a new operation, potentially preying on more investors. “This has shown he has no intention to deliver the project or honour the agreement reached with us and the EFCC,” Adelosoye said.
The human cost is profound. Some subscribers are drowning in loan repayments with mounting interest, while others staked retirement or life savings. Public servants tapped into the National Housing Fund and mortgages, only to face endless rent payments. Nearby estates launched around the same time were completed by 2022, with residents settled in. “We can no longer watch our investments lie in ruins,” Adelosoye lamented. “These properties are already deteriorating due to lack of attention, despite complete payment of the contract sum.”
The subscribers are demanding that authorities declare Onalaja wanted, arrest him, and prosecute him to restore faith in Nigeria’s institutions. “This brazen RevolutionPlus attitude to investors could lead to loss of investors’ confidence in our country, loss of much-needed diasporan remittances and breakdown of law and order,” Adelosoye warned. “We are sincere, hard-working people who just want to have a decent living place.”
When contacted by SaharaReporters, Onalaja denied evading the EFCC and accused the subscribers of abandoning a “valid agreement” supervised by the commission. He claimed significant work is underway at the site and attributed delays to inflation and other issues. “My only response to you is try and visit the site and see the massive project ongoing, then thereafter, form your opinion,” he said. “A project can be delayed due to several issues, such as inflation and so on, but it can never be denied.”
Onalaja did not deny the original 12-month timeline or the failure to deliver after four years. Confronted with evidence of additional payments, including ₦32,204,081 per subscriber as a “variation fee” in a December 18, 2024, letter from RevolutionPlus, he grew hostile. He hurled abuses at the reporter, threatening to “take you up with the authority” and labeling the inquiry as “bullying” and “blackmail.” “Tell whoever that sent you that I can never be intimidated on a project I have spent almost ₦4 billion building. I will finish the project with or without them! … You lazy, hungry, nonsense, poor so-called journalist!” he raged.
As the saga unfolds, the unfinished Flourish Apartments stand as a stark symbol of alleged betrayal, with subscribers vowing to fight for justice amid growing concerns over accountability in Nigeria’s real estate sector.
