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Morola Babalola, The Maven Of Real Estate Business In Nigeria

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When it comes to the business of Real Estate in Nigeria, the name Morola Olabisi Babalola is definitely worthy of some accolades and encomium. Driven by her passion to create impact and see many rise from the scratch of shelter, to live among the high and mighty in the society, coupled with her spirit of hard work and wealth of experience, she has turned the fantasies of countless number of families into fantastic realities.

 

No doubt, when Morola was going into the Nigerian property business, she had one goal at the back of her mind, to help those who would not have dreamt of owning a house, not just to own a house, but to own it among the high class. Her imprints in the industry have shown that she set out to impact the actual end-users, people who are actually in need of homes, reaching out to new families who are just growing up with the creation of “middle-income-homes” in the high-ranked area of Lekki and Victoria Island. She is said to have been one of the realtors that broke the fallow ground of that area. Today, many professionals, families, small and medium business owners who are now proud house owners, have her to thank.

 

As if that was not enough, Morola in her bid to ensure no one is left out no matter their level of income, pioneered a housing cooperative “Affordable Housing Cooperative Society Ltd” which is aimed towards seeing tenants become landlords of the houses they rent, empowering members and putting their dreams right in their hands. (Watch out for the unveiling of this very soon)

MOROLA BABALOLA

With about two decades of experience, the Ogun state-born mother of three began her career in real estate when many were still scared of venturing into the sector. She has been exposed to the industry right from the beginning. As a pioneer staff with the foremost real estate company, Primewaterview Limited, Morola started most of the housing units in the company, with individual units in Oniru. At the time, she was also the head of Corporate Services in charge of marketing and managing high net worth individuals.

 

Morola’s hard work, passion and creativity saw her climb the ladder of greatness when she was deservedly promoted to become the Managing Director of PWV Management Services (a subsidiary of the group company) where she turned the subsidiary around from drowning into a profitable venture and later the Group MD and Chief Executive Officer of Primewaterview Holdings Limited in 2012, after the resignation of the erstwhile GMD and CEO, Adetunji Ogunwusi. She practically organized the facility management and other subsidiary companies for the firm.

 

After selflessly serving under the Primewaterview company for close to 20 years, Morola finally emerged with her own, Townsend Property Investments Limited, a seasoned and fast-growing indigenous real estate Company with a passion for affordable and comfortable housing development, in 2017. Although the company had been incorporated earlier, the full operation began in the year 2017. It is interesting to know that this was a period when the country’s economy was being shaky, but Morola was born to succeed even in the stormy weather. Almost immediately, Townsend hit the ground running with the launch of a 38-unit home in Lekki delivered to the subscribers on the 5th of February, just as promised. At the moment, some other massive, outstanding housing projects are in the pipeline.

Morola Olabisi Babalola

With Townsend Properties Limited, Morola is setting a new goal post for others to follow, with the launching of real estate into various other sectors, like tourism, with partnership deals with international organizations like the African Union, AU. This is geared towards building tourist destination centers across the state of the federation. This is in a bid to create a more comfortable and stress-free experience for tourists. This initiative will see tourists in a whole new world of a fascinating experience.

 

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Billionaire Femi Otedola’s mother, Christine, receives prestigious Papal honour…

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In a remarkable recognition of her selfless service to the Catholic Church and society, Mrs Christine Doja Otedola, mother of renowned businessman Femi Otedola, has been conferred with a Papal Honour by Pope Francis.

 

 

A Papal Honour, also known as a Pontifical Honour, is a prestigious award conferred by the Pope, the head of the Catholic Church, on individuals who have demonstrated exceptional service, dedication, and commitment to the Church and society.

 

The honour, one of the highest in the Catholic Church, was presented to Mrs Otedola by His Grace, Archbishop Alfred Adewale Martins of the Metropolitan See of Lagos, on behalf of the Pope, on September 14.

 

Mrs Otedola was specifically recognised in the Pro Ecclesia et Pontifice category, a testament to her unwavering commitment to the Church and humanity.

 

Femi Otedola took to his X page to celebrate his mother’s achievement.

 

 

Sharing photos from the ceremony and expressing his pride, he wrote: “Congratulations, Mummy – Dame Christine Doja, on your award of the Papal Honour of Pro Ecclesia et Pontifice by His Holiness Pope Francis. This is an honour well deserved.”

 

 

 

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Real Reasons ICPC Arrests El-Rufai’s Finance Commissioner, Shizzer Joy Nasara Bada At Lagos Airport

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Bada was reportedly travelling out of the country on Sunday when ICPC operatives apprehended her at the Murtala Muhammed Airport in Lagos. 

 

 

 

Operatives of the Independent Corrupt Practices and Other Related Offences Commission (ICPC) have arrested a former Commissioner of Finance and Accountant General in Kaduna State, under Nasir el-Rufai’s administration, Shizzer Joy Nasara Bada at the Lagos Airport.

 

 

Bada was reportedly travelling out of the country on Sunday when ICPC operatives apprehended her at the Murtala Muhammed Airport in Lagos.

 

The ICPC officials said there was rising suspicion of a potential escape in the wake of mounting corruption allegations against the ex-governor el-Rufai, and herself.

Sources close to the government indicated to The Guardian that the ICPC had been tracking Bada’s movements after receiving an intelligence report suggesting that she might leave the country to evade investigation.

 

 

 

The arrest came as part of a broader crackdown on officials who served under el-Rufai’s administration, with multiple figures now under scrutiny for their roles in the alleged financial mismanagement of the state.

 

 

Already, el-Rufai has been indicted by the Kaduna State House of Assembly in its committee report of allegedly syphoning N423 billion from the state treasury. While the specific allegations against Bada remain under wraps, insiders believe they are connected to large-scale financial irregularities, including the mismanagement of public funds and alleged embezzlement.

Bada’s arrest has sparked widespread interest, with political observers questioning whether this could be the beginning of a wider probe into the former governor’s administration.

 

 

 

The Commission is expected to provide more details as the investigation unfolds, potentially exposing a web of corruption that could implicate several top figures.

Recall that Nasir El-Rufai, had also initiated a legal action against the Kaduna State House of Assembly following its claim that his administration misappropriated N432 billion during his eight-year tenure, resulting in significant state debt.

 

 

 

A fundamental rights suit was filed at the Federal High Court in Kaduna in June by the former governor’s attorney, Abdulhakeem Mustapha, a Senior Advocate of Nigeria.

 

 

 

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Pre-paid meter bills: Nigerians dump electrical appliances to cut cost  …..

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Usage of electrical appliances is one lifestyle Nigerians have come to embrace to achieve ease and save time in the various activities they perform in their homes.

 

 

During the era of pre-paid metres, gadgets such as electric stove, cooker, blenders, washing machines, boiling rings, pressing iron, deep freezers, among others, were highly purchased by households to either upgrade their kitchens or ease time in activities surrounding their lives.

 

 

Many especially women join thrift’s contribution (ajo or esusu as popularly known in Nigeria) to be able to raise money to purchase some of these items thereby putting smiles on the faces of producers and distributors of such gadgets.

 

However, the economy and lifestyle has discovered that many households have now abandoned the use of most of these gadgets since the introduction of prepaid meters.

 

Some ended up selling them to people selling fairly used products or other people still on post paid meters.

 

 

Mrs. Bridget Johnson, a banker said: “ Since I started using prepaid meter, I have stopped using most of my gadgets, especially the electric cooker, washing machine, pressing iron, among other things.

 

“We watch television set once a day. I had to buy an ipad where I downloaded various types of cartoons and educational materials for my kids to keep them busy.

 

“We switch off the lights and put on my fridge for three hours and switch it off once it is iced for a day.

 

“The rate at which the prepaid meter runs is alarming of recently.

 

 

Before I pay N32 per unit and when I load N10,000 with strict adherence to the rules my husband and I placed in the house it lasts us up to two weeks for the bills to get exhausted.

 

 

But recently, I discovered that when I loaded the N10,000 it wasn’t up to the two weeks before it finished.

 

“I had to call the electricity distribution office where they told me I had been transferred to band A.

 

“I was so pissed off with such a transition but had no choice than to accept it .

 

“In Nigeria of today you have to cut costs whether you like it or not.”

 

 

Mr. Shodimu Olorunfemi, a businessman, said: “Using a prepaid meter has its own advantages. “One of them is regulating what you consume.

 

“By doing so you have to forfeit carrying out certain lifestyles, especially using electronic gadgets that consume lots of electricity.

 

“Such gadgets like electric cooker, hot plate, pressing iron, refrigerator, Air conditioner, among others consume higher units of electricity.

 

 

In my house, I prohibited the switching on of lights during the day and also watching television all the time.

 

“Except I have a very important event I want to attend, I don’t iron my clothes. I pick the clothes for each day and hang them to straighten up.

 

 

My wife and I had to give out most of our gadgets to family members and friends who use post paid meters.

 

“With this development and the state of the economy, those selling electronic gadgets are on the losing side because people like us will not even have a spoilt gadget talk of buying a new one.”

 

For Mrs. Bakare Judith, a secretary and newly wed, she sold all her home appliances that consume high electricity units.

 

“I had to sell most of the electric gadgets I brought to my husband’s house when I discovered that he was using a prepaid meter.

 

 

I use the blender once in two months and ironing is done once in a blue moon.

 

 

 

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