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Disclaimer: Tunde Gbadamosi Does Not Have Any Stake in Amen Estate – Redbrick Homes
More details on the frosty relationship between former Lagos governorship candidate and politician, Babatunde Gbadamosi and his ex wife, Sade Balogun have emerged.
While Gbadamosi has been all over the place crying foul and claiming part ownership of Amen Estate, a Highbrow Estate in Lagos, Sade who is Chief Executive Officer of the holding company, Redbricks Home International Limited, has renounced her former husband and disclosed that he was nothing more than a mere sleeping partner who did not have a single financial commitment in the business and had since voluntarily resigned from his position as a director of the company.
Trouble started brewing between the duo when Babatunde Gbadamosi met and married the London based daughter of a top politician, Yinka Balogun, now Yinka Balogun Gbadamosi.
While Gbadamosi has been putting out statements warning clients not to do business with Redbricks Homes, his ex wife, Sade released a statement proving that the politician willingly resigned in the presence of his lawyer and a witness, with proof of his resignation letter.
The statement which was released in top national dailies reads:
PUBLIC NOTICE TO ALL INVESTORS AND POTENTIAL INVESTORS
The attention of the Management of Redbrick Homes International Ltd, developers of Amen Estate phase 1, phase 2 and phase 3, has been drawn to certain materials in circulation to the effect that Mr Babatunde Olalere Gbadamosi is associated with Redbrick Homes International Ltd and its real estate projects.
For the avoidance of doubt, once upon a time, Mr Gbadamosi, a full time Politician, used to be a sleeping partner/shareholder without any financial investment and one of the Directors of Redbrick Homes International Ltd, but he has since voluntarily transferred, for consideration, the entirety of his shares in Redbrick Homes Intl Ltd and has also resigned his directorship of its Board since July 1, 2021.
The Board composition, shareholding structure and share capital of Redbrick Homes International Ltd has accordingly changed completely. Folasade Balogun
(formerly Folasade Gbadamosi) remains the Chairman and Chief Executive Officer of Redbrick Homes Intl Ltd, a position she has served in since the inception of the
company and under her leadership, Redbrick Homes Intl Ltd has continued to deliver quality service to its customers uninterrupted. These facts can easily be verified at
the Corporate Affairs Commission.
However, we are aware that Babatunde is challenging his own voluntary resignation, that was signed in front of two of his counsel, two of our counsel and a notary public, on the grounds that he signed under duress.
Our Lawyers, Babalakin & Co are dealing with this. The Suit No is: FHC/L/CS/742/2021 at the Federal High Court, Lagos before Justice A.O Faji.
For over 12 years, Redbrick Homes International Ltd have been one of the leading and most reliable posh properties provider in Nigeria. Our dedication and commitment to our cause remain unwavering, and you all can be rest assured that your satisfaction and the safety of your properties and investments will never cease to be our topmost priority now and always. Our doors are open, and we also
reassure you that acquiring lands and properties with us are not only completely safe and risk-free, it is also the choice thing to do.
We use this opportunity to express our sincere appreciation to all our customers and potential customers for standing by us over the years and wish to reassure them even more, that we would not compromise on our excellent service that they have become accustomed to. Thank you.
Folasade Balogun (formerly Folasade Gbadamosi)
Chairman/CEO
Redbrick Homes Intl Ltd
Concerned society watchers are wondering why Gbadamosi is filled with so much bile, after hurting his ex wife so badly and why his new found wife has embarked on a smear campaign against her.
According to a resident of Amen Estate, home owners were very pleased when Gbadamosi was sent packing by Sade:
“This was a man who strutted the estate with so much arrogance and high handedness. He was always fighting with residents. There was a time a driver was waiting to pick up his boss and Gbadamosi began to raise hell because the driver packed on the road just outside the boss’ house.
He interfered in almost every home, would be quarrelling over sprinklers, people going about their normal life, jogging around the estate, as if they had no right. He was a menace that we are so happy is gone. Good riddance to bad rubbish”
Those in the know say Sade picked the former guber aspirant from ignominy and gave him a bearing through which he could even vie to be governor but he broke her heart and her trust:
“The best thing to happen to Sade is kicking out that man from her life.
He was a serial womaniser who even caused problems between a couple in that estate.
It’s so funny that he is the one now accusing her of infidelity when we all know how he ran after women, married and unmarried.
Do you know that this man was always going behind collecting ten percent money from contractors, behind Sade’s back?
One good thing though is that Sade was smart enough not to give him full control of the business, he would have wrecked it.
This is a man who would corner intermediary agents wanting to sell homes and tell them home owners must approach the company and the company must act as agent to sell any house within the estate. All he wanted was to corner the money.
He was a big man without cash.
Why else will a wife throw out a husband with his clothes and only one car? Director my foot!” Said another resident.
Many wonder why Sade has remained silent especially as the marriage between Tunde and Yinka was contracted when they were still legally married
“She should sue him for bigamy. The man is just a gold digger but she is considering the children, poor woman.” Said a family source.
Social media watchers are regaled with mudslinging directed at Sade by the new wife, Yinka Balogun Gbadamosi and wonder why a woman who came to snatch another woman’s husband is now the aggressor.
A keen observer noted that Sade has been the target of Yinka’s post for almost six months now:
“She behaves so foolishly, she thinks she has seen husband, she has forgotten that the cane used in beating the first wife is waiting for the second wife.
Gbadamosi is a smooth talker and liar who has simply latched on this new one for political and other gains, her own day will come…these London girls should start using their brains”.
Another source close to the family said,
“Obviously, Tunde is using Yinka to fight his ex.
Gbadamosi himself is not talking about any infidelity, it is Yinka who came to take another person’s husband who is talking.
As someone who has worked in government house, has properties to her name, she should be very careful herself. I learned she has moved into another Estate on the Island with her new husband, I hope she knows that he drove the new car close to Amen Estate just to show off?
This new woman who is obviously over exuberant thinking she has seen husband, should listen to the advice of her elders. A word is enough for the wise. A cassanova is always a Casanova.
“The truth of the matter is that, Yinka Balogun thought he was chairman of Amen Estate and probably still believes that lie.
Gbadamosi too was hoping to leverage on her dad’s position.
Gold digger met gold digger.” The source stressed further.
Giving more insight, sources close to both parties disclosed that Gbadamosi met his new wife Yinka Balogun on Facebook and got married to her on his wedding anniversary to Sade, which according to the source, is very sinister:
“Do you know Tunde and Yinka met on Facebook and coincidentally Yinka and Sade share same surname, Balogun.
As if there is something else behind the whole affair, Tunde chose his wedding anniversary to Sade to wed his new found lover.
Where we come from, we would say, you want to cancel one to replace another. God has been on Sade’s side because we learned that her ex husband is allegedly very fetish”.
As it stands now, it is obvious that the tumultuous business relationship between Babatunde Gbadamosi and Sade has broken down irretrievably and Gbadamosi has been kicked out of the business for good.
Below are the documents
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From Construction Sites to Community Service: Temitope Akinyemi Emerges as a Model of Leadership and Impact
Energy experts in Nigeria’s downstream petroleum sector have defended the pricing structure of the Dangote Petroleum Refinery, accusing some fuel markers of attempting to blackmail the refinery and mislead the public over the recent increase in petrol prices.
The experts said reports suggesting that the refinery’s latest adjustment is solely responsible for the recent hike in fuel prices were misleading, noting that importers are also bringing in petrol at almost a N1,000 per litre, while the refinery’s coastal price is N948 and the gantry or ex-depot price stands at N995 per litre.
They stressed that public comparisons fail to consider the differences in pricing structures and supply channels.
According to the experts, N948 per litre represents the coastal delivery price, which refers to petroleum products transported by marine vessels or barges from the refinery to depots along the coastline. On the other hand, N995 per litre represents the gantry or ex-depot price, which is the rate paid by marketers who load petrol directly from the refinery into tanker trucks at the loading gantry for onward distribution across the country.
The experts explained that the two figures should not be interpreted as conflicting prices but rather as different logistics arrangements within the petroleum distribution chain.
Speaking with our correspondent on Sunday, energy expert David Okon said the pricing adjustments were inevitable given prevailing market conditions.
According to him, Dangote Petroleum Refinery & Petrochemicals operates in a deregulated market and procures crude at international prices, which have risen sharply due to geopolitical tensions in the Middle East.
“The refinery is already absorbing part of the cost to cushion the impact of the crisis on Nigerians. We can see what is happening in other parts of the world where shortages and scarcity are being reported despite higher prices, yet the Dangote Refinery has continued to guarantee domestic supply,” he said.
Okon explained that when the refinery previously sold petrol at N774 per litre, crude oil was landing at about $68 per barrel. However, with crude now arriving at roughly $95 per barrel, the cost difference of about $27 per barrel translates to nearly N40,000 per barrel when converted to Naira.
“You cannot expect a refinery to continue selling at the old rate under those circumstances,” he added.
“If imported products were truly cheaper, importers would still be selling at the previous prices.”
He warned that without local refining capacity, Nigeria could have faced severe fuel shortages, long queues at filling stations and a resurgence of black market sales.
“Without the Dangote Refinery, many filling stations would likely shut down, queues would return across the country and black market traders would exploit the situation, hawking four litres keg at N20,000 or more. The refinery has effectively prevented that scenario,” he said.
Another analyst, Mohammed Ibrahim, also faulted narratives circulating in some quarters suggesting that the refinery’s pricing adjustment was responsible for worsening economic hardship in the country.
Accusing some importers of attempting to manipulate public perception, he said, “What we are seeing is nothing but deliberate blackmail by some fuel importers who feel threatened by local refining.
“They are twisting the pricing structure to mislead Nigerians and create unnecessary panic in the market.
“By exaggerating the refinery’s gantry price and ignoring the comparable costs of imported fuel, they are trying to make it appear as though Dangote Refinery is the cause of rising prices and economic hardship. This is a calculated attempt to protect their import businesses and undermine local refining, which is meant to reduce our dependence on imported petrol.”
Ibrahim added that such narratives were aimed at portraying the refinery as the reason Nigerians were struggling with higher petrol prices.
He stressed that petrol pricing in Nigeria is largely influenced by global crude oil prices, exchange rate fluctuations, and distribution logistics, noting that these factors affect both locally refined and imported fuel in the country’s deregulated market.
Afolabi Olowookere, Managing Director and Chief Economist at Analysts’ Data Services and Resources (ADSR) Limited, explained that although Nigerians expect refined products from the refinery to be significantly cheaper, prevailing market realities such as global crude oil prices, the cost of crude supply and refining margins make substantial price reductions unlikely in the short term.
“Therefore, improving domestic crude allocation to the refinery would strengthen supply stability and enhance the long term benefits of local refining for the economy,” Olowookere noted.
Recent conflicts in the Middle East and disruptions along key shipping lanes have tightened global oil supply, pushing crude prices past $90 per barrel, a development that directly raises the cost of both imported and locally refined petrol in Nigeria.
The unrest has pushed up fuel costs and transportation in several countries, including Ghana, the United States, the United Kingdom, South Africa, India, Canada, Brazil, Germany, France, and Japan, as rising crude prices increase the cost of refining, distribution, and logistics globally.
CHETACHI NWOGA-ECTON EMPOWERS 300 WIDOWS IN IMO
A renowned humanitarian and proud daughter of Mbaise in Imo State, High Chief (Dr.) Princess Chetachi Nwoga-Ecton, has empowered over 300 widows and vulnerable women across the Owerri Zone, in a remarkable demonstration of compassion and service to humanity.
The empowerment programme, which took place at the Palace of the Eze of Ngor Okpala, HRH Eze Engr. Fredrick Nwachukwu, brought together community leaders, traditional rulers, women groups and beneficiaries from different communities within the zone.
During the event, the widows received food materials and cash support, aimed at helping them meet basic needs and strengthen their small-scale businesses.
The initiative was widely applauded as a timely intervention to support women who often face severe economic hardship after losing their spouses.
Many of the beneficiaries expressed heartfelt appreciation to High Chief (Dr.) Nwoga-Ecton, describing the empowerment as a lifeline that would help them take better care of their families.
Some widows, while offering prayers for the philanthropist, noted that the gesture had restored hope and dignity in their lives.
Fondly known as Ada Imo and Adaure, High Chief (Dr.) Princess Chetachi Nwoga-Ecton has earned widespread admiration for her consistent humanitarian efforts both within Nigeria and internationally.
Through her philanthropic activities and foundations, she has continued to support widows, children, and vulnerable communities with interventions in healthcare, welfare and economic empowerment.
Community stakeholders who attended the programme commended the Mbaise-born philanthropist for her generosity and dedication to uplifting the less privileged, noting that her actions reflect true leadership and compassion.
Observers say the initiative further reinforces her growing reputation as one of the most impactful humanitarians of this generation, whose commitment to humanity continues to inspire hope across Imo State and beyond.
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