Business
‘I Have Never defrauded Any One In My Entire Life”- CEO Pelican Valley
‘I Have Never defrauded Any One In My Entire Life”- CEO Pelican Valley
The Chief Executive officer of the Award winning Real Estate Firm, Pelican Valley Nigeria limited, Ambassador (Dr) Babatunde Adeyemo has revealed that he has never defrauded anyone in his entire life and even as Pelican Valley has Four lawyers under it, none has ever go to court to defend the company on any fraud related offence.
The Journalist Turned Realtor who hailed from Oyo state said that Pelican Valley has always carried out its Business Transactions with the fear of God ,good will and integrity, saying the organisation’s growth has been gradual because the firm has never delve into what it cannot handle.
According to Ambassador Adeyemo ” I can be bold to say that I have never defrauded anyone in my entire life, I don’t know any DPO, and despite having at least four lawyers under our company’s retainership, none has ever gone to court to defend us because we have always done things with the fear of God, goodwill and integrity. We started small and began growing, we don’t bite more than we can chew, we are contented with our ‘slow and steady win the race’ approach. We are not greedy and we don’t make ourselves vulnerable. I have been doing this real estate business for close to 13 years alongside my career in journalism but I have always maintained a very low profile with it. Some will think I am just making it, no, God has been helping us for some time now but despite that, I was only using a car that I changed its engine five times before getting another one. Patience is the word. Real estate is like a cumulative grade point just like it is in the university. The foundation is very essential in real estate business, there are some things one has got to do before you begin to sell land according to government rules but if you fail to do them and after collecting people’s money you started gallivanting and spending the money as it pleases you, a time will come when a government will come and force you to do what you have failed to do and those things are usually capital intensive. At that time, such real estate merchants will be in trouble, they will think any way is a way, they will want to defraud their clients, cut corners, do anything to survive.”
In an Interview with news Direct and monitored by newsbarrelng The ECOWAS and Anti Corruption Ambassador explained that his quest to be financially independent, stable and love for business were the reasons he diversified from journalism to real estate.
” I have always been someone who wants his integrity intact but I realised most Nigerian journalists are always struggling with the brown envelope syndrome, you know what I mean. Journalists will sometimes see terrible things but keep quiet because they have collected money. So, in a bid to guide against all of these, I started thinking of having a second address, something that will make me to be more financially stable and independent, that was how I got into real estate. It’s something that I have always loved doing because I have passion for unusual homes. The land at Pelican Valley inspired me too. Incidentally, the genesis of my real estate business has two sides to it. When my immediate elder brother was in the university, he had a barbershop and he employed a stylist to run it. However, about the time that I finished my certificate programme from the Federal Cooperative College and I was supposed to observe one year internship, the stylist said he was no longer working for my brother. In fact, he stopped working while barbing one of our customers, I had to pick up the clipper and finished up the barbing. Without ever being trained as a barber, that was how I took up the job and operated the shop throughout my university days. So, it was through barbing that I sponsored my education. Our barbing shop then became an household name such that even when I was in the school, people would wait for me to come home during the weekend to barb their hairs. To cut the story short, after my university education and I was posted to Niger State for service, the business went down, when I came back from the service, I wanted to resuscitate the business but my brother said that we should step up to transportation business. I invested about N1.8m into this business, however things didn’t go the way we envisaged, the business died because neither of us could drive, so I told my brother to let me have one of the cars so that at least I would know that I have not wasted all the money, that peradventure I could dispose the car and use the money for something that I could always make reference to. At Abeokuta here while working as the Ogun State Correspondent for MITV, I met a man, Mr Akanni Taiwo now late, may God rest his soul, who proposed to buying the car while giving me two plots of land in return. One of us, Kunle Olayeni now with Olabisi Onabanjo University (OOU) Ago Iwoye is a living witness to this epoch-making incident. So, the man took us to where the land is and after showing us the two plots of land I asked if he has more land that I could buy and be paying on instalment, he said he had three acres, so I paid. My original intention of buying the land was to have something to fall back on. My wife was pregnant with our first daughter then, my calculation was that in the next six years my daughter would have been in school and I can always dispose off parts of the land to sponsor her education, I never knew I was buying my future, like I became a realtor by divine intervention.That was how Pelican Valley began. I started rejigging the land because of its topography until it becames what it is today.”
The University Of Lagos Graduate and Masters holder Said he doesn’t like to venture into Nigeria politics because of several factors surrounding it which might directly or indirectly affect ones integrity adding that One can always touch people’s lives without venturing into politics. ‘This is the reason behind the establishment of Oko Opo Foundation. I am willing, however, to serve my country in any capacity if it comes in the form of an appointment.”
He added that his passion for the less privileged was one of the reasons he established the OKO OPO FOUNDATION
“It is just my own little way of giving back to the society. It’s out of my personal conviction to build enduring institution. I don’t really need so much to survive, so I have passion for the less privileged. I have always told my children not to rely on my assets but that I will definitely give them that sound education that will make them stand shoulder high anywhere in the world, give them the platform to fly higher. If you fit into what we are doing in Pelican Valley, then you are free to continue from wherever I stop, but for you to now want to inherit the assets is a no. No for me because I believe that there is no amount of assets that you can inherit that will secure your future. So my emphasis is on building people and institutions that will stand the test of time. The rich goodwill we have garnered over the years in the real estate business has provided us with the springboard to take off with this noble idea.”
On how to Solve Housing Problems in Nigeria, Ambassador Adeyemo said “the bad economy is the major culprit here, once the economy is in shambles as it is now, the housing challenge which requires a bit of capital will suffer. The only thing government can afford to subsidise is land because land is technically said to be owned by the government and even at that, you will still have to pay or compensate the original owners and custodians of the land. Can the government subsidise the cost of the iron, the roofing sheets, cement, cost of labour? For example, if you want to build a standard three bedroom house, I mean those houses that will stand the test of time you will be talking of about N35m or N40m.”
“The government must fix the economy and also ensure that we have the right people at the helm of affairs to ensure that resources for each sector are not diverted or stolen. Look at the fantastic job the Registrar of Joint Admission and Matriculation Board (JAMB), Prof Isiaq Oloyede is doing. Who will ever believe JAMB could be making as much as N8billion, N9billion, so we have to tackle corruption upfront in the country if we ever care to make any meaningful progress. There was a time I was having some amount of money in my account, I used everything to provide electricity for all our estates and up till date I have not charged the people for anything. I could have spent the money as it pleases me because the people only bought the land which I have given them but I thought that I could add further value to their lives and my business. Today, if I want to embark on such projects, I will be talking of over half a billion naira. So, President Bola Ahmed Tinubu should really be ready to fight corruption and work with people who are less greedy, it is the bane of our underdevelopment and outright stagnation.”
The CEO Pelican Valley also maintained that the commitment between him and his management team to always do things right and within the ambit of the laws were the reasons why Pelican Valley Nigeria limited has continued to be a leading Real Estate Firm with so many Diaspora customers and several awards received.
“We don’t bite more than what we can chew. Also, the leadership. We always want to do things right no matter how challenging and costly it is, and we always put first the comfort and safety of the investment of our clients. Sincerely, leadership and goodwill that we have built over time is the key. Unfortunately, many youth of nowadays don’t want to buy time at all. I remember one of them that God used me to pick up from the gutter about three years ago that nearly took the business over from me, a business I have been building for close to 15 years, It is that bad. They always act as if they will die the next day, likewise, our politicians… assuming I have the whole of Abeokuta to sell, I can do that today, get all the money, ride my G-Wagon Benz and still go broke later but if I decide to sell say three plots now, add value to it, wait for another five years to sell again, the properties would have appreciated the more by that time. I will definitely make more money and even buy five G-Wagons at a time to ride. That’s how things work in real estate.Time and patience are of the essence in real estate business. I am not always in a hurry to sell my properties. I am a value driven person. I am always scared of collecting money from people because delivery is very crucial for me. That is why we don’t advertise our lands in the media, you won’t hear us on radio, yes, you can see one or two of our billboards in some places and that is just to establish our presence, just to say that we are also existing.
“I intend bringing Dubai into Ogun State. It is not about building slums everywhere in the name of having estates, what goes into an estate is more than the building. What about the infrastructure like roads, electricity and the likes. Even sometimes it is difficult for some state governments to manage five estates due to the fact that it is a capital intensive business, and that’s why they usually give them to private developers most often. For instance, Pelican Valley used to be a very difficult terrain, it used to be a mountain as high as a four storey building but for seven good years, I was busy cutting the hill and landscaping it to different levels, in the whole of Southwest you can’t get a place like the Pelican Valley. Go to Pelican Valley and see things for yourself. After Pelican Valley, we moved to Pelican Brief, since we have been able to do something substantial in Pelican Valley which is like a mini estate. It is our success story there that we are now leveraging on to sell Pelican Brief, which is going to be a smart city. We also have Greenish Acres Farm Estate and Ecostay Apartments where we sell unusual houses too.”
“To Almighty Allah be the glory because I will just be sitting here and I will receive the call that they are coming to honour me, sometimes all the way from Ghana. It makes me feel fulfilled. Few days ago, after that of ECOWAS Youth Ambassador, the Yoruba Youth Assembly all the way from Osun State called to say they have another honour for me. I sincerely thank the Almighty God for everything. He concluded.
GTCO Launches “Take on Squad” Hackathon 3.0, Opens Call for Applications
Guaranty Trust Holding Company Plc (“GTCO” or the “Group”) has announced the launch of “Take on Squad” Hackathon 3.0, reaffirming its commitment to fostering innovation, empowering talent, and supporting the development of technology-driven solutions that address real-world challenges across Africa.
Now in its third edition, the Hackathon brings together developers, designers and entrepreneurs across Nigeria in a collaborative environment to build practical solutions across key sectors including financial services, healthcare, commerce and digital inclusion. Under the theme “Smart Systems: The Intelligent Economy,” participants are challenged to design and build intelligent, data-driven solutions that transform how communities engage with money.
Applications are now open, and interested teams can find full guidelines and registration details on the official portal at https://squadco.com/hackathon.
Speaking on the initiative, Eduophon Japhet, Managing Director of HabariPay, stated: “Today’s dynamic, digitally driven world demands continuous innovation, which is shaping how economies grow, how businesses scale, and how societies evolve. Through “Take on Squad” Hackathon, we are deliberately investing in the ideas and talent that will define the future. Our objective is not simply to encourage innovation, but to enable its translation into scalable solutions that deliver real and measurable impact. This reflects GTCO’s role as a financial services platform that connects capital, capability, and creativity to drive sustainable progress.”
The social coding event remains a cornerstone of HabariPay’s mission to foster creativity and problem-solving among emerging tech talents. Competing teams will leverage Squad’s advanced APIs to create scalable digital tools that address everyday challenges faced by businesses and individuals.
Through initiatives such as this, GTCO continues to position itself at the intersection of finance, technology and enterprise, actively shaping the future of digital transformation in Africa.
About HabariPay
HabariPay Ltd is the fintech subsidiary of Guaranty Trust Holding Company Plc (GTCO), one of the largest financial services institutions in Africa with direct and indirect investments in a network of operating entities located in 10 countries across Africa and the United Kingdom.
Licensed by the Central Bank of Nigeria (CBN), our goal is to support SMEs, micro merchants, large corporations and other fintechs (Tech Stars) with the tools they need to thrive in an evolving digital economy and expand beyond their current market reach. HabariPay’s solutions include Squad, a full-scale digital payments toolkit to make in-person and online payments simpler, HabariPay Storefront, an e-commerce website to facilitate online purchases, Value-Added Services to help merchants access cost-effective and flexible airtime and data bundles to run their businesses, as well as a switching infrastructure that enables tech-focused businesses to optimise cost and make transactions more efficient.
HabariPay’s contributions to Accelerating Digital Acceptance in Africa have not gone unnoticed–it received Mastercard’s Innovative Mobile Payment Solution Award at TIA 2022 for its innovative payment solution, SquadPOS.
About Squad
Squad is a complete digital payments solution that is reliable, secure, and affordable, making receiving in-person and online payments simpler and convenient.
Thousands of merchants currently leverage Squad’s payment solutions for their daily business operations. Squad’s current products and service offerings include SquadPOS, Squad Payment Links, Squad Virtual Accounts, USSD, and E-Commerce Storefront.
Find out more at www.squadco.com.
Electric 8-Seater Tula Moto Keke Enters Nigerian Market, Targets Higher Operator Earnings
LAGOS — A new electric-powered tricycle with an expanded passenger capacity has been introduced into Nigeria’s urban transport sector, offering operators a potentially more profitable and eco-friendly alternative to conventional petrol-driven “keke.”
The newly launched 8-seater electric tricycle, now available in Lagos with plans for nationwide distribution, features a dual-row seating arrangement capable of accommodating up to eight passengers per trip—significantly higher than the standard three-passenger configuration common across the country.
Promoters of the innovation say the increased capacity is designed to boost daily earnings for operators, particularly amid persistent fluctuations in fuel prices. By running entirely on electric power, the vehicle eliminates dependence on petrol, reducing operating costs and shielding drivers from fuel price volatility.
According to the distributors, the tricycle is equipped with a durable battery system capable of covering extended distances on a single charge, making it suitable for commercial operations across high-traffic routes, residential estates, campuses, and marketplaces.
“The concept is straightforward—enable drivers to earn more while spending less,” a company representative stated. “With higher passenger capacity and zero fuel requirements, operators can maximise each trip without the burden of daily fuel expenses.”
Beyond its cost-saving potential, the electric keke is also said to require less maintenance than traditional models, offering additional long-term savings. Its quieter and smoother operation is expected to enhance passenger comfort and overall commuting experience.
Industry analysts note that the introduction of electric mobility solutions reflects a growing shift toward cleaner and more sustainable transportation alternatives in Nigeria, particularly in densely populated urban centres such as Lagos.
The distributors added that the product is currently available under a limited promotional offer, with delivery options across the country.
For inquiries and purchase: 📞 08153432071
📞 08035889103
Office Address:
📍 Plot 9, Block 113, Beulah Plaza,
Lekki–Epe Expressway,
Lekki Phase 1, Lagos
As transportation costs continue to rise and environmental concerns gain prominence, innovations like the electric 8-seater keke may signal an emerging transition toward more efficient and sustainable mobility solutions nationwide.
Business
A Pipeline, a Licence, and a Storm Brewing: Corruption allegations Draw global oil giant, Shell, Into Nigeria’s Reform Test
*A Pipeline, a Licence, and a Storm Brewing: Corruption allegations Draw global oil giant, Shell, Into Nigeria’s Reform Test*
By Deji Johnson and Mustapha Bello
t begins with a pipeline that should have been completed by June 2026. It widens into a regulatory dispute. And it now risks becoming a defining test of Nigeria’s gas reforms under President Bola Ahmed Tinubu.
At the center is a stalled 80 kilometre gas pipeline from Sagamu to Ibadan, a project backed by over 100 million dollars in investment and built on a protected Gas Distribution Licence issued under the Petroleum Industry Act 2021. The licence granted NGML–NIPCO exclusive rights to distribute gas within Ibadan for 25years based on Nigeria’s Petroleum Industry Act.
On paper, the law is clear. On the ground, the situation is anything but.
For more than three months, construction has been halted following a stop work order issued by the Oyo State Government led by former Shell Contractor and engineer, Governor Seyi Makinde. No detailed public justification has been provided that aligns with existing federal approvals already secured for the project.
What might have remained a quiet regulatory disagreement has now escalated into something far more politically charged. How?
In recent remarks, Nigeria’s Minister of the Federal Capital Territory, Nyesom Wike, who is of the same political party as Governor Seyi Makinde, made a pointed allegation that has since rippled across political and industry circles. He suggested that the Governor of Oyo State and Shell were in what could be described as an “unholy alliance.”
It is a serious claim. One that, if substantiated, would raise profound questions about the intersection of corporate influence, state level action, and federal law.
Neither Shell nor the Oyo State Government has publicly responded in detail to the allegation.
But the silence is now part of the story.
*THE SHELL QUESTION*
For Shell, this moment carries particular weight.
The company has operated in Nigeria for decades, building one of its most significant global portfolios in the Niger Delta. But that history is not without controversy. From corruption claims to environmental damage claims and community disputes amongst others, Shell has faced years of litigation and, in several high profile cases, adverse rulings tied to its operations in the region.
Those cases, many adjudicated in foreign courts, have shaped a negative reputation that continues to follow the company.
Now, a new question emerges.
Is Shell once again operating at the edge of Nigeria’s regulatory framework seeking to exert undue influence in circumventing Nigeria’s petroleum laws, or firmly within it?
Industry sources including a widely reported meeting between their representatives, Oyo State Government representatives and the newly appointed midstream and downstream chief executive, indicate that engagements involving Shell and the Nigerian Midstream and Downstream Petroleum Regulatory Authority could enable the company to enter a gas distribution zone already licensed to another operator in breach of the PIA.
If true, the implications are immediate and far reaching.
A licence meant to protect investors and investments in Nigeria’s gas space ceases to be exclusive against the dictates of the guiding laws. A framework begins to look flexible, and a reform risks appearing reversible.
To many, it seems more than just a commercial dispute and is not just about one company versus another.
Nigeria is in the middle of an energy transition where gas is expected to play a central role in powering industries, stabilising electricity supply, and reducing reliance on expensive diesel. President Bola Tinubu has emerged as a global champion of using gas as a transition fuel in Nigeria and Africa whilst rolling out elaborate but clearly defined plans to achieve it. Yet gas availability remains inconsistent, constraining power generation and limiting industrial output.
Projects like the Sagamu to Ibadan pipeline are designed to close that gap. To halt such a project is to delay not just infrastructure, but impact. To undermine its legal basis is to question the system that enabled it and to introduce competing claims within the same licensed zone is to risk regulatory confusion at a time when clarity is most needed.
This is where the issue moves from commercial to national because at stake is not only an investment, but the credibility of the reform architecture itself.
*OYO STATE AND THE FEDERAL QUESTION*
The role of the Oyo State Government adds another layer of complexity.
Energy regulation in Nigeria, particularly in the gas sector, is governed by federal law. Yet implementation often intersects with state authority, creating spaces where jurisdiction can blur.
The stop work order issued on the pipeline has become the clearest manifestation of that tension. Was it a regulatory necessity?
A precautionary measure? Or, as alleged by Minister Wike, part of a broader alignment with external interests? Without transparency, speculation fills the vacuum and the regulator must avoid finding itself mired in such allegations.
*QUESTIONS THAT WILL NOT GO AWAY*
For Shell, the questions are now direct and unavoidable:
Is Shell, a global energy giant, seeking to operate within the Ibadan gas distribution zone already licensed to NGML–NIPCO?
What assurances, if any, has it received from regulators or state actors?
How does it reconcile such actions with the exclusivity provisions of the PIA?
For the regulator, NMDPRA:
Can a Gas Distribution Licence be effectively shared, diluted, or overridden after issuance? According to Nigerian laws, the answer is No.
What precedent does this set for Nigeria’s gas infrastructure market?
For the Oyo State Government:
On what legal grounds does the stop work order stand, given federal approvals already in place?
And how does this action align with national energy priorities or the state’s gas needs?
Nigeria has spent the last two years telling a new story to the world. A story of reform, of discipline, of a country ready to compete for global capital. And it has worked so far with stability returning to Nigeria’s economy and over $20bn of energy investments looking to enter the country in the short to midterm.
But reforms are not tested in policy papers. They are tested in moments like this.
Moments where law meets influence, investment meets interference and promise meets pressure.
For Shell, long mired in issues surrounding ethical operations in Nigeria, this is more than a business decision. It is a reputational crossroads.
For Nigeria, it is something even larger. Whether the country’s laws will hold when they are most challenged or Whether its reforms will stand when they are most inconvenient or even whether Nigeria’s energy investments future will be shaped by the rules of law, adherence to regulatory protections and provisions or by unethical and corrupt relationships.
Until those questions are answered clearly, publicly, and decisively, the pipeline in Ibadan will remain more than steel in the ground.
It will remain a symbol of a country still deciding which path it truly intends to follow. Nigeria must act quickly and decisively because the world is watching.
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