NewStats: 3,265,338 , 8,186,438 topics. Date: Saturday, 14 June 2025 at 02:15 PM 6w6g52

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Treash:
A money lender is any person who lends money at interest or who lends money in consideration of a larger sum to another. The Law requires money lenders to obtain a moneylenders’ licence. Decisively, the law further criminalizes money lending business without license.

WHAT QUALIFIES A PERSON AS A MONEY LENDER IN LAW?

The court decided 2-3 condition precedents in holding that a person is a money lender.
1. The body is a business whose primary objective is
money lending.
2. The body holds itself as a money lender.
The mere fact
that a person gives out a loan with interest or in return for a higher amount does not make the person a money lender, unless the two conditions are fulfilled.

In Lagos, the Lagos State Money Lenders Law is the principal law which regulates money lending in the state and the authority responsible for issuing licenses is the Lagos State Ministry of Home Affairs and Tourism

REQUIREMENTS FOR MONEY LENDING IN LAGOS.
A potential investor is expected to incorporate a company before he can be granted a license to operate as money lender, and as such, must meet certain paper requirements which includes: Incorporation Documents, police clearance report of all directors, applicant banker's reference letter, 3 years Tax Clearance certificates of each director and so on. The police character certificate will state whether the director of the company has been convicted for any or not.

In the course of application, such investor is expected to apply to a Chief Magistrate for an Ordinance which will then proceed to Ministry for grant of license.

Upon satisfactory review of the above-listed documents, the officials of the Ministry will conduct a visit to the official address of the Applicant. Once the ministry is satisfied with all compliance, a license will be issued. The license issued is renewable every year.

It should be noted, that the court has power to review excessive loan interest. In an occasion, the court viewed that 50% interest per annum is high.

Treash:
PROBATE

Probate means a legal document which an Executor obtains after a Will has been read. A testator is someone who makes a Will before his death.

A testator may opt to deposit his Will to Probate registry either personally or through his lawyer. Whichever way, it is expedient to obtain an Acknowledgement Letter from the registry which indicates official proof of lodgement. Upon death, the family of the testator proceeds to the registry after 7 days through his solicitor, and apply for the Will to be read. But where there are uncertainty whether or not a Will is made, they can conduct search at the registry.

LETTER OF ISTRATION.

Whereas, a Letter of istration applies where there's no Will. A Letter of istration is a legal document obtained from a court by a Next-of-Kin to enable him/her have access to and ister the estate of a deceased. Where there is no Will, the next of kin applies to the registry for Letter of istration to manage the property of the deceased. The next of Kin is either appointed by the deceased in his lifetime or by family upon his death. The law provided for minimum of two next of kin and maximum of 4. The exemption to a 'sole next of kin', is where the applicant is the only spouse and the marriage was contracted under the Marriage Act. Usually, it is expected that a widow or widower should be the one to process a Letter of istration in respect of a deceased spouse’s estate. However, where the marriage was not conducted under the Marriage Act, then, the widow or widower will have to process the Letters of istration with one of his/her children thereby making it two Next-of-Kins.

If there are no children in the marriage and the marriage was not conducted under the Act, the deceased’s family can nominate a member of the family to be the second Next-of-Kin.

Two other circumstances where an individual could be allowed to apply as a sole Next-of-Kin are:

👉If such an individual has been introduced by the deceased person’s office as his/her Next-of-Kin as contained in the deceased’s Record of Service and;
👉If such a person can prove to the court that he/she is the only surviving relation of the deceased person.

REQUIREMENTS FOR GRANT OF LETTER OF ISTRATION.

Death Certificate: This is sole proof of the death of the deceased. Death certificate from a credible hospital should be produced. In practice, some state probate registries demand for death certificate from the National Population Commission.

Publication: This is a legal notice from the probate registry, informing the general public of the death of the deceased and that someone has approached the court to apply for Letter of istration. The notice runs for 21 days, and where there is no Caveat, the court grants the Letter of istration. But when caveat is raised, the court will suspend the grant.

What is Caveat?
A caveat is a legal notice lodged with the Probate Registry that prevents the grant of letters of istration or probate (depending on whether the deceased died with or without a will) to the proposed /executor until the issue raised in the caveat is resolved.

Barr. Adeolu Ayo Aderinto.

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Treash:
What is a Tenancy Agreement?

A Tenancy Agreement is a written contract between a Landlord and the Tenant which sets out the rights and obligations of both the Landlord and the Tenant when renting property in Nigeria. 

It is always advisable there is an existence of a tenancy agreement between a fresh tenant and his landlord. Both parties have implied rights whether with or no tenancy agreement. However, the tenancy law of each state in Nigeria expressly stated some guidelines for rights of each party; such as Rent Control and Recovery of Residential Premises Laws, and Tenancy Laws. For example, in lieu of express agreement between the parties, Tenancy Law of Lagos State provides for guidelines and time frame for evicting a lawful Tenant. However, this Law does not cover areas like Victoria Island, Ikeja GRA, Apapa and Ikoyi. It does not cover residential area meant for students accommodation, rehabilitative center or hospitals. It strictly applies to Residential buildings.

Mostly, some tenants and long term leasees pay for Agreement and Commission without being handled the copy of the said tenancy agreement, except payment receipt. The Tenant being a party has the unfettered right to review the of the Tenancy Agreement to determine whether or not the Agreement protects his interests. The agreement is mostly prepared by the landlord or his legal representative.

What consists of a Tenancy Agreement?

1. The names and addresses of each party.
2. The description of the subject matter.
3. The amount paid by the tenant.
4. The of tenancy; that is the duration. This could be yearly, quarterly, weekly or monthly. For example 1st of July 2025 - 30th June, 2026.
5. Other provisions for service charges, rates and outgoings.
6. Obligations of both parties.
7. Provision for alternative dispute resolution.

Adeolu Ayo Aderinto, Esq.
Real Estate Practitioner

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We are legal practitioners that offer clients the best real estate deals, minimizing the risks and maximizing the return on investment.

We are majorly into
1. Property Management to wit-
👉Residential property management,
👉Commercial property management,
👉Industrial property management, and
👉Special purpose property management.

2. We offer search services through which authenticity of land are verified at the registry or physical inspection.

3. We assist in preparation and perfection of land title such as Deed of Assignment, Lease agreement and Power of Attorney.

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We are still in the business of:


Management of Properties.
Verification of land titles.
Registration of title documents.
Legal Documentation.
Facilitation of Probate & Letters of istration.
Acquisition and disposal of properties.

Barr Ayo Aderinto,
08068088866.

Still in business

Every land in Nigeria is subject to governor's trust, except in rural environment. Most pple unconsciously build homes, edifice and permanent structures on lands subject to government acquisition. The effect of this leads to subsequent demolition notice by the government without Compensation after many years, then shocks and depression set in. The question is, are the government justified in refusing compensation? Yes. That is why you need to the true title of the properties, whether land, estates or companies you are buying or us. Many properties are on sale because they are on lands subject to acquisition. Land victims of such will always exist, but you are to decide whether to them or not. your lawyer in carrying necessary due diligence and closing the deal.

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Yinabim:
Hello Everyone,

I am writing here for the first time, i don't know how to feel about this because i a very private person but since the death of my husband i had to wake up everyday to sadness. I never knew the extent of pain people feel when they lose their loved ones until now. I cant even concentrate on anything else and his family are making things difficult for themselves already.

I'm so young and with a 2 year old daughter, i just hope God help me scale through this storm. I'll come here to update this page as things unfold.

The story
My husband is a very kind man, he is way older than I am because he was a divorcee , ultimately he loved God and was very prayerful, I’ve known him for over seven years but we got married 4years ago and legalized the marriage in 2022.
He has 5 children plus my two years old makes 6, tbh my husband is a very wonderful man and I doubt if men like him still exist. He holds my hands in middle of the night praying for me and my baby, he loved me sincerely. He met me in 100level and waited till I finished school. Anyways after I had a baby he said he wanted me to go to Canada to further my studies. I didn’t want to go because I was thinking of how he would cope without me, he promised to come every quarter and assured me it was for the best.

I left Nigeria in 2023 (April) , his last visit was January 2024, he was preparing to come again in September, however, I got the news of his death July 17th 2024. My whole world came crashing. I didn’t believe it, why did God give me such a wonderful man only to take him away from me suddenly.

For clarity purpose, it’s important to state that he has six children including mine

First child (female) married and resides in Australia
My husband told me that her mother (woman A) had walked out of the marriage because he was poor, saying “she wouldn’t sit down with him in poverty” . They never had a legal marriage. So Woman A left to marry another man.


Woman B, legally married him had four children (two males and two females), I didn’t hear her side of the story and out of respect for her, I’ll just say irreconcilable differences, he decided he couldn’t move on with her and he divorced her. He however left her in their matrimonial house and left her with the water factory which she was running, although he didn’t hand over the documents


I am woman C.

I came home for the funeral, but before I could make it home , Woman A’s daughter has gotten home, gone to my matrimonial home and cleared all documents.

Please note that , no one ever lived with my husband and I in the house apart from my younger brother, Woman A daughter has also never visited the house.

My husband was into properties and he has two schools also (primary and secondary in different locations) .
Durning my stay in Nigeria, Woman A’s daughter (lady A) has conducted herself like a kind person , although I saw red flags but in my state of grief I didn’t think much about them, from Fighting for my husband’s phones , to taking away his SUV, changing security guards at the gate etc. I honestly didn’t see her as a greedy person.

I came back to Canada that same week, she already brought in some lawyers who will handle letter of istration and help oversee estate matters. Myself and all the children were on the same page till lady A said she wanted to be the sole signatory to the schools .

I disagreed and suggested that three of us (myself, Lady A and one of woman B children) should sign concurrently alongside on all transactions.

Lady A was so adamant about the signatory issue that she started to throw shades and subtle insults , I stood my ground and it took her lawyer’s intervention before she agreed. Since then I have become lady As enemy.

Guess what?
Lady A in recent development had instructed the security that no one should enter into my matrimonial home without her permission, I sent my brother there on two occasions and he was denied access, I can’t imagine seeking the permission of lady A who is in Australia in her husbands house before entering my own husbands house, a place she has never lived in or visited!! I don’t want this to lead to legal suits here and there, but these people are not so gentle and peaceful, I paid my dues in that house it was uncompleted when I married my husband and I contributed in my own way.
I am not greedy and I’m willing to meet everyone in middle but Nigerians are so terrible, she is in Australia and she knows no one can do these nonsense abroad but they take advantage of gentility.

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Obafisenco:
do you do deed of assignment ?

Yes we do

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Treash:
We are still in the business of:

Verification of titles and due diligence.
istration & management of Properties.
Registration of title documents.
Legal Documentation.
Facilitation of Probate & Letters of istration.
Acquisition and disposal of properties.

Barr Ayo Aderinto,
08068088866.

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Congratulations to them. I'm certain a lot of Nigerians would have loved to attend but the cost is unaffordable. If the Invites alone to an earthly wedding of a mortal being is 10M, now imagine the invites to the glorious wedding of a Bridegroom in Heaven. The marriage supper of the lamb is without a charge. Just buy without money the oil which will qualify you to enter HIS presence. Isaiah 55:1.