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Home Business & Finance Business

Business owner alleges ₦3bn loss after Lagos property raid

Mariam Balogun by Mariam Balogun
July 2, 2026
in Business
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Man claims police officers accompanied by suspected thugs looted equipment worth more than ₦3 billion during a disputed operation, as authorities are yet to respond

A businessman has alleged that suspected thugs accompanied by some police officers forcefully entered his commercial property in Lagos, vandalised parts of the building and carted away equipment valued at more than ₦3 billion.

Also read: Breaking: NDLEA arrests businesswoman with cocaine, seizes N12.4bn cannabis

The businessman, whose identity was not disclosed in the statement circulating online, claimed the individuals involved carried out the operation while allegedly invoking the name of the Governor of Lagos State.

The allegation has not been independently verified, and there is no evidence that the governor authorised or had any connection with the incident.

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In an emotional account shared publicly, the businessman described the incident as devastating, saying years of investment had been wiped out.

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“My years of hard work has been ruined. Police officers alongside thugs using the name of the Lagos State Governor as cover to loot my business building. Everything I worked for over the years is gone,” he said.

He alleged that the items removed included more than 200 air conditioners, over 100 large-screen televisions, industrial freezers, refrigerators, conference chairs and tables, hotel equipment and musical instruments.

According to the businessman, the combined value of the missing property exceeds ₦3 billion.

The circumstances surrounding the alleged Lagos Property Raid remain unclear, and it is yet to be established whether the operation was connected to a court order, a law enforcement action or a private dispute.

As of the time of filing this report, the Nigeria Police Force had not publicly responded to the allegations, while the Lagos State Government had also not issued an official statement addressing the claims.

The allegations have generated widespread reactions on social media, with many users calling for an independent investigation to determine the facts surrounding the incident and establish whether any laws were violated.

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Legal experts note that where allegations involve law enforcement officers or claims of unlawful seizure of property, affected individuals may seek redress through the courts while oversight agencies investigate the conduct of those involved.

Also read: “We’re giving hope” Remi Tinubu encourages women to start Akara, roasted corn businesses (VIDEO)

This report will be updated if the Lagos State Government, the Nigeria Police Force or any other relevant authority issues an official response.

Mariam Balogun
Mariam Balogun

Mariam Balogun is a contributor to Freelanews.com, covering news, business, and public affairs.

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