Chariot Development Limited: Lagos Registry Record, Directors and Delivery Dates

Chariot Development Limited has finished buildings and handed them over. Its own project pages date the Heritage Gardens apartments in Lekki Phase 1 to a July 2024 completion after a start in August 2020, and date BAA Court, an eight unit terrace scheme in Oniru Royal Estate, to December 2023. Two other schemes, Enclave and The Loft, are listed as past work. That is a delivery record, and it is more than many Lagos companies of similar size put in public. What the company does not publish is the paperwork a careful buyer would want beside it: a registration number, the title documents behind the Oniru plots, and a clear statement of which legal entity signs the contract.

This piece sets out what the public record shows about the company, who runs it, and the specific documents worth asking for before money moves.

The registered entity

The company appears in Nigerian corporate records as CHARIOT DEVELOPMENT LIMITED, RC-766602, a private company limited by shares incorporated on 18 August 2008. The registered address on that record is Plot 1697A Karimu Kotun Street, Victoria Island, Lagos. Issued share capital is listed as 1,000,000 naira across two shares. Two directors are named: Akinbolagbe Akinlolu and Akinbolagbe Olumuyiwa.

Those details come from B2BHint, a commercial aggregator that republishes Corporate Affairs Commission data rather than the CAC itself. The same record carries a status field reading "Inactive" and a note that the entry was last refreshed roughly two years before this review. A status field on a third party mirror is not a determination by the regulator, and stale mirrors are common. The authoritative check is a search on the CAC's own public portal against RC-766602, which will also show whether annual returns are current. Anyone signing a contract should run that search rather than rely on any secondary listing, including this one.

Two other details are worth holding together. The company's own website gives its office as 2/4 Akinbolagbe Street, Victoria Island, which is a different address from the one on the registry record. Different trading and registered addresses are ordinary and not in themselves a problem, but the address on a sale agreement should match an address the buyer can verify. And the chairman's published profile dates the founding of Chariot Group to 2005, three years before the company itself was incorporated. Group brands often predate the specific companies inside them. The point for a buyer is that a group name is not a legal person. The contract is with an RC number.

Who runs it

Chariot Development Limited publishes a named management list, which is not universal among Lagos developers and makes verification easier.

Otunba Olumuyiwa Akinbolagbe is listed as founder and chairman. His profile on the company site records a 1993 degree in computer science with economics from Obafemi Awolowo University, Ile-Ife, the co-founding of Infinity Investment in 1994 in commodity trading and cocoa and timber export, and a period from 1999 as managing director and chief executive of Microtrend Nigeria Limited. It further states that he served as a director of National Bank of Nigeria through its merger with Wema Bank, and as a director at Petroworks. He is named as president of the Chariot Hope Foundation, founded in 2008, and holds the chieftaincy titles Otunba Arowosafe of Epe and Otun Oba of Ilesa. Those career claims are the company's own account of its chairman and have not been checked here against bank filings or company records.

Akinlolu Akinbolagbe is listed as managing director. The registry entry for RC-766602 names both an Akinbolagbe Akinlolu and an Akinbolagbe Olumuyiwa as directors, so the two most senior names on the website match the two names on the corporate record. That correspondence is the single most useful verification fact in this profile. When a site's leadership page and a registry filing name the same people, a buyer can be reasonably confident about who controls the company.

The rest of the published team includes Engr Temitope Ishola as director of engineering and technical services, Toluwalope Eluwole as head of human resources, Tope Akinsola in design and architecture, Justina Adeoye as sales manager, Chibueze Obodo as facility manager, Arinze Obasi as assistant facility manager, and Alfred Sunday as IT manager and public relations officer.

No parent company, institutional investor, bank facility, main contractor or architect of record is named anywhere on the company's public pages. That is an absence of published information, not evidence that no such relationships exist.

Announced against built

The current Chariot Development Limited project list names Heritage Gardens in Lekki Phase 1, one and two bedroom apartments of about 1,500 square feet quoted at 150 million and 200 million naira, with a stated construction window of August 2020 to July 2024. BAA Court in Oniru Royal Estate is described as eight four bedroom semi detached terraces with a one bedroom quarters, completed in December 2023, quoted at 600 million naira outright, with one unit remaining at the time of writing. The Aspire, two and three bedroom apartments in Oniru Royale, is listed without a completion date. Enclave, a three bedroom scheme, is marked sold out. The Loft and Festival Point appear as earlier work with no dates attached.

Estate Intel's project directory carries a separate entry for Heritage Gardens, Lekki Phase 1, naming the company as developer, added in August 2022. Most of that entry's specifications sit behind a subscription, so it corroborates the developer attribution and little else.

A roughly four year build for a completed apartment scheme in Lekki Phase 1 is a real result in a market where off plan timelines slip badly. It also means a buyer today is being asked about The Aspire, which carries no published start or delivery date at all. That is the gap to close before paying.

What to ask for

For any Lagos purchase, and specifically for the Oniru schemes, three documents settle most of the risk.

First, the root of title. Oniru land has a particular history and the question is always which instrument the developer holds. Ask for the certificate of occupancy or the deed of assignment with the chain behind it, then confirm it at the Lagos State Lands Bureau. Our step by step guide to perfecting title in Lagos sets out the sequence.

Second, governor's consent. Section 22 of the Land Use Act 1978 requires the Governor's consent before the holder of a statutory right of occupancy alienates it by assignment, mortgage, transfer of possession or sublease. A transaction without it is defective. Ask whether consent has been obtained for the specific unit being sold, not for the estate in general.

Third, the building approval for the specific block, and a sale agreement naming the registered company with RC-766602 written on it. If the counterparty on the contract is a different entity, ask why, and get that entity's RC number too.

Bektu keeps a page for this developer alongside records for other developers, which is a starting point for checking what a company has actually handed over rather than what it has announced. The wider context for this part of the market is covered in our guide to developers active in Lekki Phase 1 and our review of new homes and prices in Victoria Island.

Chariot Development Limited comes out of this review as a company with a named board that matches its registry entry, completed buildings with dates attached, and a published price list. The open items are documentary rather than reputational: no RC number on its own site, no title or approval information published for the Oniru schemes, and no delivery date for the project it is currently selling. Those are answerable questions. Ask them in writing.