30th December, 2023

FIBOS REALTY LTD.

No. 1A, T. F. Kuboye Marwa,
Phase 1, Lagos State.

ATTN: MR. FRANKLIN OGBENE.

Dear Sir,

RE: TEN (10) ACRE LAND ALONG IGBODU/MOLAJOYE ROAD, EPE L.G.A LAGOS
STATE.

We act as Solicitors for Mrs. Eseoghene Jack and Mr. Sonaari Jack, our Clients, on
whose behalf we write this letter.

Please refer to the Contract of Sale whereby our Clients agreed to sell the above land to
you.

We were informed by our Clients that apart from breaching the payment schedule
contained in the Contract of Sale, you surreptitiously went behind them to obtain a Deed
of Assignment of the Ten (10) Acres of land directly from the Erelu/ Olowu Family, the
original Landowner.

We make the point that by going behind our Clients to obtain a Deed of Assignment
from the said Family you have both denied the title of Clients to the said land and set at
aside the clear provisions of the Contract of Sale where it is provided in sub-paragraph
vii that:

"That upon the full and final payment the PARTIES SHALL EXECUTE A DEED OF
ASSIGNMENT transmitting the entire interest of the VENDORS to the PURCHASER
whereupon the Purchaser shall HOLD the said ten (10) acres land and appurtenances
absolutely free from all encumbrance and to enjoy peaceful possession, easement,
rights."

The applicable principle of law is Nemo dat quod non habet (no one can give what they
do not have). What this means is that the Erelu/Olowu Family cannot, without our
Clients' permission, validly assign the said land to you, having earlier sold the same to
our Clients. Your getting the family to execute a Deed of Assignment of the Ten (10)
acres of land to you is therefore an exercise in futility. And it may interest you to know
that the Family has been informed of your of treachery.

Having failed to meet up with the payment schedule contained in the Contract of Sale
and going ahead to deny our Clients' title to the land, our Clients have no other option
but to forthwith terminate the Contract of Sale. In consideration of the N13.5M (Thirteen
Million, Five Hundred Naira) which you have so far paid to our Clients, you will be
allowed to retain ownership of Two (2) acres of the said land.
Take note that by going behind our Clients to obtain a Deed of Assignment from the
Erelu/Olowu Family, you have committed a criminal breach of trust punishable by law if
our Clients decide to press charges.

Yours faithfully,

Godwin Efemena Macaulay

Pp. G. E. F. Macaulay & Company.