LETTER OF INTRODUCTION

FHT Ventures, Plc (Promoters of Blue Royal Sites & Services) is a Multi-disciplinary Group of Consultants and Developers base in the FCT Abuja.  We have a well designed drawn out Mortgage Based Housing Scheme for civil servants and the general public alike.

Our Services:
1. Prime sites at various locations within the Federal Capital Territory that will be developed into housing units for Civil Servants and the General Public.

2. Various types of single-family detached and semi-detached housing design to choose from.


3. Our design includes 2, 3, 4 and 5 bedrooms bungalows and duplexes to choose from.

4. Low monthly payments on all mortgage loans.


5. Our Overseas Professional Technical Partners will provide state-of-the-art designs that meet international standards.

6. We provide all infrastructures in all estates and satellite towns for conveniences of our beneficiaries.

7. Our goal is to provide Affordable and Decent houses for all income earners.


8. We enjoin your members to subscribe to this scheme and in matter of a few months they will have their keys to their houses in their hand. Early subscription will afford you the opportunity to enjoy some special privileges.


9. An arrangement has been concluded in Partnership with Banks to assist the members of your Staff with the Land Commitment Fees within 12 Months.  Attached is the letter from Intercontinental Bank.

The locations of our building sites within F.C.T are as follows:

(a) KADO-KUCHI(Opposite PHCN Housing Estate)

(b) LIFE CAMP(Gwarimpa- Kafe)


(c) GALADIMAWA( Opppsite Sun- Valle Homes)

(d) GALADIMAWA(Opposite Sun-City Housing Estate)

And suburb sites are:  Mararaba, New Karu and Masaka. Thus more Sites are being negotiated with the Services providers, you will be informed accordingly.

Our mortgage based program is in line with other programs in other developed countries like the UK, Canada and the United States of America with a fixed single digit interest rate of 6%.  A one-time mortgage commitment fee of between Three Hundred Thousand to Three Million Naira (depending on the design of house chosen by a beneficiary) is required at the early stage of our program as a sign of commitment prior to commencement of building the house.
For further details and more enquiries on this, please call the Executive Chairman, Prince O. A. Adewa-Faboro on the following numbers: 08039206743; 08023445403; 08056921117.
We sincerely thank you for taking time out of your busy schedules and humbly await your response.

Yours faithfully,


Prince O. A. Adewa-Faboro
Executive Chairman
FHT Ventures Plc

This is a briliant idea.
The down side is the involvement of foreign partners on the design which will attract foreign exchange and eventually the overall cost.
I am sure this is not a part of the Wonder Bank arrangement,because a''A one-time mortgage commitment fee of between Three Hundred Thousand to Three Million Naira (depending on the design of house chosen by a beneficiary) is required at the early stage of our program as a sign of commitment prior to commencement of building the house'' scarced me.
I wish you the best as i hold on my breath to my hard earned £.

@Brownbonno,

You have nothing to be scared of. The prices of our houses are very cheap compared to that of other major developers in Abuja, and there is no need to exercise fear over price rises. The prices we offer you on your property today is what you pay, on a simple interest of 6% payable between 10 to 30 yrs.

Concerning the commitment fee, the prices are fixed as well but is dependent on area. As you may or may not know, the price of a property in Abuja depends on the location.

this is how the commitment fee works,

Masaka area commitment fee is N100,000

New Karu (Satelite town) N300,000

Kado (city centre) N1,500,000

There are more areas, and the commitment fee differs as well but the price of the property is the same. Please feel free to ask any further questions

Thanks for your explanations.But my concern still remain with my original comment.
The Nigeria factor of catching one into the deal make the scenario mucky.
Firstly,Your commitment fees is tied to the location and not the property.
Secondly,the commitment fee is an advance payment that is not deductable from the entire price of the property.
Logically,if a mortage is going to be secured on the property,what you should possibly ask for should a deposit and not an unrefundable commitment fees.
I am sure the spirit of 419  will linger for a long time in the mind of Nigerians.
Please try and redesign your strategy and let some of us interested in investing in Nigeria to be encouraged.
Thanks any way for your efforts.

Dear Prince,

Is committement fee the new name for 419?

I am sure the FHT Ventures Plc is a registered business entity.And if the terms of trade are unfavourable to her customers a body is suppose to intervene.Like in the UK we have the OFT(Office of Fair trade).If such organ exist in Nigeria they should help to regulate these mucky business initiatives.
Commitment fees as the name implies is an advance fees and it should be looking at within the Advance fees acts(decree)419.
Since the OP did not mention that this fees is deductable or regarded as a deposit.Then the equation is easy and balanced to a 419 scam.
EFCC should investigate to avoid further damage of Nigerians image among Nigerians.

@Blueroyal

Saw your company flyers during the week and spoke to one of your marketing officers and would need clarification on a couple of unanswered questions.
1. Do you have structures on ground anywhere in Abuja? if no, how do interested know the structure or property quality before they commit to the 1.5M land commitment fee?
2. I was told i would have to pay 2.5M for the kafe land if i intend to build on my own. Would i have to build to your specifications or plan?
3. Your structures i hear would be prefabriacted.What kind of prefabricated materials would be used.
Kindly also put up your office address on the forum.
Thanks

@all,
sincere apologies for not replying to your comments earlier than now.

@Brownbonno,
i think it would be better for you to contact us on our phone numbers so we could make some issues clearer to you.
Im very sure we have never mentioned the words "non-inclusive and unrefundable" as regards the commitment fee. Local banks are constantly contacting us offering to pay the commitment fees  if our subscribers do not have it, im sure they did thier homework before partnering with us.

Terminologies seem to be the source of confusion here, the commitment fee is more or less a deposit/ part-payment or rather land cost for the chosen property, it is inclusive of the total amount you are paying for any of our properties.

For example, a 2 bedroom flat at Kado-Kuchi:Toal would be 4Million naira
commitment fee: 1.5M (loan can offered by Intercontinental bank)
Property price : 2.5M  (Up to 30 yrs by mortgage)
On an average, a 2 bedroom flat from our competitors can be up to 6.8million in the same areas

Since you are familiar with mortgages in the UK, then consider our commitment fee as the 10-30% down payment you are normally  required to make when purchasing a property on mortgage in the UK. But then consider the fact that housing in Nigeria is quite different from western countries, here are normally required to buy land and build on your own.

@lilian10,
i am glad you have already spoken to one one of our marketers. please send us your name and phone number by email and we would give you a call to clarify all issues.
Our head office is at No8b Amurie Omanzie Street,by old CBN, Garki 2 Abuja. phone numbers 09-7802886,09-7803121
Wuse office: Suite 15, kaku plaza,kikuyu close, Near AMAL court, Wuse 2 Abuja
Email:  fhtventuresplc@yahoo.com, info@blueroyalsites.com
Website: www.blueroyalsites.com

Hi
Are you a developer or a broker ?
If you are a developer,get a better deal from your financiers that will make your estate business a success.In the example you gave,you requesting 1.5m as a commitment fees(ie 37.5 % of the mortgage sum).
If your a broker,i think you need a better understanding of terminology and translations in advertising.Otherwise you may not be able communicate effectively with your audience.
I hope you get a better deal(clear and transparent)

@brownbonno.
Thanks for your prudent advise Sir. I see that you have calculated the percentage of the commitment fee of the 2 Bedroom on the total price of the property and you have arrived at about 37%. However, be aware that 1.5m is not 37% the total price of the other housing units. i.e. # Bedroom- 5 Bedroom.
we arrived at this price because we wanted a uniform commitment fee for properties within Abuja metropolis irrespective of size and total price. Thank you

I wish you the best in your business.I may patronise you if you can send me details of your locations.

Good day Mr Blue royal.

I am interested in your properties, especailly in Kado,

But what are your mortgage arrangements?

I am a civil servant contibuting to National Housing fund, wil i be covered by the NHF facility

for your estate.

Secondly the 1.5m coittment fee. You were saying that Intercontinnetal Bank can provide the Money. Plz can you explain further the payment details by the Bnak, and how long can I pay back the bank loan e.g like 24 months or 5yrs etc.

Also wat if i hav 1 Million can i still be eligible for the commitment fee?

plz i will like to know more.

cheers. waiting 4 your reply/

@Blue Royal,

I am interested in your property in Abuja. However, I will like to find out when the properties will be ready (estimated date of completion) for each development in Abuja.

@blueroyal

I'm really interested but i want to know what qualifies one for the mortgage facility. Also, how do u intend to raise money to fund the projects and then give it out at a single digit interest rate over a period of 10 to 30 yrs?

Is there any job opportunity with your company? I am interested.

Any luck with that site?

or the company don expire as usual?

Please can someone confirm if this advert about own a Home in Abuja is still current and existing?

Fello Nigerians,

Please read the facts below - concerning Prince O. A. Adewa-Faboro Executive Chairman FHT Ventures Plc.  The man has been a 419/fraudstar all his life.  He was detained at Alagbon Police Station in 1995 for defrauding lots of people.  He always claimed knowing former EFCC Chairman, Nuhu Ribadu, Governor of Ekiti State - Engr. Segun Oni, some Police Officers including Commissioner of Police FTC at his beck and call and powerful people at the corridor of government in Abuja because they were in his payrolls and claimed to be untouchable.  He claimed to be the next person to the throne of Olojudo of Ido-Ekiti in Ekiti State but thank God, another Faboro was installed as Olojudo of Ido-Ekiti.  Many thanks to Mrs. Farida Waziri - Chairman EFCC.  He should be charged to Court and sentence accordingly to serve as an example to others.


EFCC ARRESTS PRINCE ADE FABORO FOR DUPING ARMY GENERAL AND MANY OTHERS OF N650 MILLION IN ABUJA LARGEST LAND SCAM

EVERY DAY FOR THE THIEF, BUT ONE DAY FOR THE OWNER OF THE HOUSE, SO SAYS A POPULAR NIGERIAN PARLANCE.
THAT IS THE STORY OF POPULAR ABUJA BIG BOY. PRINCE OLUBUNMI ADE FABORO. WHO LIVED A LIFE OF CRIME .

UP UNTIL HIS ARREST BY THE EFCC, PRINCE FABORO HAD BEEN A SUCCESSFUL FRAUDSTER. SOURCES SAY, HE HAD OFTEN BOASTED OF HIS CONNECTIONS IN THE HIGHEST ECHELONS OF POWER , OF HIS GODFATHERS IN GOVERNMENT. ALAS, WHEN HIS CUP BECAME FULL IT PROVED, HE WAS JUST ANY PETTY TRICKSTER WITH A SWEET TONGUE WHO USED FALSE APPEARANCES TO BE A MASTER OF HIS ART.

WHILST HE REIGNED IN THE FEDERAL CAPITAL TERRITORY, ABUJA, THE EASIEST AND BEST PLACE IN THE WORLD TO PEDDLE CONNECTIONS, HE HAD THE BEST OF CARS, AND WAS SEEN WITH THE BEST GIRLS. HE WAS ALWAYS VERY EXPENSIVELY DRESSED AND SHOWED UP IN THE CAPITALS TOP WATERING HOLES, INCLUDING THE CAPITOL BAR AT NICON NUGA, HOTEL.

PRINCE FABORO BESTROOD ABUJA AS A HIGH STAKES PROPERTY DEVELOPER. HE HAD A BEAUTIFUL OFFICE AND HE SWEET TALKED PEOPLE INTO BELIEVING HE COULD BUY LAND AND BUILD HOUSES FOR PEOPLE IN BOTH ABUJA AND NASSARAWA STATE WHICH IS A STONE THROW AWAY FROM ABUJA. HE PERFECTED THIS SCHEME SO WELL, HE WAS ABLE, WITHOUT MUCH EFFORT TO COLLECT OVER N650 MILLION FROM HIS CLIENTS…VICTIMS, FOR CASTLES IN THE SKY.

THERE’S MORE, HIS LIST OF VICTIMS IS VERY IMPRESSIVE; IT INCLUDES A SERVING ARMY GENERAL(CAN YOU IMAGINE HIS BOLDNESS AND EFFONTERY),STAFF OF THE MINISTRY OF DEFENCE, A HANDFUL OF PARAMILITARY MEN, SOME ICPC STAFF, WHERE DID THEY GET ALL THAT MONEY?, STAFF OF HFI VENTURES,OPERATOR OF ABUJA GREEN TAXI AND MANY , MANY MORE,  SOME OF WHOM ARE STILL CRYING IN THEIR CLOSETS. PEOPLE LOST BETWEEN N25M AND N50 MILLION.

EFCC CHIEF SPOKESMAN, FEMI BABAFEMI, COMFIRMED HIS ARRESTS. AND WE CAN TELL YOU THAT PRINCE FABORO WILL BE CHARGED TO COURT PRETTY SOON.

FOR ALL HIS VICTIMS WHO ARE HOPING THAT HE WILL REFUND THERE MONEY, FORGET IT, I HEAR HE HAS SQUANDERED IT ALL ON ….HIGH LIVING.
HOW DO THEY SAY IT IN PORT HARCOURT…. MUGU FALL GUY MAN WACK…
Posted by nationalweekender at 7:13 AM 1 comments  Links to this post
Labels: ADE FABORO, EFCC 419, FARIDA WAZIRI, FEMI BABAFEMI, NIGERIAN SCAMMERS
HOUSING SCAM: FRAUDSTER SWINDLES ARMY GENERALS ---http://www.nigerianbestforum.com/index.php?topic=39028.0;prev_next=next
« on: September 03, 2009, 12:11:05 PM »
________________________________________
Housing Scam: Fraudster swindles army generals

Written by Boco Edet   
Economic and Financial Crimes Commission (EFCC) has arrested a suspected fraudster who duped top military officers including army generals, some staff of the Independent Corrupt Practices and Other Related Offences Commission (ICPC) and Abuja Leasing Company (ALC) of over N500m under the false pretence of providing houses for them.

A source withing the  EFCC said Olubunmi Faboro, a 54 year old business man from Ekiti state and Chief Executive Officer of Blue Royal Site Services claiming to specialise in estate development,  allegedly collected several millions from unsuspecting members of the public promising to build houses for them.

EFCC was alerted on the activities of Faboro when it was petitioned by five staff of the Abuja leasing company who alleged he collected N5m from them to provide a three bedroom bungalow.

Other petitions flooded the commission from ICPC and the Ministry of Defence alleging he received more than N300m from different individuals for the same purpose.

Operatives traced the suspect to Kuje prison where he was on remand on the orders of an FCT high court  where he is being tried for a similar offence. The EFCC  took him into custody for questioning.

Investigations so far have revealed the suspect cannot account for monies he collected from victims and he does not own any land in Abuja or Nassarawa as claimed.

His 419 website is no longer functioning and same with his company address.  His last know phone numbers are: 08023445403, 08056921117, 08039206743, +971508560377.  He is found of changing telephone lines at will but one of his sister line is: 08033051077.

NIGERIAN PEOPLE SHOULD BEWARE!!!

His 419 website is no longer functioning and same with his company address.  His last known phone numbers are: 08023445403, 08056921117, 08039206743, +971508560377.  He is found of changing telephone lines at will but one of his sister line is: 08033051077.

NIGERIAN PEOPLE SHOULD BEWARE!!!

Na real WA o!!

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