The Company was first formed in September 1962 with a share capital of 10,000 pounds. It was then a wholly owned subsidiary of the defunct National Bank of Nigeria Limited and called Nabani Estates. In October of the same year, the Bank sold its shareholdings for 1,231,000 pounds to the Western Nigerian Marketing Board at Ibadan and the name of the Company was changed to Wemabod Estates Limited.
Wemabod Estates has grown considerably since its inception in 1962, as Nabani Estates (the original company) then owned only eight properties all of which were in Lagos and Apapa. However, the properties portfolio was soon expanded when other developments, including the impressive Cocoa House, Ibadan, were bought from the National Investment Company (NIPC) by the Western Nigeria Marketing Board and later transferred to Wemabod. A further bonus acquired from the same source was the 8 ‘A’ Shares of 1 pound each and 4,992 Ordinary Shares of 1 pound each; in the Lapal Property Company Limited which gave Wemabod effective ownership.
Since then other useful and valuable properties and assets have steadily accumulated, including West African Pictures Limited with its chain of cinemas in September 1987.
To be at the commanding heights of real estate business in Nigeria.
To provide first class customer focused real estate services,geared towards consistent growth and maximum returns to our shareholder.
OUR SHARED VALUES
- Commitment to Excellence
- Customer Focus
- Respect for Time
- Passion for what we do
- Team work