<P> Soon thereafter, the project was acquired again with no consideration being paid to City Property Development Limited . The acquisition is currently being challenged in various courts, and there are Caveat Emptor warnings in place to warn prospective buyers that their investment could be at risk in future . There is also litigation pending in the UK and European courts regarding this matter . </P> <P> The subsequent developers were principally interested in maximising the yield of the land . Consequently, the land was filled in to create a banana shaped island, which is now a residential scheme rather than the commercial development originally envisaged . </P> <P> Banana Island, is an area of Ikoyi, Lagos, Nigeria, 8.6 kilometres east of Tafawa Balewa Square . Part of the Lagos Local Government Area of Eti - Osa in Central Lagos, it is known for its wealthy, multi-cultural community and has some of the most expensive real estate in Nigeria . Banana Island has one of the highest density of millionaires within its boundaries . </P> <P> Banana Island is a man - made island in Lagos State, Nigeria that is slightly curved in shape--like a banana . It is located in the Lagos Lagoon and is connected to Ikoyi Island by a dedicated road which is linked to the existing road network near Parkview Estate . The island was constructed by the Lebanese - Nigerian Chagoury Group in partnership with the Federal Ministry of Works and Housing and is considered to be on par with the Seventh Arrondissement in Paris, La Jolla in San Diego, and Tokyo's Shibuya and Roppongi neighbourhoods . </P>

Where is banana island located in lagos nigeria
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