The building which was under construction was said to have collpased following a thunder strike.
Officials of the Lagos State Building Control Agency (LASBCA) have sealed the building.
Asimiyu Tiamiyu, a volunteer with the Nigerian Security and Civil Defence Corp (NSCDC) in Ajeromi Ifelodun LCDA, said no casualty was recorded in the incident.
He said there were no workers present at the scene of the incident, adding that the state government must beam a searchlight on the recurring incident of building collapse in the state.
The incident comes barely 10 days after a seven-storey building collapsed in the Banana Island area of the state.
Gbenga Omotoso, commissioner for information and strategy, confirmed that one body was recovered from the rubble of the collapsed building.
