JonahCapital Takes Nigeria To ICC Over $500m Abuja Land

Sir Sam Jonah, a Ghanaian businessman and owner of Sir Jonah's investment group, has filed a dispute against the Nigerian government at the International Chamber of Commerce (ICC) in Paris. The dispute centers around a 501-hectare piece of land in Abuja, valued at approximately $500 million. The land, known as River Park Estate, was developed by JonahCapital Nigeria Limited and is one of Abuja's largest private estates.

The property, which was allocated under Nigeria's Mass Housing Scheme in 2007, went into development as a residential, commercial, and mixed-use estate. JonahCapital claims the lease on the land is valid until June 2030 and that the Nigerian government breached the agreement. The company alleges that the Federal Capital Development Authority failed to provide necessary infrastructure such as roads, water, and electricity, forcing the developer to fund these essential services.

JonahCapital also claims that the government breached building approval fees and fenced off parts of the land during the arbitration process.

Nigeria's Federal Capital Territory Minister, Nyesom Wike, confirmed that arbitration proceedings have commenced and that the government will adhere to the arbitration outcome. Wike insists that the land was lawfully recovered after the lease expired and that some developments on the site were carried out by Paulo Homes Limited, a separate firm engaged by JonahCapital for approvals.

In addition to the arbitration, Nigerian authorities have filed a criminal case against Sir Sam Jonah and others, accusing them of forgery and unlawful share allocation in companies connected to the Abuja project. Sir Jonah denies these allegations. The case has drawn diplomatic attention, with Sir Jonah petitioning Ghana's Foreign Affairs Minister over threats to his investments. The Ghanaian minister raised the matter at an ECOWAS Council of Ministers meeting in Abuja.

The dispute will be decided by an independent tribunal under the New York Convention, with awards enforceable in over 170 countries. No hearing date has been set yet. Meanwhile, criminal proceedings against Sir Sam Jonah and associates are also pending in Nigeria. Sir Jonah is involved in various investments across Africa, including mining, energy, and real estate, with River Park Estate being one of his most significant property projects outside Ghana.