Court Cancels Alleged Plot to Hijack 30-Year-Old Property Firm
The Federal High Court in Lagos has nullified an alleged attempt to take control of a 30-year-old property company, through disputed corporate filings submitted to the Corporate Affairs Commission. Justice
The Federal High Court in Lagos has dismissed an alleged attempt to take control of a 30-year-old property company via fraudulent corporate filings, according to a July 24, 2026 ruling. Justice Dehinde Dipeolu declared a December 5, 2014 meeting of Oyetubo Jokotade Estate Resources Ltd. null and void, finding that individuals who claimed to be neither shareholders nor directors had illicitly allocated shares and assumed directorship roles.
The court ruled that the purported meeting lacked the necessary legal authority and statutory compliance, leading to the invalidation of resolutions, share allocations, and changes in directorship. Additionally, the company's former secretary, Shade Ogundare & Co., was restored to her position. The individuals involved were barred from claiming director or shareholder status.
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