JonahCapital Warns Against ICC Arbitration Fraud Scheme
Dr Adeniran Olatokunbo Ogunmuyiwa, a director and founder of JonahCapital Nigeria Limited, has warned that an International Criminal Court (ICC) arbitration initiated by a Ghanaian faction is a scheme to defraud Nigeria of hundreds of millions of dollars. The Ghanaian faction claims to have invested over $300 million in infrastructure at River Park Estate, a property acquired by JonahCapital through a Development Lease Agreement (DLA) in 2007.
Ogunmuyiwa refuted these claims, asserting that JonahCapital has never invested in the project and urged the Economic and Financial Crimes Commission (EFCC) to investigate the Ghanaian faction for evidence of capital importation into Nigeria. The Minister of the Federal Capital Territory, Nyesom Wike, confirmed that Nigeria is involved in an ICC dispute regarding the development of the property, following the termination of the lease agreement last year.
Ogunmuyiwa emphasized that the Ghanaian faction has no rights to make claims on behalf of JonahCapital.
Plus234Feed summary based on reporting from Blueprint. Read the original report below.
Read full article
Continue on Blueprint
Get the week in one email
Top stories, NPFL results, the naira — every Friday morning. Free, one email a week.
Related Stories
Ghanaian Community Seeks Tinubu, Mahama's Help in Abuja
Nigeria Wins Legal Battle Against Sunrise Power Claim
Court Nullifies Attempt to Hijack Property Firm in Lagos
Tinubu Celebrates Nigeria's ICC Arbitration Win on Mambilla Project
NICON and Nigeria Re Accuse NAICOM of Fund Mismanagement
Nigeria defeats Sunrise Power in $2.35bn arbitration case
Get Plus234Feed on messaging apps
Same headlines, delivered where you already scroll.
