A faction of JonahCapital Nigeria Limited has called on the Economic and Financial Crimes Commission (EFCC) to examine an alleged $300 million investment linked to the River Park Estate project in Abuja.

The group wants the anti-graft agency to confirm whether the money entered Nigeria and whether developers used it to fund the estate’s infrastructure.

Dr Adeniran Olatokunbo Ogunmuyiwa, a founding director and shareholder of JonahCapital, raised the concerns in a letter to the Minister of the Federal Capital Territory, Nyesom Wike.

The dispute forms part of an arbitration case reportedly before the International Chamber of Commerce (ICC) in Paris.

JonahCapital Faction Disputes Funding Claim

Ogunmuyiwa disputes claims linked to Ghanaian businessman Samuel Esson Jonah that more than $300 million went into infrastructure at River Park Estate.

He said JonahCapital did not provide funding or infrastructure for the development.

Ogunmuyiwa also questioned the authority of the group pursuing the arbitration to act for JonahCapital. He said a dispute over the company’s ownership has led to competing corporate records.

According to him, the people behind the arbitration do not represent the legitimate owners or directors of the company.

The claims remain disputed. The other parties involved may contest them.

EFCC Petition Seeks Financial Records

The Nigerian faction later petitioned the EFCC over the River Park dispute. The commission reportedly received the petition on August 11.

The petition asks the agency to examine allegations of fraud, impersonation and false representations linked to the project.

The petitioners also want the EFCC to trace the alleged $300 million investment.

They asked investigators to review Certificates of Capital Importation, bank statements and foreign remittance records. They also listed Central Bank of Nigeria records, foreign exchange documents, investment agreements and audited accounts.

The group wants investigators to establish the source of the alleged funds. It also wants them to identify the Nigerian accounts that received the money.

Group Questions How Money Was Used

The petitioners said the alleged investment should have a clear financial record if the $300 million entered Nigeria.

They want the EFCC to determine the dates of the transfers and the amounts involved. They also want the agency to establish how the money allegedly funded the River Park project.

The petition names Samuel Esson Jonah, Kojo Mensah and other people said to have links with the arbitration.

The Nigerian faction also asked investigators to examine documents and claims submitted in the ICC proceedings.

Paulo Homes Named in Funding Dispute

The faction claims that Paulo Homes Limited financed major parts of River Park Estate.

It said the company provided funds for activities linked to the development. These allegedly included payments to indigenous communities, road construction and water infrastructure.

The group also made claims about Jonah’s previous position in JonahCapital. It alleged that he failed to provide capital he had agreed to contribute after joining the company as a shareholder.

It further alleged that Jonah lost his shareholder position around 2008.

The claims have not been independently verified.

Arbitration Follows Lease Agreement Dispute

The River Park dispute concerns Plot 4, Cadastral Zone E30, Lugbe West, Abuja.

The property is now known as River Park Estate.

The dispute followed the termination of a Development Lease Agreement involving JonahCapital Nigeria Limited and the Federal Capital Development Authority (FCDA).

The claimants reportedly maintain that the agreement remains valid until 2030.

FCT Minister Nyesom Wike has confirmed that Nigeria faces arbitration proceedings over the property.

What the Case Means for Abuja Real Estate

The dispute raises important questions about funding, ownership and development rights in major housing projects.

Large property developments need clear agreements and traceable financial records. They also depend on secure land rights and strong relationships between developers and public authorities.

Any prolonged dispute can create uncertainty for investors and other parties connected to a project.

For Abuja’s housing sector, the River Park case also highlights the need for clear project structures. Investors and homebuyers need confidence that developers have the legal and financial capacity to complete major projects.

The ownership dispute within JonahCapital, the alleged $300 million investment and the Development Lease Agreement remain contested.

The ongoing arbitration, along with any investigation by Nigerian authorities, could provide further clarity on the issues surrounding River Park Estate.

The post River Park Estate Dispute: EFCC Asked to Probe $300m Claim appeared first on Housing TV Africa.

Mr Trump, in an executive order on Thursday, said the ICC lacked jurisdiction over the U.S. and Israel given that both countries were not parties to the Rome Statute or members of the court and, therefore, could not be subject to its rules.

“The ICC’s recent actions against Israel and the United States set a dangerous precedent, directly endangering current and former United States personnel, including active service members of the armed forces, by exposing them to harassment, abuse, and possible arrest,” Mr Trump wrote in the executive order on Thursday.

Last November, ICC issued arrest warrants against Messrs Netanyahu and Gallant, accusing them of war crimes for blocking humanitarian aid to Gaza in the middle of a war. The ICC claimed the duo deprived the people of Gaza access to basic survival needs, including food and water.

However, Mr Trump clipped the court’s wings, noting that his executive order cut across, blocking the properties and assets of ICC officials and banning their family members from setting foot on American soil.

“The United States will impose tangible and significant consequences on those responsible for the ICC’s transgressions,” Mr Trump vowed.

Although the U.S. and Israel are not ICC members, Palestine became a member of the international court in 2015, thereby entitling Gaza to the ICC’s protection and jurisdiction.

The post Trump imposes sanctions on ICC, alleges court undermines U.S., Israel’s sovereignty appeared first on Housing TV Africa.

A statement by Anthony Ogunleye, Director of Press, Office of the Minister of FCT, said Messrs Julius Berger Nig Plc. has been contracted for the immediate comprehensive renovation of the centre.

The statement did not give reasons why the contract was terminated but sources close to the minister told our correspondent that the minister was not happy with the way the centre was being managed.

READ ALSO: How Civil Servants in FCDA are Conniving with Land Grabbers- Wike

The statement also said the minister had approved the appointment of Ambassador (Dr) Maureen Tamuno as the new Managing Director of Abuja Investment Company Limited (AICL) with immediate effect.

 Our correspondent reports that Ambassador Tamuno was the Nigerian High Commissioner to Jamaica, Belize, Haiti and the Dominican Republic.

The post Wike Sacks Integrated Facilities as Manager of International Conference Centre appeared first on Housing TV Africa.