The Federal Government has been urged to examine an ongoing arbitration proceeding before the International Chamber of Commerce (ICC), Paris, in which a claim of about $300 million is reportedly being made in connection with a real estate project in Abuja.
The call was made by Jonahcapital Nigeria Limited in letters addressed to the Minister of the Federal Capital Territory (FCT), Nyesom Wike, and the Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede.
The company raised concerns about the basis of the claim and asked the relevant authorities to investigate the circumstances surrounding the arbitration proceeding.
In its letter to Wike, signed by two of its directors, Dr Adeniran Ogunmuyiwa and Olakiitan Ogunmuyiwa, the company disputed assertions reportedly made in the arbitration concerning its alleged investment in infrastructure at River Park Estate, Lugbe, Abuja.
The directors stated that Jonahcapital Nigeria Limited did not provide infrastructure or funding for the development of the estate.
They said the development was funded by Paulo Homes Limited under an agreement relating to the project.
The directors urged Wike to refer the matter to the appropriate authorities for verification and investigation, particularly the claims concerning Jonahcapital Nigeria Limited’s alleged involvement in the provision of infrastructure at the estate.
They said this would help establish the facts surrounding the claims and protect the interests of the Federal Government.
In a separate letter to the EFCC Chairman dated August 11 and written by the company’s lawyer, Oluwabunmi Adebiyi, the firm outlined the history of Jonahcapital Nigeria Limited and its involvement in the River Park Estate project.
Adebiyi said Dr Ogunmuyiwa incorporated Jonahcapital Nigeria Limited around 2007, with himself and his wife as directors.
He said the company subsequently entered into a Development Lease Agreement with the Federal Capital Development Authority (FCDA) concerning the development of Plot 4, Cadastral Zone E30, Lugbe West, Abuja, now known as River Park Estate.
The lawyer asked the EFCC to examine what he described as discrepancies concerning the company’s ownership, investment and interests in the project.