Abuja: The Nigerian faction of JonahCapital Nigeria Limited has formally petitioned the Economic and Financial Crimes Commission (EFCC) regarding Mr. Samuel Jonah’s claims of a $300 million investment in a contested Abuja estate.
According to News Agency of Nigeria, the faction led by the company’s founder and director, Dr. Adeniran Ogunmuyiwa, asserted that Jonah, representing the Ghanaian-led faction, falsely claimed involvement in infrastructure investment at River Park Estate, Abuja. Ogunmuyiwa’s petition, dated August 10 and received by the EFCC on August 11, called for an investigation into the alleged investment to determine if the funds were indeed brought into Nigeria and used for the project.
The petition urged the EFCC to request evidence such as Certificates of Capital Importation (CCI), bank statements, records of foreign inward remittances, Central Bank of Nigeria documentation, foreign exchange records, investment agreements, audited accounts, and payment records. Ogunmuyiwa also sought proof of payments made for the acquisition, development, or financing of the River Park project, along with records of payments to contractors and suppliers.
Ogunmuyiwa criticized the arbitration related to the property at the International Chamber of Commerce (ICC) as a ploy to defraud Nigeria of hundreds of millions of dollars for investments that allegedly never happened. Recently, the Minister of the Federal Capital Territory, Nyesom Wike, confirmed that Nigeria was taken to the ICC in France over the dispute involving Plot 4, Cadastral Zone E30, Lugbe West, Abuja, known as River Park.
The property in question was acquired by JonahCapital Nigeria Limited through a Development Lease Agreement in 2007. It has been the subject of a legal dispute between Nigerian investors and their Ghanaian counterparts concerning rightful ownership. The Ghanaian faction initiated arbitration against the Federal Capital Development Authority (FCDA) following the termination of the lease agreement last year, arguing that the agreement was valid until 2030.
In a Letter of Disavowal to the FCT Minister, Ogunmuyiwa stated that the company never invested in River Park Estate’s development, and the Ghanaians had no right to make claims on behalf of JonahCapital since they are neither owners nor directors of the company. He claimed that attempts were being made to defraud the Federal Government by foreign actors without rights.
Ogunmuyiwa detailed that an ownership conflict within JonahCapital led to several changes between 2024 and 2026, asserting that the company was neither incorporated by the Ghanaians claiming it, nor was it sold to them. He further alleged that Jonah manipulated documents in February 2024 to claim ownership of JonahCapital, despite providing no infrastructure on the disputed property.
He emphasized that the infrastructure at River Park Estate was funded by Paulo Homes Limited, with whom JonahCapital had an agreement, and the financial commitment amounted to billions of naira. According to him, Jonah became a shareholder in 2007 with the understanding that he would contribute capital, but he failed to do so and was removed as a shareholder in 2008.
The letter also added that Jonah was never appointed as a director and had no lawful authority to claim such a position, but he allegedly began signing documents as a director after resurfacing years later.
The Nigerian faction called on the EFCC to investigate Kojo Mensah’s role, his relationship with Samuel Jonah, and whether documents submitted in the arbitral proceedings were false. Ogunmuyiwa stressed that if individuals with no legitimate proprietary interest were presenting a fictitious investment history before an international tribunal for economic gain, it warranted immediate investigation.
The petition concluded with a request for a comprehensive investigation into the activities of Jonah, Mensah, and others involved in the matter, urging that all culpable individuals be held accountable.