Ghanaian Businessman Takes Nigerian Government to International Arbitration Over Real Estate Dispute
Ghanaian businessman Sir Sam Jonah's company, JonahCapital, has initiated arbitration proceedings against the Nigerian government at the International Chamber of Commerce (ICC) in Paris. The dispute centers around River Park Estate, a 501-hectare development in Abuja, Nigeria. JonahCapital is challenging the Federal Capital Development Authority's (FCDA) decision to terminate a Development Lease Agreement, which the company argues is valid until June 2030. The FCDA claims the agreement expired, leading to the repossession of the land. JonahCapital alleges breaches of contract, including the FCDA's failure to provide necessary infrastructure, and has turned to international arbitration after unsuccessful attempts to resolve the issue through Nigerian courts. 
