Headline

Ikoyi Building Collapse: Stakeholders Sue Lagos Govt, Others for Negligence, Unlawful Expropriation

Published

2 years ago

August 20, 2022

Eric

By Eric Elezuo

Stakeholders associated with the building that collapsed on Gerrard Road, Ikoyi, better known as 360 Degrees, on November I, 2021, have sued the Lagos State Governor among a host of others for what they called Negligence of the Lagos State Building Control Agency and Unlawful expropriation of equitable interests in the property.

In a letter dated August 8, 2022, and signed byTope Adebayo, LLP and
Joseph Uche Anyebe, Esq, the stakeholders, who identified themselves as members of class of subscribers of various units, are seeking an order of perpetual injunction jointly and severally either by themselves, servants, agents, privies or otherwise howsoever called from disturbing, interfering with, taking, receiving or in any way taking possession of, demolishing, divesting and/or revoking the title, disposing of all or any part of the property, landed or otherwise, known as “360° Ikoyi” situate, lying and being at 44BCD, Gerrard Road, Ikoyi-Lagos State.

Read the letter in full:

8th August 2022.
The Honourable Commissioner
Lagos State Ministry of Physical Planning & Urban Development
Alausa, Ikeja
Lagos State.
Dear Sir,

MEMORANDUM OF CLAIM PURSUANT TO THE HIGH COURT OF LAGOS STATE (EXPEDITIOUS DISPOSAL OF CIVIL CASES)

PRE-ACTION PROTOCOL

We refer to the above subject matter.

We act on behalf of Mr. Oluwemimo Adepoju Ogunde SAN, Pastor Adetola Odutola, Mr. Bola Odutola, Mrs. Bunmi Odutola, Mr. Ghandi Olaoye, Ms. Zahra Temitope Motomori, Kwara Business School Limited, Saikoyi Property Limited, Mr. Adewale Folowosele, Mrs. Foluso Folowosele, Mr. Moses Anibaba, Mrs. Margaret Anibaba, Dr. Oladipo Oluyomi, Mrs. Adepeju Oluyomi, Mr. Tayo Oladapo (members of class of subscribers of various units of flats/penthouses/terraces/apartments in the 3 towers/high-rise buildings on the land known as “360° Ikoyi” at 44BCD, Gerrard Road, Ikoyi-Lagos State). It is on their definite and express instructions we notify the Governor of Lagos State, the Attorney General of Lagos State, Lagos State Ministry of Physical Planning and Urban Development, Lagos State Building Control Agency and Edge of Design Limited of the Claimants’ intention to commence legal proceedings against them.

BASIS OF CLAIM

The basis of this claim is grounded on the following cause of action:
Negligence of the Lagos State Building Control Agency.
Unlawful expropriation of equitable interests in the property (landed or otherwise) by the Government of Lagos State or any of its agencies.

SUMMARY OF FACTS

The summary of facts culminating in the aggregate action to be instituted by the Claimants against the Defendants is as follows:
The Claimants are members of the class of subscribers of various units of flats/penthouses/terraces/apartments being constructed in the 3 towers/high-rise buildings on the land known as “360° Ikoyi” at 44BCD, Gerrard Road, Ikoyi-Lagos State and have parted with monies as consideration for the various units of flats offered to them by Fourscore Heights Limited.
The Claimants were encouraged and motivated to take up the offers for the various units of flats in Towers of the high-rise buildings on the land known as “360° Ikoyi” at 44BCD, Gerrard Road, Ikoyi-Lagos State and made payments in respect of same on the understanding that the properties are to be constructed in Lagos State under the thorough and strict supervision of a prime regulator, the Lagos State Building Control Agency established pursuant to the Urban and Regional Planning and Development Law, 2010 of the State.

Despite their well-founded belief that the 3 Towers of the high-rise buildings on the land known as “360° Ikoyi” lying, being and situate at 44BCD, Gerrard Road, Ikoyi-Lagos State would be structurally sound, the construction of same which by their nature would have been adequately regulated and the engineering activities constantly probed, Tower 1 on the construction site however collapsed on 1st November 2021 leading to the unfortunate death of the Managing Director of Fourscore Heights Limited, Mr. Olufemi Osibona and other persons.
The Government of Lagos State through the Lagos State Ministry of Physical Planning & Urban Development and Lagos State Building Control Agency stopped all building works on the construction site of Fourscore Heights Limited, and took over the construction site.

Lagos State Building Control Agency was negligent in the proper performance of its statutory duties which led to the eventual collapse of one of the three towers on the construction site at 44BCD, Gerrard Road, Ikoyi-Lagos State.

Having made payments for the purchase of the various units of flats in the 3 Towers of the high-rise buildings on the land known as “360° Ikoyi” at 44BCD, Gerrard Road, Ikoyi-Lagos State in line with their individual agreements/contracts of sales with Fourscore Height Limited, the Claimants have acquired equitable interest in the property.

Had the 1st tower not collapsed owing to the negligence of Lagos State Building Control Agency, the subsequent take over of the construction site and prevention of further works in respect of the 2nd & 3rd towers, the Claimants would have taken full benefits of the interests that have accrued to them after having purchased several units of flats in the 3 Towers. The Claimants would have further taken steps in addition to their equitable interests to ensure that they acquire the legal interests in their property.

Owing to Lagos State Building Control Agency’s abdication of its duty of reasonable care and skill in the performance of its statutory functions and the resultant damage following the collapse of Tower 1 on the construction site on 1st November 2021, the subsequent cessation of building works and taking over of the construction site, Lagos State Building Control Agency has caused the Claimants to lose the chance to take full benefit from their investments in the property.

Despite the apparent negligence of Lagos State Building Control Agency in the proper performance of its statutory function, after having taken over the construction site, there are plans in top gear by the Lagos State Government to revoke the title of Fourscore Heights Limited in the entire property lying, being and situate at 44BCD, Gerrard Road, Ikoyi-Lagos State and deem the said property as having been forfeited to the government pursuant to LABSCA Regulations, 2019.
The Lagos State Government has gone ahead to appoint Edge of Design Limited to immediately take steps to demolish the 2nd & 3rd Towers of the high-rise buildings on the land known as “360° Ikoyi” lying, being and situate at 44BCD, Gerrard Road, Ikoyi-Lagos State when independent evidence of an unfavourable non-destructive test results has not been produced.

Any compulsory acquisition of the property at 44BCD, Gerrard Road, Ikoyi-Lagos State by way of forfeiture in favour of the Lagos State Government would amount to rewarding the Lagos State Government by making them take benefit from the negligence of one of its agencies and in complete disregard of the equitable interest of the Claimants which is worthy of protection by the Court.

RELIEFS AND REMEDIES

WHEREOF the Claimants would urge the Honourable Court to grant the following claims:
A DECLARATION that the agreements between Fourscore Heights Limited and each of the Claimants to acquire units of flats with agreed considerations paid, entitle the Claimants to equitable rights and interests in the property known as “360° Ikoyi” at 44BCD, Gerrard Road, Ikoyi-Lagos State by virtue of the legal title conferred on Fourscore Heights Limited by the 1st Defendant in the Certificate of Occupancy Number 48/48/2020A dated 3RD February 2020 and registered as Number 48 at age 48 in Volume 2020Aat the Land Registry, Alausa, Ikeja, Lagos State.

A DECLARATION that the 1st, 2nd, 3rd and 4th Defendants were negligent in the performance of their duties by failing and/or neglecting to supervise the construction of one of the three towers at 44BCD, Gerrard Road, Ikoyi-Lagos State in line with Regulations and the negligence led to the eventual collapse of the tower.
A DECLARATION that the 1st, 2nd, 3rd and 4th Defendants cannot benefit from their negligence by compulsorily, wrongfully, illegally and punitively acquiring or threatening to acquire the property known as “360° Ikoyi” at 44BCD, Gerrard Road, Ikoyi-Lagos covered by Certificate of Occupancy Number 48/48/2020A dated 3rd February, 2020 and registered as Number 48 at Page 48 in Volume 2020A at the Land Registry, Alausa, Ikeja, Lagos State through forfeiture and/or purported forfeiture to the Lagos State Government following the collapse of one of the towers.

A DECLARATION that the provisions of the Lagos State Urban and Regional Planning and Development Law & the Lagos State Building Control Agency Regulations, 2019 being relied upon to compulsorily acquire the property known as “360° Ikoyi” at 44BCD, Gerrard Road, Ikoyi-Lagos State covered by Certificate of Occupancy Number 48/48/2020A dated 3rd February, 2020 and registered as Number 48 at Page 48 in Volume 2020A at the Land Registry, Alausa, Ikeja, Lagos State by way of forfeiture cannot apply in the face of the negligence of the 1st, 2nd, 3rd and 4th Defendants to perform their duties and when the Claimants’ interests (as third parties) would be adversely affected.
A DECLARATION that any demolition of the 2nd and 3rd Towers on the land known as “360° Ikoyi” at 44BCD, Gerrard Road, Ikoyi-Lagos State covered by Certificate of Occupancy Number 48/48/2020Adated 3rd February, 2020 and registered as Number 48 at Page 48 in Volume 2020A at the Land Registry, Alausa, Ikeja, Lagos State by the 5th Defendant on the instructions of the 1st – 4th Defendants or any other persons claiming to represent the Lagos State Government when independent evidence of an unfavourable non-destructive test results has not been produced will adversely affect the equitable interests of the Claimants in the said properties.
A DECLARATION that the Claimants’ equitable interests in the property (landed or otherwise) at 44BCD, Gerrard Road, Ikoyi-Lagos State covered by Certificate of Occupancy Number 48/48/2020A dated 3rd February, 2020 and registered as Number 48 at Page 48 in Volume 2020A at the Land Registry, Alausa, Ikeja, Lagos State cannot be expropriated and/or divested by the Government of Lagos State or any of its agencies.

A declaration that the overt move and the action taken and being embarked and contemplated to be embarked upon by the 2nd to 5th Defendants on behalf and at the instruction of the 1st Defendant to demolish or preparing to demolish the structures of Towers 2 and 3 of the property situate at No.44BCD Gerrard Road Ikoyi Lagos State is a flagrant violation of the Claimants’equitable interest in the aforesaid property.

AN ORDER restraining the 1st to 5th Defendants either by themselves, servants, agents, or privies from trespassing or further trespassing, demolishing or further demolishing the properties known as Tower 2 and Tower 3 lying, being and situate at No.44BCD Gerrard Road Ikoyi Lagos State covered by Certificate of Occupancy Number 48/48/2020A dated 3rd February, 2020 and registered as Number 48 at Page 48 in Volume 2020A at the Land Registry, Alausa, Ikeja, Lagos State until an independent audit of the property is carried out by the Council For The Regulation of Engineering in Nigeria (COREN).

AN ORDER OF PERPETUAL INJUNCTION restraining the 1st – 5th Defendants jointly and severally either by themselves, servants, agents, privies or otherwise howsoever called from disturbing, interfering with, taking, receiving or in any way taking possession of, demolishing, divesting and/or revoking the title, disposing of all or any part of the property, landed or otherwise, known as “360° Ikoyi” situate, lying and being at 44BCD, Gerrard Road, Ikoyi-Lagos State covered by Certificate of Occupancy Number 48/48/2020Adated 3rd February, 2020 and registered as Number 48 at Page 48 in Volume 2020A at the Land Registry, Alausa, Ikeja, Lagos State.
General damages against the Defendants in favour of the Claimants in the sum of N200,000,000.00 (Two Hundred Million Naira) only
The sum of N50,000,000 (Fifty Million Naira) only being the cost of this suit.

EXHIBITS IN SUPPORT OF THIS CLAIM

The 1st Claimant’s offer letter dated 19th December 2019.

The letter of 17th January 2020 wherein Fourscore Heights Limited acknowledged receipt of the payment of $111,111.11, the trail of WhatsApp messages between Mr. Femi Osibona and the 1st Claimant acknowledging further payment of $120,000 and the acknowledgement of the receipt of $20,000 received by Ayodele Nifemi to be given to Mr. Femi Osibona.

The 2nd Claimant’s offer letter of 19th December 2019.

The acknowledgement letters of the receipt of the sum of $315,586.78 and $7,708 both dated 25th August 2021
Fourscore Heights Limited’s letter dated 05/12/2019 acknowledging receipt of the 1st instalment payment and its subsequent letter dated 5th May 2021.
The unexecuted contract of sale and the trail of WhatsApp messages between the 3rd Claimant and Mr. Femi Osibona, the late Managing Director of Fourscore Heights Limited.

The unexecuted contract of sale between the 5th Claimant and Fourscore Heights Limited.

6th Claimant’s offer letter dated 28th January 2019 and the signed document showing receipt of payment.

The offer letter (letter of allocation) dated 3rd August 2020 and the 7th Claimant’s evidence of payment of the consideration.

The offer letter (letter of allocation) dated 3rd August 2020 and the 8th Claimant’s evidence of payment of the consideration.

The 9th & 10th Claimants’ offer letter dated 23rd October 2019 and the various GTB online transfer advice.
The 11th & 12th Claimants’ offer letter dated 6th August 2019 and the signed document showing receipt of one of the payments.

The 13th & 14th Claimants’ offer letter dated 27th February 2019 and some of the payment debit advice.

The 15th Claimant’s offer letter dated 15th January 2019 and the signed document showing receipt of one of the payments.

The online newspaper publication of the CABLE with the caption “REWIND: In 2020, Femi Osibona resisted the sealing off of his 21-storey Ikoyi building (video)” published on 4th November 2021 on https://www.thecable.ng/rewind-in-2020-femi-osibona-resisted-the-sealing-off-of-his-21-storey-ikoyi-building.

PROPOSAL FOR SETTLEMENT OF DISPUTE

The Claimants hereby propose a negotiated settlement where parties would meet on a date, time, and venue to be agreed upon within 7 days of the receipt of this memorandum. At this meeting, you are also at liberty to come up with reasonable suggestions on how we can amicably resolve this dispute to prevent this matter from degenerating to a full-blown litigation.

TAKE NOTICE that by the provisions of the Practice Direction No 2 of 2019 (Expeditious Disposal of Civil Cases) Pre-Action Protocol of the Lagos State High Court (Civil Procedure) Rules 2019, THE DEFENDANTS shall respond to this Memorandum of Claim not later than 7 days from service of the Memorandum and not later than 7 days from the service of the Claimants’ reminder.
Please accept the expression of our warmest regards.
Yours faithfully,

For: Tope Adebayo, LLP
Joseph Uche Anyebe, Esq.

Headline

Edo Decides: The Battle of Godfathers

Published

1 week ago

September 21, 2024

Eric

By Eric Elezuo

The countdown to the Edo State governorship election winds down, today, September 21, 2024 with 18 candidates slugging it out with one for another in the race to occupy Osadebe House, home of the executive governor of the state.

Much as there are 18 candidates on the ballot paper, observers as well as stakeholders, have narrowed the contest to three main candidates vis a vis Asue Ighodalo of the Peoples Democratic Party (PDP), Olumide Akpata of the Labour Party (LP) and Monday Okpebholo of the All Progressives Congress (APC).

But even as these candidates are the ones that have their names on the ballot papers, popular opinion across board believe that they are just pawns being controlled by specific godfathers, who are at the sides pulling the strings of support either financially, mobilization or public relations. Consequently, the election has been termed a battle of godfathers behind the scene rather than a game of popularity among contestants.

For the governing PDP candidate, Ighodalo, the accepted norm among political stakeholders has remained that he is an extension of the outgoing governor, Mr. Godwin Obaseki, who eight years tenure ends on November 12. On the same hand, there is the Adams Oshiomhole factor, solidly pushing the candidacy of Okpebholo, a serving Senator of the Federal Republic of Nigeria.

However, while many are of the opinion that the Labour Party candidate, Barr Olumide Akpata, is a standalone candidate, with no particular pressure of godfatherism, many others say he is not alone, but is also being pushed by a godfathers they recognized as Mr. Peter Obi, the LP presidential candidate in the 2023 general election. Peter Obi, who represents the face of a new Nigeria among the youths, has featured prominently in most of Akpata’s campaign.

But for the two major godfathers, Obaseki and Oshiomhole, between whom there’s no love lost, the campaign season had been replete with mudslinging, verbal attacks and on few occasions, physical attacks. These issues have put a question mark to the decency expected as the elections kick off.

The attacks and no love status so far experienced led to the PDP’s refusal to participate in the peace accord signing ceremony, where other contesting political parties including the APC, signed.

The PDP queried the rationale behind the harassment of its members with security agencies, saying that if it did not stop, and if the Special Forces forced on Edo is not to be withdrawn, they will not sign the accord. And they did not.

“We already have a very effective state police command, so why bring in these Special Forces to Edo to harass people,” a party chieftain, Emmanuel Odigie, who defected from APC said.

But this is not the first time Obaseki will Square up against Oshiomhole, who ordinarily, was his political godfather. Both met on the tuff of political exigency in 2020 while Obaseki was seeking a second term and Oshiomhole was supporting Osagie Ize-Iyamu. This present contest is a return or episode of the events that transpiref in 2020. Even if Peter Obi was a godfather in the present disposition, he is yet to get into any shouting match with the other godfathers or contestants.

Obaseki has described the election as do or die, but observers believe it goes beyond that as it is winner takes it all considering the extent of animosity brewing among the contestants. It will be recalled that 24 hours to the election, the three candidates suffered particular setbacks. While it was said that the candidate of the APC, Monday Okpebholo had been disqualified by the courts, it was also rumored that Akpata has withdrawn from the election.

On the other, political thugs allegedly loyal to Ighodalo and the PDP were apprehended with dangerous weapons. A statement by the Force Public Relations Officer, Olumuyiwa Adejobi, said they were getting ready to violently disrupt the Saturday election.

THE CANDIDATES

According to a ThisDay report, the election in Edo is described as a three horse race involving Ighodalo, Akpata and Okpebholo. These three are reported to have the highest of followership and has been prominent and visible in the campaigns.

The supporters of the candidates agree that they are not all equally matched, but that each has a comparative advantage his opponents lack.

Consider of review of their profile as portrayed by Wikipedia:

ASUE IGHODALO (PDP)

Asue Ighodalo is a product of King’s College, Lagos. He obtained B.Sc degree in Economics from the University of Ibadan in 1981, an LL.B from the London School of Economics and Political Science (1984) and a B.L from the Nigerian Law School, Lagos (1985).

Upon graduation from Nigerian Law School, Lagos, Ighodalo worked as an Associate in the law firm of Chris Ogunbanjo & Co between 1985 and 1991, and in 1991 he set up Banwo & Ighodalo, in partnership with Femi Olubanwo. The firm is consistently ranked as a leading Nigerian law firm in the areas of Capital Markets, Securities, Mergers & Acquisitions. Ighodalo’s core areas of practice include Corporate Finance, Capital Markets, Energy; Natural Resources, Mergers; Acquisitions, Banking, Securitization and Project Finance.In 2014, Ighodalo successfully advised Zenith Bank Plc in connection with a US$500 million eurobond issuance and Diamond Bank Plc in connection with a US$200 million eurobond issuance respectively.

He resigned from all corporate positions he held to aspire to become the governor of Edo State.

On February 22, 2024, Ighodalo emerged as the People’s Democratic Party (PDP) candidate for the 2024 Edo State governorship election. However, a Federal High Court sitting in Abuja nullified election on the ground that 378 delegates who were to vote during primary election were unlawfully denied their rights to vote.

His candidacy was eventually upheld by the Federal High Court in Abuja, which confirmed Ighodalo as the legitimately nominated governorship candidate of the PDP in Edo State, and dismissed the lawsuit challenging his nomination.

Ighodalo was the Chairman of the Board of Directors for Sterling Bank Plc, Dangote Flour Mills Plc and The Nigerian Economic Summit Group (NESG). He also sat on the boards of other public and private companies, non-governmental organizations (NGOs) and a statutory body including Okomu Oil Palm Company Plc, the Nigeria Sovereign Investment Authority (NSIA) and the FATE Foundation (an NGO committed to the development of entrepreneurs in Nigeria).

Ighodalo became the Chairman of Sterling Bank in August 2014. He is a member of Nigerian Bar Association (NBA), and is a past chairman of The NBA – Section on Business Law (NBA SBL). He is also a member of Association of International Petroleum Negotiators (AIPN), USA, Nigerian Economic Summit Group, International Bar Association (IBA), Nigerian Maritime Law Association, Commercial Law & Taxation Committee of the Lagos Chamber Of Commerce & Industry, London School of Economics Lawyers’ Group and Associate Member Chartered Institute of Taxation.

Ighodalo is married to Ifeyinwa, and they have two daughters, Omoehi and Ayomide.

He is the elder brother of Pastor Ituah Ighodalo, senior pastor of Trinity House, Lagos.

MONDAY OKPEBHOLO (APC)

Okpebholo was born on 29 August 1970 in Udomi-Uwessan community of Irrua. Okpebholo attended Udomi Community Primary School and Ujabhole Community Secondary School, both in Uwesan Irrua, Esan Central LGA. He completed his secondary education and obtained his senior school certificate in Jos, Plateau State. Afterwards, he obtained a degree in Business Administration from the University of Abuja and holds Masters’ degree in Policy and Leadership Studies from the same institution.

Okpebholo contested for the Senate Seat in Edo Central senatorial district, under the All Progressives Congress (APC) and was elected on 25 February 2023. On 13 June 2023, he was inaugurated into the 10th National Assembly of Nigeria, as the senator of the Federal Republic of Nigeria, representing Edo Central senatorial district.

In February 2024, he won the Edo State APC gubernatorial primary election.

In 2024, Okpebholo was summoned by Magistrates’ Court over allegations of falsifying date of birth which was stated as 1 August 1977, on his INEC voter card.

Previously, he was caught falsifying his date of birth as 29 August 1972 on a WAEC certificate while being a student at the West African Examination Council.

During the 2024 campaign, Monday Okpebholo was endorsed by Nollywood actress, Mercy Johnson-Okojie, whose husband is a Service member of the National Assembly under the APC.

Okpebholo is married to Blessing Okpapi Ekpe and together they have two children. Besides being a politician and a family man, he is also a committed Christian and an active member of the Redeemed Christian Church of God.OLUMIDE AKPATA (LABOUR PARTY)

Olu Akpata

Akpata was born on October 7, 1972, in Berlin Germany. He started his educational journey at Nana Primary School in Warri, then moved on to Federal Government College, Warri and later King’s College in Lagos. He obtained a bachelor’s degree in law from University of Benin, Edo state in 1992 and was called to the bar in 1993. He served in the National Youth Service Corps in Kano State.

Akpata began his legal practice in Delta state under the tutelage of Dr. Mudiaga Odje, Senior Advocate of Nigeria, OFR, who was one of the most seasoned litigators of his time.

In 1996, Akpata relocated to Lagos and teamed up with his cousin, Oghogho Akpata, who had just set up the law firm Templars the previous year. Akpata joined in the formation of Templars at the age of 23, and has grown the firm into what it is today, as one of the largest law firms in Nigeria with a workforce of about 100 lawyers, including two Senior Advocates of Nigeria, both of whom practice proficiently in diverse areas of Nigerian law.

Akpata is currently senior partner and Head of the Corporate & Commercial Practice Group of Templars. He has participated in some of the major groundbreaking transactions that have shaped commercial law practice in Nigeria and indeed the Nigerian economy. He was chairman of the Nigeria Bar Association Section on Business Law (NBA-SBL).

On July 30, 2020, he was elected as the president of the Nigerian Bar Association after acquiring a total of 9,891 votes of the total 18,256 ballots cast.

Akpata is riding on the popularity of his party leader, Peter Obi, and the sweeping waves the party made in the 2023 elections, where it overwhelmingly won Edo State.

Headline

Tony Elumelu Urges Urgent Action on Africa’s Economic Growth, Youth Employment, and Energy Transition at UNGA

Published

1 week ago

September 21, 2024

Admin

UNGA: Elumelu To Call For Urgent Action On Africa- Focused Issues African philanthropist and business leader, Tony Elumelu, will make Africa’s transformative economic growth, youth employment, and energy transition central to the discussions at this year’s United Nations General Assembly (UNGA), taking place late September in New York.

Elumelu will call for urgent action in a series of engagements, including a roundtable discussion at the Clinton Global Initiative with former President of the United States, Bill Clinton, and at an event co-hosted by the World Food Programme (WFP) and the Tony Elumelu Foundation (TEF), led by WFP Executive Director, Cindy McCain.

Elumelu will bring his perspective both from extensive experience in building industry-leading businesses across the continent, and the success of the Tony Elumelu Foundation’s catalytic programmes empowering young Africans. Elumelu is a realist, challenging Africa and Africans to solve their problems, bringing African solutions, but also recognizing Africa’s responsibility to act.

As Chairman of United Bank for Africa (UBA) Group and pan-African investment company, Heirs Holdings, as well as Founder of the Tony Elumelu Foundation, Elumelu is a leading driver of Africa’s transformation agenda, helping shape the continent’s narrative on the global stage. His thought leadership and advocacy challenge conventional views, offering innovative strategies for collaboration and growth. The success of his Foundation in promoting youth entrepreneurship as a pathway out of poverty, has featured in case studies from Harvard, Chicago Business School, Stanford and Cambridge.

With over 60% of Africans lacking access to electricity and young people making up more than 60% of the continent’s 1.3 billion population, Africa faces challenges that impact the world. Africa, most recently with tragic floods in West Africa, is suffering climate driven environmental crises, caused by global emissions, whilst Africa’s development is held back by huge infrastructure deficits.

In a recent statement, Elumelu emphasised, “I have often said that there is nowhere else in the world you can reap the kind of investments as in Africa. However, I am acutely aware of the fundamental challenges our continent faces. Addressing the issues of sustainable economic growth, youth unemployment, genda inequality, and Africa’s energy transition is critical not only for meeting the continent’s basic developmental needs, but also for achieving the Sustainable Development Goals and unlocking the immense economic potential that Africa offers.”

An economist and visionary entrepreneur, Elumelu’s economic philosophy of Africapitalism, serves as a blueprint for accelerating Africa’s economic transformation, advocating for the private sector to take the lead in delivering social and economic wealth, and shared prosperity for all.

Alongside Elumelu’s advocacy, the United Bank for Africa, which he chairs, will host a networking gala on the sidelines of UNGA – a platform to spotlight investment opportunities on the continent. The Gala will convene prominent leaders across four continents, in commemoration of UBA Group’s 75th anniversary and the Group’s 40 years of operations in the United States.

Headline

Ighodalo to Sue Oshiomole over ‘False, Defamatory and Malicious’ Comments, Demands N20bn

Published

2 weeks ago

September 17, 2024

Eric

The governorship candidate of the Peoples Democratic Party (PDP) in Edo, Mr. Asue Ighodalo, has asked his lawyers to institute a suit against Adams Oshiomhole, senator representing Edo north, over defamatory allegations.

Ighodalo said Oshiomole had accused him of involvement in “Planwell,” a ponzi scheme that surfaced in Edo state in the early 1990s.

“People of my age and even younger have not forgotten how Asue Ighodalo and all his associates were involved in what they call Planwell,” Oshiomole said during a campaign rally on Saturday.

“Planwell was set up as an institution where you deposit 10,000 in the morning by tomorrow it becomes 15,000, and after six months, people were defrauded, and the institution disappeared. And they became rich, and Edo people became pauperised.”

In a response to the allegations through his counsel, Ayo Asala, a senior advocate of Nigeria (SAN), Ighodalo described Oshiomole’s comment as “false, defamatory, and malicious”.

“It is sad to note that despite your status as an elder and holder of a public office, you appear to have developed a pattern of spewing false statements in the public domain purely for the achievement of your political ends,” a letter by Ighodalo’s lawyer and addressed to Oshiomhole reads.

“This baseless, unfounded, false, and malicious allegation has become another in a long line of such defamatory fabrications and statements made by you in respect of our client in the recent past.

“Our client is an accomplished Nigerian legal practitioner and a corporate leader whose impressive resume from birth up till the current day is entirely in the public domain, and our client has absolutely no connection with and could never have been involved in any manner whatsoever with the purported ‘Planwell’ scheme with which you have seriously defamed our client’s reputation.

“It is clear that the fabrication of the unfounded and false story regarding the purported involvement of our client in the said ‘Planwell’ scheme or any other financial scheme whatsoever is a figment of your imagination and a story fabricated purely for the purpose of denigrating the good character and reputation of our client for the achievement of the political purpose of advancing the sinking fortunes of your political party and candidate in the forthcoming Edo state gubernatorial elections.

“Our client has been inundated with calls and other contacts from concerned members of the public who heard your said allegations on electronic and social media, as a result of which our client has suffered enormous unwarranted reputational damage arising from the lies and baseless fabrications of which you have become the purveyor.”

Ighodalo is demanding “an immediate and unqualified retraction and apology for your false, defamatory, and malicious statements, which should be published in at least two national television networks and three nationally circulating newspapers”.

“Pay to our client damages in the sum of 20 billion Naira for your false, defamatory, and malicious statements referred to herein,” the letter further stated.

“Take notice that it is our client’s instructions that we immediately institute appropriate proceedings against you for damages in the sum of twenty (20) billion Naira (N20,000,000,000.00) for your said false, malicious, irresponsible, and damaging statements made against our client without any foundation whatsoever in fact.

“Further take notice that such action will be instituted without further notice or correspondence to you in that regard whatsoever.”