Renowned Ghanaian businessman and mining executive Sir Sam Jonah has initiated international arbitration proceedings against the Nigerian government over a disputed 501-hectare property in Abuja, in a case that could have significant implications for Ghanaian investment across West Africa.
The arbitration, which is being conducted under the International Chamber of Commerce (ICC) in Paris, stems from the termination of a development lease covering a large parcel of land near the Nnamdi Azikiwe International Airport in Nigeria’s capital.
Executive Chairman of JonahCapital Sir Sam Jonah
The investment is held through JonahCapital Nigeria Limited, a subsidiary of Sir Sam Jonah’s investment group. While neither party has disclosed the value of the claim, reports estimate the land could be worth about US$500 million based on current property values in Abuja.
Dispute over River Park Estate
The dispute centres on Plot 4 in Cadastral Zone E30, Lugbe West, a 501-hectare site allocated to JonahCapital in 2007 under Nigeria’s Mass Housing Scheme.
The land was developed into River Park Estate, one of Abuja’s largest private residential developments, comprising housing units, commercial facilities, healthcare centres, offices and places of worship
JonahCapital maintains that its development lease remains valid until June 2030.
However, Nigeria’s Federal Capital Development Authority (FCDA) terminated the lease in November 2025, a decision the company argues was unlawful and in breach of the development agreement.
Company’s claims
In the arbitration, JonahCapital alleges that Nigerian authorities failed to fulfil key obligations under the agreement.
According to the company, the FCDA did not provide essential infrastructure—including roads, electricity and water—forcing the developer to finance and construct those facilities at considerable cost.
The company also alleges that authorities breached provisions governing building approval fees and have fenced off sections of the disputed land while arbitration is ongoing.
In addition, JonahCapital argues that it has spent years defending ownership claims by third parties who allegedly attempted to assert rights over portions of the estate during its development
These allegations have not been tested before the arbitration tribunal.
Nigerian government’s position
Nigeria’s Minister of the Federal Capital Territory, Nyesom Wike, has acknowledged that arbitration proceedings are underway and says the government will allow the process to run its course.
“The other party has gone to arbitration and we say okay, until you finish from arbitration,” he said this week.
The minister maintains that the government lawfully recovered the land after the lease expired.
He has also argued that some disputed developments were undertaken by Paulo Homes Limited, a separate company engaged by JonahCapital to facilitate certain approvals.
Criminal case running alongside
Separate from the arbitration, Nigerian authorities have filed criminal charges against Sir Sam Jonah and several others before the Federal Capital Territory High Court.
The 26-count charge alleges forgery of company documents and the unlawful allocation of shares in companies linked to the Abuja development
Sir Sam Jonah has denied the allegations, which have yet to be tested in court.
Ghana raises diplomatic concerns
The dispute has also attracted the attention of the Ghanaian government.
In late 2025, Sir Sam Jonah petitioned Ghana’s Minister for Foreign Affairs, Samuel Okudzeto Ablakwa, alleging that actions by Nigerian regulatory authorities threatened his ownership interests in the investment.
Mr Ablakwa subsequently raised concerns over the treatment of Ghanaian investors during a meeting of the ECOWAS Council of Ministers in Abuja, citing the JonahCapital dispute as an example of challenges facing Ghanaian businesses operating in Nigeria
The Foreign Minister had earlier visited River Park Estate and publicly expressed support for efforts to protect Ghanaian investments abroad.
Why the arbitration matters
The decision to pursue arbitration before the ICC means the dispute will be determined by an independent international tribunal rather than Nigeria’s domestic courts.
International arbitration is commonly used for cross-border commercial disputes because awards can generally be enforced in more than 170 countries under the New York Convention, to which Nigeria is a party.
No date has yet been announced for the arbitration hearing, while the related criminal proceedings in Nigeria remain pending.
Sir Sam Jonah
Sir Sam Jonah is one of Ghana’s most accomplished business leaders. He transformed Ashanti Goldfields Company into one of Africa’s leading mining firms before becoming President of AngloGold Ashanti following its merger with Ashanti Goldfields in 2004.
He has since built investments across mining, energy and real estate in several African countries, with the Abuja development ranking among his largest property investments outside Ghana.
source:www.senaradioonline.com
