A longstanding dispute over the ownership of River Park Estate in Abuja has taken a new turn, with investor Dr. Adeniran Ogunmuyiwa revealing that he founded JonahCapital Nigeria Ltd, contrary to claims that the company is owned by Ghanaians. This revelation comes in response to a statement by Federal Capital Territory Minister Nyesom Wike, suggesting Ghanaian ownership of the company.
Dr. Ogunmuyiwa clarified that he established JonahCapital Nigeria Limited in 2006, with himself and his wife holding a 60% majority stake. He attributed the ongoing feud over River Park Estate to a group of Ghanaians, led by Kojo Mensah, who allegedly attempted to take over the company through fraudulent means. According to Ogunmuyiwa, the Ghanaians increased the company’s share capital from 1 million to 100 million without the knowledge of the directors, creating 99 million new shares that were allocated to themselves.
This alleged fraud has led to a police investigation, resulting in a 26-count charge against a Nigerian lawyer, Abu Arome, and three Ghanaians: Sam Jonah, Kojo Ansah, and Victor Quainoo, as well as a company, Mobus Property Nigeria Ltd. The accused are set to be arraigned on October 7. The charge sheet, filed at the High Court of the Federal Capital Territory, alleges the defendants’ involvement in forgery and illegal takeover attempts of Houses for Africa Nigeria Ltd and JonahCapital Nigeria Ltd.
Ogunmuyiwa emphasized that the company was sold to Paulo Homes Limited in 2025, with the agreement of the South African CEO of Houses for Africa Holdings Inc, Mr. John Townley-Johnson. He maintained that the dispute is a test for Nigeria’s justice system and corporate security, highlighting the need for the Corporate Affairs Commission to prevent unauthorized alterations to company records.
The police investigation has uncovered evidence of falsified documents, forged signatures, and impersonation. The charge is supported by several exhibits, including letters of petition, police investigation reports, and forensic reports from keyforensics Ltd and the Nigerian Police. The case is significant, as it highlights the importance of corporate security and the need for effective regulation to prevent fraudulent activities. The outcome of the arraignment and subsequent trial will be closely watched, as it will have implications for the ownership of River Park Estate and the broader business community in Nigeria.
