A longstanding dispute over the ownership of River Park Estate in Abuja has taken a new turn. Investor Dr. Adeniran Ogunmuyiwa disclosed that he founded JonahCapital Nigeria Ltd, countering claims that the company is owned by Ghanaians. His statement responds to Federal Capital Territory Minister Nyesom Wike’s suggestion of Ghanaian ownership.
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 directors’ knowledge, creating 99 million new shares that were allocated to themselves.
The alleged fraud has prompted a police investigation, resulting in a 26‑count charge against a Nigerian lawyer, Abu Arome, three Ghanaians—Sam Jonah, Kojo Ansah, and Victor Quainoo—and a company, Mobus Property Nigeria Ltd. The accused are scheduled to be arraigned on 7 October. The charge sheet, filed at the High Court of the Federal Capital Territory, alleges forgery and illegal takeover attempts of Houses for Africa Nigeria Ltd and JonahCapital Nigeria Ltd.
Ogunmuyiwa emphasized that JonahCapital 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 tests 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 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 analyses from Keyforensics Ltd and the Nigerian Police. The case underscores the importance of corporate security and effective regulation to deter fraudulent activities. The outcome of the arraignment and subsequent trial will be closely watched, as it will affect the ownership of River Park Estate and have broader implications for Nigeria’s business community.
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