Sir Sam Jonah is the Executive Chairman of Jonah Capital
The Minister of the Federal Capital Territory (FCT) of Nigeria, Nyesom Wike, has weighed in on the long-standing controversy surrounding the ownership of River Park Estate in Abuja, affirming Ghanaian investor JonahCapital as the original owners of the estate.
Speaking on Channels TV on September 19, 2025, Wike stated that the FCT administration signed an agreement with JonahCapital Nigeria Ltd promoted by Sir Samuel Esson Jonah to develop the estate located on Plot 4, Cadastral Zone E30, Lugbe, Abuja, during the tenure of President Olusegun Obasanjo.
He added that JonahCapital, the original owner, subsequently brought in a third party, Paulo Homes, to assist in obtaining building approvals from the FCT Development Control.
“Their lawyers made presentations. Look, what happened is terrible. First of all, we don’t have any business with Paulo Homes; there is no agreement between the FCT and Paulo Homes nothing! The only entity we signed an agreement with is JonahCapital Ltd,” he stated.
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The minister noted that although JonahCapital breached its agreement with the FCT by involving Paulo Homes, who continued to obtain Certificates of Occupancy (C of O) for buyers without a valid lease agreement, the development lease had expired by the effluxion of time.
Wike explained that the FCT administration decided to demolish the properties hastily developed by Paulo Homes and withdraw all Certificates of Occupancy issued to the company on behalf of unsuspecting buyers, in order to reissue them directly to Nigerian owners for their protection.
Providing further details on the recent demolitions at River Park Estate, Wike said, “I know the system and how they operate. They will rush any matter to court, and before you know it, the minister is out. When he leaves, another minister comes in, and it becomes very difficult to resolve.”
SP/EB
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