Renowned Ghanaian businessman and mining executive Sir Sam Jonah has commenced international arbitration proceedings against the Nigerian government over a disputed 501-hectare property in Abuja, with the case being heard under the auspices of the International Chamber of Commerce (ICC) in Paris.
The dispute centres on the termination of a development lease held by JonahCapital Nigeria Limited, a subsidiary of Sir Sam Jonah’s investment group. The property, located near the Nnamdi Azikiwe International Airport, was allocated to the company in 2007 under Nigeria’s Mass Housing Scheme.
JonahCapital subsequently developed the site into River Park Estate, a major residential and commercial development comprising homes, commercial facilities, healthcare centres, offices and places of worship.
The company maintains that its development lease remains valid until June 2030. However, the Federal Capital Development Authority (FCDA) terminated the lease in November 2025, prompting JonahCapital to challenge the decision through international arbitration.
The company argues that the termination was unlawful and breached the terms of its development agreement with the Nigerian authorities.
In its arbitration claim, JonahCapital alleges that the Nigerian government failed to meet several of its contractual obligations. Among its complaints is the alleged failure by the FCDA to provide essential infrastructure, including roads, electricity and water.
According to the company, it was consequently forced to finance and undertake significant infrastructure works at its own expense.
JonahCapital has also raised concerns over building approval fees and alleged that portions of the disputed property have been fenced off while the arbitration proceedings are ongoing.
The company further claims that it incurred substantial costs defending River Park Estate against third parties who attempted to assert ownership over portions of the development.
The allegations have not yet been determined by the arbitration tribunal.
Nigeria’s Minister of the Federal Capital Territory, Nyesom Wike, has confirmed that arbitration proceedings are underway and said the government would allow the process to run its course.
“The other party has gone to arbitration and we say okay, until you finish from arbitration,” Mr Wike said.
The minister, however, maintains that the government acted lawfully in recovering the property after the development lease expired. He has also argued that some of the developments and approval processes associated with the estate were undertaken by Paulo Homes Limited, a separate company engaged by JonahCapital.
The property dispute comes amid a separate criminal case against Sir Sam Jonah and several other individuals before the Federal Capital Territory High Court.
The 26-count case includes allegations of 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 remain before the court and have not been determined.
The dispute has also attracted the attention of the Ghanaian government.
In late 2025, Sir Sam Jonah petitioned Ghana’s Foreign Affairs Minister, Samuel Okudzeto Ablakwa, expressing concerns over actions by Nigerian regulatory authorities that he said threatened his interests in the investment.
Mr Ablakwa subsequently raised concerns about the treatment of Ghanaian investors in Nigeria during an ECOWAS Council of Ministers meeting in Abuja, citing the JonahCapital dispute as an example of the challenges Ghanaian businesses face when operating in Nigeria.
The Foreign Affairs Minister had earlier visited River Park Estate and expressed support for efforts to protect Ghanaian investments abroad.
By taking the commercial dispute to ICC arbitration, JonahCapital is seeking to have the contractual dispute determined through an international arbitration process rather than Nigeria’s domestic courts. International arbitration is commonly used in cross-border commercial and investment disputes and provides mechanisms for enforcing arbitral awards across jurisdictions.
The value of JonahCapital’s claim has not been disclosed by either party. However, estimates have put the potential value of the disputed property at about US$500 million, based on prevailing property values in Abuja.
No date has yet been announced for the arbitration hearing, while the related criminal proceedings in Nigeria remain pending.
Sir Sam Jonah is one of Ghana’s most prominent business leaders. He played a pivotal role in transforming Ashanti Goldfields Company into one of Africa’s leading mining enterprises and later became President of AngloGold Ashanti following the 2004 merger of Ashanti Goldfields with AngloGold.
He has since built a diversified investment portfolio spanning mining, energy and real estate across several African countries, with the Abuja development ranking among his major property investments outside Ghana.
