FCT Minister Wike Says Abuja's River Park Estate Dispute Now Before International Arbitration

It challenged the legality of the purported termination of the Development Lease Agreement (DLA) and seeking appropriate reliefs.

The Minister of the Federal Capital Territory (FCT), Nyesom Wike, has confirmed that the estate development dispute between the Federal Capital Development Authority (FCDA) and Ghanaian-owned real estate developer, JonahCapital Nigeria Limited, over the development of River Park Estate, Lugbe, Abuja, is now before international arbitration.

JonahCapital Ltd had activated the arbitration clause against the FCDA and the Federal Capital Territory Authority (FCTA) pending before the International Chamber of Commerce (ICC), Paris, France.

It challenged the legality of the purported termination of the Development Lease Agreement (DLA) and seeking appropriate reliefs.

Speaking on the development in a media parley, the minister Wike said, “The other party has gone to arbitration, we say okay, until you finish from arbitration.”