Ghanaian industrialist Sam Jonah has formally petitioned Foreign Affairs Minister Samuel Okudzeto Ablakwa over alleged unlawful actions by Nigeria’s Corporate Affairs Commission that he claims threaten his ownership interests in JonahCapital Nigeria Limited and Houses for Africa Nigeria Limited. The detailed 11 page petition dated December 13, 2025, outlines a complex dispute over River Park Estate in Abuja, accusing Nigerian authorities of expropriating shares and sidelining courts despite ongoing litigation.
According to the petition cited by multiple media outlets, Registrar General Hussaini Ishaq Magaji cancelled all corporate filings for both companies on December 8, 2025, effectively reverting their status back to incorporation dates of 2006 and 2007 respectively. Sir Sam stated that to his utter shock, upon checking company status reports, he discovered entire corporate records had been cancelled despite a court injunction barring such actions. The cancellation allegedly reduced his shareholding and was based on a disputed police report contradicting findings of a 10 member Special Investigation Panel.
The matter involves ongoing disputes surrounding River Park Estate, a large residential development in Abuja. JonahCapital Nigeria Limited was established in 2006 with the goal of developing mass housing in Nigeria, with Sam Jonah holding 40 percent of shares and two other individuals holding 30 percent each. In 2007, JonahCapital invited United States based investor Houses for Africa Holdings Inc to participate, leading to incorporation of Houses for Africa Nigeria Limited on February 7, 2008.
Over time, ownership interests in the companies changed through complex share restructuring that eventually left Sam Jonah’s entities as primary holders. The petition highlights concerns regarding activities by an agent reportedly engaged by one of the companies to facilitate certain approvals and developments. Jonah’s submission describes alleged misrepresentations concerning ownership and development rights involving Nigerian businessman Paul Odili, owner of Paulo Homes.
Sir Sam accused Odili of falsely claiming to the public that he owns River Park Estate which is actually owned by Jonah. He added that Odili’s company along with two others has been encroaching on the park’s land and has even sold some properties belonging to his companies. Paul Odili has wrecked serious havoc on business interest in River Park Estate including selling properties in excess of 120 hectares in various clusters such as Clusters 1A and 5A.
The petition references a police report issued by the Inspector General of Police Monitoring Unit that overruled a report by a Special Investigation Panel established to investigate allegations of forgery against Paul Odili. Deputy Commissioner of Police Akin Fakorede of the IGP Monitoring Unit single handedly jettisoned what the 10 member SIP panel painstakingly investigated and hurriedly generated a second investigation report released via telecast on June 27, 2025. The report shockingly indicted Sir Sam and other officers while declaring Paul Odili of Paulo Homes the owner of River Park Estate.
Sir Sam stated that just before the SIP report could be given to parties, Paulo Homes clandestinely requested further investigation of the petition and complaint already investigated by the SIP via a petition dated April 10, 2025, to the IGP Monitoring Unit. The IGP Monitoring Unit interestingly approved the petition on the same date of April 10, 2025, that it was submitted, raising questions about procedural fairness. How a report yet to be released to any parties could be the subject of Paul Odili’s later petition remains a mystery.
By cancelling filings dating back almost two decades, the companies have been placed in automatic default of the CAC’s own requirements as share capital of the companies is now one million shares, thereby exposing them to penalties and operational disruption. These abrupt cancellations will affect ability to manage ongoing projects as well as protect land, subscribers and other assets. It also exposes staff both local and foreign to risk of wrongful termination by individuals whom Magaji has purportedly installed as management.
Jonah’s petition requests diplomatic engagement and support including urging the Nigerian Attorney General to review relevant police reports, seeking reversal of administrative actions that could affect ownership or development rights, alerting ECOWAS regarding regional investment protections and engaging the Nigerian government through the Ministry of Industry, Trade and Investment overseeing corporate affairs. Sir Sam emphasized that his submission aims to protect interests of Ghanaian investors in Nigeria while ensuring all actions are consistent with applicable law.
Foreign Affairs Minister Samuel Okudzeto Ablakwa has taken the matter to ECOWAS, presenting a petition at the 95th Ordinary Session of the ECOWAS Council of Ministers held in Abuja from December 10 to 12, 2025. Ablakwa raised concerns over what he described as unfair treatment and harassment of Ghanaian businesses by Nigerian authorities, specifically citing the Jonah Capital case as an example of alleged victimization. The Foreign Affairs Minister formally presented a petition on behalf of the company urging the ECOWAS Council to intervene.
The alleged expropriation reportedly occurred while court proceedings were already pending, with formal service effected on the CAC on November 28, 2025, raising serious questions about due process, judicial respect and regulatory overreach. The issue has triggered concerns within political ranks in Nigeria as it is being purported that Hussaini Ishaq Magaji allegedly constituted a court of his own, tried and proceeded to illegally alter shareholding while expunging public records and removing duly appointed directors.
Despite being formally petitioned, Nigeria’s Minister of Trade Dr. Jumoke Odewole has yet to issue a public response, a silence that has deepened concern among investors and the foreign business community. Similar petitions were filed by the companies’ Managing Director Kojo Ansah Mensah at Nigeria’s House of Representatives and the country’s Independent Corrupt Practices Commission seeking intervention from multiple Nigerian institutions.
The petition warns that the CAC’s action has created severe risk of asset dissipation and renders the companies incapable of defending themselves in ongoing court cases. Jonah notes that court proceedings are currently underway to address disputes over company filings and land allocations. The statesman emphasized there was a deliberate and illegal attempt orchestrated by an agent employed by company directors to cause these developments.
The case highlights broader challenges facing Ghanaian businesses operating in Nigeria despite ECOWAS protocols designed to facilitate regional investment and economic integration. Nigeria remains a key market for Ghanaian businesses within the ECOWAS region but recurring disputes over business ownership, regulatory actions and enforcement procedures create uncertainty for cross border investors. The outcome of this high profile case could influence future Ghanaian investment decisions in Nigeria and test ECOWAS mechanisms for protecting regional investment.
Sir Sam Jonah ranks among Ghana’s most prominent business figures with extensive investments across multiple African countries. He previously served as Chief Executive Officer of Ashanti Goldfields Company, now AngloGold Ashanti, transforming it into one of Africa’s premier mining companies. His reputation and track record in corporate governance lend significant weight to allegations of procedural irregularities in the Nigerian Corporate Affairs Commission’s handling of his companies.
The River Park Estate dispute illustrates complexities of real estate development in Nigeria where land allocation procedures, title documentation and regulatory approvals can become contentious. Abuja’s property market has witnessed numerous ownership disputes involving both domestic and foreign investors as the capital city expands rapidly. Projects involving multiple stakeholders, changing ownership structures and protracted development timelines create opportunities for competing claims and regulatory intervention.
Looking ahead, resolution of the dispute likely requires coordinated diplomatic engagement alongside legal proceedings in Nigerian courts. The involvement of Ghana’s Foreign Affairs Ministry elevates the matter to bilateral relations level between two major ECOWAS member states. ECOWAS mechanisms for dispute resolution and investment protection will be tested by the case, potentially establishing precedents for how the regional body addresses allegations of unfair treatment of cross border investors.
The petition comes at a sensitive time for Ghana Nigeria relations as both countries navigate economic challenges including currency pressures, debt management and efforts to boost intra African trade and investment. Successful resolution could strengthen regional economic integration by demonstrating that ECOWAS protocols effectively protect investors across member states. Conversely, failure to address the concerns could discourage cross border investment within the region and undermine confidence in regional economic community mechanisms.