Wike confirms River Park Estate dispute now before international arbitration

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 firm, JonahCapital Nigeria Limited, over the River Park Estate in Lugbe, Abuja, is now before international arbitration.
JonahCapital had activated the arbitration clause in its Development Lease Agreement (DLA) against the FCDA and the Federal Capital Territory Administration (FCTA), filing a claim before the International Chamber of Commerce (ICC) in Paris to challenge what it described as the unlawful termination of the agreement and to seek appropriate reliefs.
The company said it...