Don't Miss


Home   >   Business   >   Harry Akande appeals court ruling over land dispute

Harry Akande appeals court ruling over land dispute

By on June 24, 2013

Business mogul, Chief Harry Akande, has filed an appeal against last week’s high court judgement, which set aside the late Justice Kayode Eso’s Court of Arbitration ruling that the Federal Airport Authority of Nigeria, FAAN, hindered the firm from its concession pact it had in 1998.

Akande, the owner of AIC Limited has been in a large parcel of land tussle with FAAN for almost two decades.

The land is proposed for the construction of a five-star hotel within the Murtala Mohammed International Airport, MMIA, Lagos.

Eso had, in his ruling delivered some years ago, ordered FAAN to pay the concessionaire $48 million being damages for the refusal of the agency to allow the company to execute the project as stipulated in the contractual agreement it had with the agency.

However, it will be recalled that FAAN, not satisfied with the ruling, had proceeded to the Lagos High Court, for succour.

FAAN, last Wednesday, got a reprieve when Justice J. Buba in his judgement, set aside the arbitration ruling.

AIC in its Notice of Appeal filed by its counsel and made available to journalists at the weekend, Prof. A. B. Kasunmu, SAN, said he was dissatisfied with the judgement of the Federal High Court, Lagos.