Firm, govt face N5b suit over alleged property takeover
Familia Limited has sued Ardova Plc and the Lagos State Government at the Lagos State High Court over the alleged takeover of a property in Ikoyi, Lagos, with the claimant
Familia Limited has sued Ardova Plc and the Lagos State Government at the Lagos State High Court over the alleged takeover of a property in Ikoyi, Lagos, with the claimant seeking about N5 billion in damages.
The suit was filed following a police investigation report, which affirmed the company as the lawful owner of the property located at 12 Thompson Avenue, Ikoyi.
The dispute, according to court documents, centres on a property Familia Limited said it purchased from Forte Oil Plc in 2013, before the oil firm was later acquired and renamed Ardova Plc.
An interim police investigation report dated December 16, 2025, issued by the Force Criminal Investigation Department (FCID), Annexe Alagbon, Lagos, followed a petition by Familia Limited.
In the report signed by CSP Taiwo Oyewale, Familia Limited stated that it acquired the property from Forte Oil Plc in 2013 for N1 billion through a Deed of Assignment dated August 18, 2013, and had remained in possession of the land for about 12 years.
The company further claimed that its lease on the property was renewed and extended in February 2024 by the Lagos State Government for another 99 years.
According to the petition, two 40-foot containers bearing inscriptions claiming ownership by Ardova Plc were subsequently placed on the property.
During investigations, police said they reviewed documents submitted by Familia Limited and extended verification to the Lagos State Ministry of Lands, Alausa.
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A former Chief Finance Officer of Forte Oil Plc, Julius Owatuga, who was invited as a witness, reportedly confirmed that the property was sold to Familia Limited in 2013 and that payment was reflected in Forte Oil’s financial records for that year.
He was also said to have informed investigators that the property was not among the assets transferred when Forte Oil was later acquired and became Ardova Plc.
Familia Limited instituted a civil action at the Lagos State High Court against Ardova Plc and the Attorney-General of Lagos State.
In the suit, the claimant is seeking declarations affirming its legal and equitable title to the property, relying on a 1946 principal indenture, a 1967 land certificate registered under Title No. LO3109, and the 2013 Deed of Assignment registered at the Lagos State Lands Registry.
The company is also asking the court to declare the alleged invasion of August 8, 2025 unlawful and to hold the Lagos State Government responsible for the actions of Task Force and Monitoring Unit officials involved.
The reliefs sought include N2 billion as damages for trespass, N1 billion for defamation, N1 billion for breach of the Deed of Assignment, N1 billion in claims against the Lagos State Government for alleged violation of property rights, N48.3 million as special damages for the demolished bungalow, and N50 million as the cost of the suit.
Familia Limited is further seeking an order directing the removal of the containers from the property and a perpetual injunction restraining the defendants from further interference.
The case has been assigned to Justice Batunde Kalaro of the Lagos State High Court sitting at Osborne.
Ardova Plc is yet to file its defence, but in his statement to the police, Ardova’s Managing Director, Moshood Olajide, reportedly maintained that a search at the Lands Registry showed the property remained in the name of British Petroleum, Forte Oil’s former owner.
He also stated that the company sought police support to take possession of what it believed was its asset.
