BY SAHARAREPORTERS, NEW YORK JUN 24, 2016
The Abuja Investment Company, the investment sector of the Federal Capital Territory Administration (FCTA), evicted controversial newspaper publisher Nduka Obaigbena and his company, ThisDay, from ThisDay Dome in Abuja on Friday.

Last week, a Court of Appeal gave a judgment approving the eviction of the debt-ridden publisher from the property. The court case arose from the failure of Mr. Obaigbena’s company to pay an outstanding balance on a lease agreement pertaining to the property.

The publisher has been in the news lately for firing some of his editorial employees who demanded payment of a huge backlog of salaries. Reporters and other staff of Mr. Obaigbena’s ThisDay newspaper are being owed salaries for more than a year.

Moments after taking over the property from the court bailiff, the Group Managing Director/Chief Executive Officer of Abuja Investment Company Limited (AICL), Musa Ahmed Musa, declared that the court “is indeed the last hope of the common man.”

Mr. Musa recalled that Plot 702 Cadastral Zone A00, CBD in Abuja was in 2009 allocated to AICL, adding that the company thereafter signed a two-year lease agreement with Messrs Leaders and Company (Publishers of ThisDay Newspaper) in respect to the property, now popularly called “ThisDay Dome Arena.” The lease agreement was effective from May 1, 2009.

Mr. Musa stated, “The total rent payable for the term was ₦97,094,284.02, of which Messrs. Leaders & Company deposited the sum of ₦57,558,854.73 as part payment. The lease agreement provided that the balance of the rent in the sum of N39,495,429.30 was to be paid on or before August 31, 2009.

“In spite of several requests for payment, however, the balance of the rent remains outstanding as Messrs. Leaders & Company has flagrantly refused to pay.”

The AICL’s chief executive disclosed that, due to the unpaid lease balance, the investment company on April 13, 2011, wrote to Mr. Obaigbena’s company indicating unwillingness to renew the lease that expired on April 30, 2011. In the termination letter, AICL also demanded that Messrs. Leaders & Company vacate the property at the end of the lease period.

Mr. Musa said that the debtor company ignored the notice to quit the property, adding that the company’s recalcitrant behavior was due to its being a media house. He accused Mr. Obaigbena’s company of threatening to use the media to blackmail AICL and FCTA to back away from collecting rent and also to forfeit its rights to the property.

According to him, AICL ignored the blackmail and decided to resort to the law courts for remedy. In 2012, the investment firm filed a lawsuit against Mr. Obaigbena’s company to recover the property. After the court ruled in AICL’s favor in 2014, Messrs. Leaders & Company filed an appeal. On June 16, the Court of Appeal dismissed the Thisday publisher’s appeal, granting AICL the right to re-possess its property. The appellate court also dismissed an application by Mr. Obaigbena’s company for a stay of execution.

At today’s handover ceremony, Ms. Ada Amadi of AICL’s legal department announced that the Court of Appeal also awarded the investment firm more than N197 million, representing outstanding rent due on the property. Ms. Amadi disclosed that the structure built by ThisDay at the site would be evaluated to ascertain its value, adding that, if it was not up to the outstanding rent of N197 million, the investment company would pursue the balance through a legal garnishing procedure.

http://saharareporters.com/2016/06/24/federal-capital-territory-admin-evicts-thisday-publisher-obaigbena-thisday-dome

The war is total. Any opposing voice must be crushed. But hunger keeps ravaging the people.
Is he the only one owing in this country?

Operation crush all dissenting voice.

Good job dullardeen.

Nice development I must confess. Ndukas era of blackmailing the govt is over. He is a specialist in that.

"Ohin mmo"

Call it whatever you want! This is new Nigeria where the law doesn't succumb to blackmail by corrupt unscrupulous elements! Just because the structure is government owned they decide not to pay rent.
Abeg Zenith never release press statement yet? That Fayose witch-hunt is the next sweetest show o.

It seems many so-called wealthy Nigerians had been living on borrowed money, while employing government patronage to keep their creditors at bay.

Unlike Ben Bruce, I am very much aware that this Nduka fellow has been living like a spoilt child and partying with the likes of Lil Kim and perpetually holidaying at the most expensive hotels in New York.

A grown ass man trying to behave like dem boyz in tha 'hood.

ikaboy:
Nice development I must confess. Ndukas era of blackmailing the govt is over. He is a specialist in that.

That guy brain is full of crooks Nduka awon nooni

EazyMoh:
Call it whatever you want! This is new Nigeria where the law doesn't succumb to blackmail by corrupt unscrupulous elements! Just because the structure is government owned they decide not to pay rent.
Abeg Zenith never release press statement yet? That Fayose witch-hunt is the next sweetest show o.

You don chop ?

Someone who took up a lease way back in 2009 and had some outstanding payment, then in 2011 the owners wrote him to quit their property which he refused and decided to take him to court, the appeal court finally ruled in 2016 and some say it is witch hunt!

I only wish those crying victimization should be bold enough to owe their landlords so they can have the opportunity to accuse Buhari when their landlords throw them out!

SeverusSnape:
Operation crush all dissenting voice.

Good job dullardeen.

The Appeal court delivering judgement on someone defaulting on a legally binding agreement since 2009 means operation crush all dissenting voice. If you have a property just make sure tenants defaulting on their rents are not shown the way out even through the court because if you do, you sure know what you are!

hmmm

Imagine the level of atrocity perpetrated during Gej era both in public and private sector. These people believed Gej is there and no one can tamper with them no matter the crime they commit. We should praise Tinubu for what he did for us or Nigeria would have been a story today. Many revelations are still coming.

Suddenly, they r jst waking up to realise this guy is a debtor? Can't wait to see wat hapns aftr 2019 wen another govt takes over.

Last week, a Court of Appeal gave a judgment approving the eviction of the debt-ridden publisher from the property. The court case arose from the failure of Mr. Obaigbena’s company to pay an outstanding balance on a lease agreement pertaining to the property.


Is this another wizard hunts? It is like this Amcon and the likes are now bold to challenge anybody legally.

Mr. Musa recalled that Plot 702 Cadastral Zone A00, CBD in Abuja was in 2009 allocated to AICL, adding that the company thereafter signed a two-year lease agreement with Messrs Leaders and Company (Publishers of ThisDay Newspaper) in respect to the property, now popularly called “ThisDay Dome Arena.” The lease agreement was effective from May 1, 2009.

Mr. Musa stated, “The total rent payable for the term was ₦97,094,284.02, of which Messrs. Leaders & Company deposited the sum of ₦57,558,854.73 as part payment. The lease agreement provided that the balance of the rent in the sum of N39,495,429.30 was to be paid on or before August 31, 2009.
na them ruin banks, na them eat yams, na them owing salaries, na them dey subsidy cabals. na them they owe huge debts everwhere?? Why them? why ?

The kind of comments and approach to issues on nairaland show how our educational system have failed Nigerian and how backward most Nigerian graduates are....

It's baffling seeing hipster/social media generation possess the same mentality with their ancestors

Actually, d aisha muhammad buhari and buratai's wives corruption cases go sweet pass

EazyMoh:
Call it whatever you want! This is new Nigeria where the law doesn't succumb to blackmail by corrupt unscrupulous elements! Just because the structure is government owned they decide not to pay rent.
Abeg Zenith never release press statement yet? That Fayose witch-hunt is the next sweetest show o.

Justice at last. Even though it can be delayed, it cannot be denied.

sahara desert abi sahara reporters, exposing ppl since 18AD kudos

bull crap!

Season of eviction and takeover

EazyMoh:
Call it whatever you want! This is new Nigeria where the law doesn't succumb to blackmail by corrupt unscrupulous elements! Just because the structure is government owned they decide not to pay rent.
Abeg Zenith never release press statement yet? That Fayose witch-hunt is the next sweetest show o.

abeg speak pidgin I no hear d grammar u blow ......

kaorama:
The war is total. Any opposing voice must be crushed. But hunger keeps ravaging the people.

U should cover ur face in shame....
U guys are devoid of intelligent reasoning

iaamxavier:
nn

nn for no no

Pavore9:


The Appeal court delivering judgement on someone defaulting on a legally binding agreement since 2009 means operation crush all dissenting voice. If you have a property just make sure tenants defaulting on their rents are not shown the way out even through the court because if you do, you sure know what you are!

You dey blame them? Hatred is making their brains to work in reverse direction...

SeverusSnape:
Operation crush all dissenting voice.

Good job dullardeen.

Operation shut down all blocked brains

kaorama:
The war is total. Any opposing voice must be crushed. But hunger keeps ravaging the people.

Senseless comment. Shame!

martineverest:
The kind of comments and approach to issues on nairaland show how our educational system have failed Nigerian and how backward most Nigerian graduates are....

It's baffling seeing hipster/social media generation possess the same mentality with their ancestors

I tire o. If some companies say Nig graduates are unskilled, unemployable these so-called graduates who used chukuli and bullets to cross WAEC/GCE, Jamb...will the loudest voices to cry"insults "

Hmm

kaorama:
The war is total. Any opposing voice must be crushed. But hunger keeps ravaging the people.

I guess he's justified to owe such huge debt then since he's an opposing voice that is being crushed when he could have kept his house in order so that he can't be crushed.

But this is really getting sad.Must everybody support only one person-

Pavore9:


The Appeal court delivering judgement on someone defaulting on a legally binding agreement since 2009 means operation crush all dissenting voice. If you have a property just make sure tenants defaulting on their rents are not shown the way out even through the court because if you do, you sure know what you are!

Hypocrite is their dedicated name in the dictionary. Awon Oloshi!

buksaylor001:
But this is really getting sad.Must everybody support only one person-

Hmm..your comment proves you did not read the original post. This is about someone owing rent sine 2009 and not about PDP vs APC!