Business

Lekki Free Trade Zone Land Dispute Sparks Outrage: Beneficiaries Demand Justice

Published

3 years ago

September 21, 2023

Lekki Free Trade Zone Land Dispute Sparks Outrage: Beneficiaries Demand Justice

The Association of Free Trade Zone Parcel B Government Resettlement Families & Communities Beneficiaries, tagged Parapo of Abomiti, Yegunda, and Eyin-Osa, at a mega press conference held on Wednesday at Epe Local Government Secretariat, Lagos State has addressed the several controversies and dispute involving allegations of land grabbing and fraudulent land sales which continues to escalate on their resettlement land.

The association also expressed unwavering support for Hon. Saheed Mosadoluwa Abdullah Ibile and his company, Harmony Gardens & Estate Development Ltd., asserting that he had legitimately acquired a significant portion of the resettlement land. They categorically refuted allegations suggesting otherwise, terming them as misleading and deceptive.

The press statement made available to our reporter expressed profound concerns regarding the involvement of individuals like Murphy Adebare, the chairman of Topaz Garden and Nola Adetola, better known as Itunu, in alleged land grabbing. It was claimed that these individuals had gone to the extent of engaging hired assassins and recruiting certain police officers to forcefully take possession of the land.

The Association called upon CSP Ishola Jejeloye, the Chairman of the Lagos Task Force, to carefully consider his association with individuals alleged to be involved in land grabbing. They emphasized that the land in question was designated as government resettlement land, and any unlawful actions were against the interests of the Lagos State Government.

The press release raised questions about the directives given by CP Idowu, particularly concerning the alleged forcible takeover of the land by Topaz and Itunu. Citing two separate police investigation reports and legal advice from the Attorney General of Lagos State, the Association challenged the propriety of these actions.

The beneficiaries asserted that they had never sold land to Murphy Adebare (Topaz Garden), Babatunde Olalere Gbadamosi, or Dotun Hassan. They also disassociated themselves from land transactions involving Nola Adetola (Itunu/Veritasi), condemning such transactions as fraudulent and conducted under false pretenses.

The Association further expressed deep concerns about the involvement of certain parties, including Yahaya Ayodele, Araba Shoye, Oba Ganiyu Awokoya, Muraina Banjoko (Threeco), and Oba Olusegun Awokoya, in alleged alienation of their resettlement beneficiaries without consent. These actions were claimed to have facilitated fraudulent real estate transactions that endangered unsuspecting buyers.

However, Urgent action was requested from the Epe Local Government to intervene by petitioning relevant agencies. The beneficiaries alleged that certain individuals had forged agreements with landgrabbers disguised as police officers, colluding with Murphy Adebare of Topaz Garden and Nola Adetola in their unlawful activities.

The press release clarified that the tenure of the Central Working Committee (CWC) as an ad hoc committee had expired. While initially empowered to represent their interests, the CWC was alleged to have acted against their interests, including selling land without consent and diverting compensation funds for personal gain. The beneficiaries distanced themselves from these actions.

The beneficiaries reaffirmed their support for Hon. Saheed Mosadoluwa Abdullah Ibile and his company, Harmony Gardens & Estate Development Ltd., emphasizing his commitment to their welfare and security.

The Association addressed allegations made by certain individuals, including Dotun Hassan, Babatunde Olalere Gbadamosi, and Adeyinka Igbinoba, which had been published in various media outlets. They asserted that these allegations were unfounded and propagated to tarnish Mr. Saheed Mosadoluwa Ibile’s reputation.

The Resettlement Families & Communities Beneficiaries underlined their commitment to protecting the rights and interests of genuine resettlement beneficiaries and landowners despite ongoing disputes.

The call was made for relevant authorities to conduct thorough investigations into the matter and take appropriate actions to ensure justice prevails. The Association highlighted the collective responsibility to preserve the rule of law and safeguard the rights of legitimate landowners and investors.

This contentious land dispute remains a developing situation, with further investigations anticipated as authorities delve into the claims and allegations made by all involved parties.

Bank

Atlantian Crown Bank Rebrands as Arizona Global Bank LLC, Begins Licensing for Global Expansion

Published

9 hours ago

May 12, 2026

Sahara Weekly

Atlantian Crown Bank Rebrands as Arizona Global Bank LLC, Begins Licensing for Global Expansion

_By AGP News

*UNITED KINGDOM OF ATLANTIS* — In a move signaling a push into international markets, the Royal Throne of the United Kingdom of Atlantis on Sunday announced the corporate transformation of Atlantian Crown Bank LLC into *Arizona Global Bank LLC*, as part of a wider restructuring to position the institution for global banking and financial innovation.

The announcement was made at a press conference in the UKA capital by *HRM Queen Amb. Cletus C. Leaticia*, Chief Executive Officer of the newly named bank. She told reporters the rebranding marks _“more than a name change”_ and reflects a strategic pivot toward digital finance, cross-border investment, and modern banking standards.

_“This transformation represents our commitment to innovation-driven banking and our vision to become a globally competitive financial institution,”_ Queen Leaticia said.

*Licensing Process Underway*

According to the Department of Financial Administration and Corporate Affairs, which issued the official communication, Arizona Global Bank LLC has formally begun the process of applying for a *Banking Operational Licence* under UKA’s financial regulatory framework.

Once licensed, the bank plans to operate as a modern financial enterprise focused on four pillars:

1. Innovation-driven banking and digital financial solutions

2. Corporate financing and structured investment services

3. International financial partnerships and cross-border trade facilitation

4. Financial inclusion initiatives

Bank officials stressed that the institution will _“maintain strict compliance with all banking regulations and supervisory standards”_ set by UKA financial authorities.

*Strategic Shift Amid Global Ambitions*

Management described the rebranding as part of a broader restructuring initiative to _“strengthen the bank’s international identity, expand its global financial footprint, and align operations with contemporary banking standards.”_

Representatives called the licensing and rebranding process a _“major milestone”_ aimed at supporting economic growth, international trade, and cross-border investment initiatives.

*No Disruption to Existing Commitments*

Addressing potential concerns from clients and partners, management reassured stakeholders that _“all existing institutional commitments, operational objectives, and long-term strategic plans remain fully intact throughout the transition process.”_

The Royal Throne indicated that further updates on the licence approval, commencement of operations, corporate partnerships, and investment programmes will be released through official UKA and Arizona Global Bank LLC channels.

_The Department of Financial Administration and Corporate Affairs, Royal Throne of United Kingdom of Atlantis, issued the official statement._

Bank

Fidelity Bank grows Gross Earnings by 45.6% for FY 2025

Published

10 hours ago

May 12, 2026

Sahara Weekly

Fidelity Bank grows Gross Earnings by 45.6% for FY 2025

Lagos, Nigeria – Fidelity Bank Plc, a leading Nigerian financial institution, has announced its audited financial results for the year ended 31 December 2025, reporting Gross Earnings growth of 45.6% from N1.04 trillion in 2024 to N1.52 trillion in FY 2025, reflecting stronger topline momentum across core business segments.

The Group recorded a Profit Before Tax of N347.7 billion. This performance was underpinned by a 38.7% year-on-year increase in interest income to N1.11 trillion (FY 2024: N803.1 billion) and a 44.7% year-on-year rise in fees and commission income to N113.4 billion (FY 2024: N78.4 billion).

On the balance sheet, total assets grew by 18.6% year-on-year to N10.46 trillion (FY 2024: N8.82 trillion), while customer deposits increased by 16.1% year on year to N6.89 trillion (FY 2024: N5.94 trillion), reflecting continued franchise strength and growing customer confidence in the brand. Net loans and advances declined by 2.4% year-on-year to N4.28 trillion (FY 2024: N4.39 trillion) as customers paid down on their mature obligations.

The Bank also strengthened its capital position during the period, with eligible capital rising to N561 billion, above the regulatory minimum of N500 billion for banks with international authorisation. In addition, capital adequacy remained robust, with Capital Adequacy Ratio of 30.94 percent as at 31 December 2025 (FY 2024: 23.47 percent).

Ranked among the best banks in Nigeria, Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving over 9.1 million customers through digital banking channels, its 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.

The Bank is the recipient of multiple local and international Awards, including the 2024 Excellence in Digital Transformation & MSME Banking Award by BusinessDay Banks and Financial Institutions (BAFI) Awards; the 2024 Most Innovative Mobile Banking Application award for its Fidelity Mobile App by Global Business Outlook, and the 2024 Most Innovative Investment Banking Service Provider award by Global Brands Magazine. Additionally, the Bank was recognized as the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence and as the Export Financing Bank of the Year by the BusinessDay Banks and Financial Institutions (BAFI) Awards.

Business

ALIKO DANGOTE FOUNDATION’S FORGES PARTNERSHIP WITH ISLAMIC DEVELOPMENT BANK

Published

12 hours ago

May 12, 2026

Sahara Weekly

ALIKO DANGOTE FOUNDATION’S FORGES PARTNERSHIP WITH ISLAMIC DEVELOPMENT BANK

Ms. Zouera Youssoufou, Managing Director & CEO of Aliko Dangote Foundation (ADF) in company with Mr. Ahmed Iya, Head of Community Engagement & Polio Eradication of ADF visited Dr. Rami Ahmad, Vice President (Operations) of the Islamic Development Bank at IsDB Headquarters in Jeddah.

The delegation used the occasion to highlight the activities of the Foundation so far which made great impact on people of all races by enhancing opportunities for social change through strategic investments that improve health and wellbeing, promote quality education, and broaden empowerment opportunities for individuals and communities.

Dr. Rami also expressed his expectation of a good and rewarding partnership between the two organisations, as many member countries of the IsDB face pressing debt challenges that constrain their investments in people and livelihoods.