A dispute has emerged in Nigeria’s real estate sector involving Zoe New Dawn Nigeria Limited and a former Chief of Naval Staff, following a failed property transaction valued at ₦100 million.
The Chairman and Chief Executive Officer of Zoe New Dawn Nigeria Limited, Engr. Dr. Stephen Achema Akpa, alleges that the company made payments in good faith for land connected to a transaction reportedly facilitated by the former naval chief. According to him, despite the payment being made, the property was not subsequently transferred to the company.
Engr. Akpa stated that Zoe New Dawn Nigeria Limited possesses documentation and payment records relating to the transaction and has raised concerns over the non-completion of the agreement. He described the situation as a serious contractual dispute and said the company is seeking redress through appropriate legal channels.
The matter has attracted attention within business and professional circles due to the profile of the individuals involved. Industry observers note that unresolved land transactions and contractual disagreements remain a persistent challenge within Nigeria’s real estate sector, often leading to prolonged legal battles.
Zoe New Dawn Nigeria Limited says it intends to pursue lawful avenues to clarify the circumstances surrounding the transaction and recover its investment, emphasizing the importance of transparency and accountability in business dealings.
As of the time of this report, the former Chief of Naval Staff has not publicly responded to the claims. Efforts to obtain his comments were ongoing. The matter remains subject to legal review, and no court has made a determination regarding the allegations.
