Court Cancels Alleged Plot to Hijack 30-Year-Old Property Firm

The Federal High Court in Lagos has nullified an alleged attempt to take control of a 30-year-old property company, through disputed corporate filings submitted to the Corporate Affairs Commission.

 Justice Dehinde Dipeolu, in a judgement delivered on July 24, 2026, in Suit No. FHC/L/CS/557/2017, declared illegal a purported December 5, 2014 meeting of Oyetubo Jokotade Estate Resources Ltd.

The court found that persons who allegedly were neither Shareholders nor Directors, had purportedly allotted themselves shares, assumed directorship positions and removed the company’s long-standing Secretary.

 The company and one of its founding Directors, Alhaja Amoke Okanlawon, had sued the CAC and 15 individuals, alleging that the disputed filings were part of an attempt to hijack the company through manipulation of statutory records.

 Justice Dipeolu held that the purported meeting was invalid, because those who convened it lacked the legal standing to do so and failed to comply with statutory requirements for convening and notifying persons entitled to attend company meetings.

The court consequently voided the resolutions, share allotments, changes in directorship and removal of the Company Secretary, while restraining the affected individuals from presenting themselves as Shareholders or Directors.

 The Judge ordered the CAC to expunge the disputed filings from its register, and restore Shade Ogundare & Co. as the Company’s Secretary.