Court Voids Alleged Attempt to Hijack 30-Year-Old Property Company

The Federal High Court in Lagos has nullified what the court described as an alleged attempt to take over a 30-year-old property company through disputed corporate filings.

In a judgment delivered on July 24, 2026, Justice Dehinde Dipeolu declared illegal a purported meeting of Oyetubo Jokotade Estate Resources Ltd. held on December 5, 2014. The case, Suit No. FHC/L/CS/557/2017, involved the company and one of its founding directors, Alhaja Amoke Okanlawon, against the Corporate Affairs Commission and 15 individuals.

The plaintiffs alleged that the filings formed part of an effort to hijack the company by manipulating its statutory records. The court found that people who allegedly were neither shareholders nor directors had purportedly allotted shares to themselves, assumed directorship positions and removed the company’s long-standing secretary.

Justice Dipeolu ruled that the meeting lacked validity because those who convened it had no legal standing to do so. They had also failed to comply with statutory requirements governing the convening and notification of company meetings.

The court consequently voided the meeting’s resolutions, the share allotments, the changes in directorship and the removal of the company secretary. It also restrained the affected individuals from presenting themselves as shareholders or directors. The Corporate Affairs Commission must expunge the disputed filings from its register and restore Shade Ogundare & Co. as the company’s secretary.