Court strikes out $48 million land suit against FAAN

[PeoplesDaily]

From Suleiman Idris, Lagos

A Federal High Court in Ikoyi, Lagos has struke out a suit over a disputed parcel of land besides the terminal building of the international wing of the Murtala Muhammed Airport in Lagos. The Federal Airports Authority of Nigeria (FAAN) and AIC Ltd had been locked in a protracted dispute over the land.

AIC Ltd, owned by former Peoples Democratic Party (PDP) chieftain, Chief Harry Akande, claimed to have acquired the land for the construction of a hotel complex at the Murtala Muhammed Airport in Ikeja.

Delivering judgment in three separate suits over the case, presiding Judge, Justice Buba, ruled that the Arbitral tribunal, which had earlier awarded AIC Ltd the sum of $48, 124, 000, miss-conducted itself and went outside its jurisdiction in rendering the final award between the parties on June 1, 2010.

Buba declared the award null and void.

AIC Limited had filed two suits on the matter, following the award of the arbitration, seeking first, an order to set aside the decision contained in part of the final arbitration award and ask that the same be remitted back to the arbitrator for reconsideration and the arbitration be enforced.

Also FAAN had equally filed an application challenging same before both parties were locked in disputes that resulted in minor scuffle on the land in January.

A source at FAAN told our correspondent that the Federal Government has earmarked the said land for massive infrastructural development that will include an ultramodern hotel complex, a multi-storey car park and other projects, designed to expand facilities at the airport.

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