JonahCapital Nigeria Limited, a Ghanaian-owned developer, has accused Nigeria's Federal Capital Territory (FCT) Minister, Chief Nyesom Wike, of fueling a “sustained xenophobic campaign” against Ghanaian investors. This accusation follows a police-backed operation at one of the company’s facilities in Abuja on June 29, 2026. Armed policemen reportedly escorted individuals into The Gallery Clubhouse, a recreational facility owned by JonahCapital, raising concerns about property rights and investor safety.
The company's Chief Executive Officer, Mr. Kojo Ansah Mensah, stated that attacks on JonahCapital’s investments stem from Wike’s decisions regarding River Park Estate ownership. Mensah alleges Wike first acknowledged JonahCapital as the Development Lease Agreement holder before terminating the arrangement. This reversal, he claims, created conditions for third parties to try and seize lands and assets developed by JonahCapital over many years. This dispute involves significant investments and potentially affects Ghana-Nigeria economic relations.
This incident fits into a broader narrative of challenges faced by foreign investors in some African countries. Concerns about property rights and the rule of law can deter foreign direct investment, which is crucial for economic development. Ghana and Nigeria are key trading partners, and any perceived hostility towards Ghanaian businesses in Nigeria could impact bilateral economic confidence. This type of incident can also influence perceptions of political stability, a key factor for international investors.
Mr. Mensah of JonahCapital has explicitly alleged that the actions have moved beyond commercial disputes to raise “serious concerns regarding xenophobia and the treatment of foreign investors in Nigeria.” He highlighted that Ghanaian-owned investments now appear vulnerable to “encroachment, intimidation, exclusion, and repeated attacks.” Residents and observers, including Sajay Omagbemi, have urged Inspector-General of Police Olatunji Disu to investigate transparently. They fear generating an impression of hostility toward foreign investments, similar to xenophobic tensions seen in South Africa.
The Police Divisional Officer for River Park Estate, Adeagbo Olatunji, confirmed knowledge of the incident. He indicated both parties have been invited to clarify events. However, he also noted police have been advised not to interfere in land disputes, a claim Mensah disputes. The outcome of this investigation and the Nigerian government's response will be closely watched by the Ghanaian business community and international investors. Potential legal and diplomatic repercussions could arise depending on how authorities address JonahCapital's allegations.
This is not the first time JonahCapital has faced disputes over its investments in Nigeria. Court cases, police investigations, and public exchanges have marked the past two years. In mid-2025, JonahCapital directors, including Sir Samuel Esson Jonah and Kojo Ansah Mensah, sued Nigeria’s Inspector General of Police and other officials. They demanded GHS 200 million in damages over alleged unlawful intimidation and an attempt to suppress a police investigation report. That case dates back to 2013, involving a joint venture with Paulo Homes, where JonahCapital alleges breach of contract. Both the Ghanaian High Commission and Nigeria's Attorney-General have requested the release of a Special Investigation Panel's findings, without success. This ongoing pattern suggests systemic issues in investor protection need addressing.