Institutional Failures May Endanger FDI, Says Townley-Johnson

Bennett Oghifo

A South African investor and chief executive of a U.S.-incorporated firm has accused Nigerian institutions of failing to protect foreign investors, warning that the situation could further deter Foreign Direct Investment (FDI) into the country.

John Townley-Johnson, CEO of Houses for Africa Holdings (HFAH), said his prolonged ownership dispute over Houses for Africa Nigeria Limited (HFAN) and the River Park Estate project in Abuja illustrates systemic weaknesses in regulatory and judicial safeguards.

Townley-Johnson is locked in a long-running dispute with Ghanaian businessman Sam Jonah over control of HFAN, the investment vehicle behind the 500-hectare River Park Estate near the Abuja International Airport. He alleges that documents bearing forged signatures were used to transfer shares in HFAN from HFAH Inc. to Jonah and that his complaints to the Corporate Affairs Commission (CAC) were not adequately investigated. He said fresh forensic evidence obtained in February 2026 supports his forgery claims, and that earlier police forensic tests validated the alleged irregularities.

The investor further claimed that after the Inspector-General of Police (IGP) filed criminal charges over the disputed share transfers, the Attorney-General of the Federation intervened and discontinued the prosecution.

He also cited a January 2026 courtroom incident in which an Abuja High Court judge, Justice Modupe-Osho Adebiyi, publicly alleged that an attempt was made to influence her ruling in the case improperly. The judge reportedly declared in open court that she could not be induced to compromise justice and alleged that an intermediary was used to influence the proceedings.

The dispute has been compounded by executive action affecting the River Park Estate. On 2 September 2025, an FCT Ministerial Committee, set up by FCT Minister Nyesom Wike, reviewed a 2007 Development Lease Agreement issued under the former FCT Minister, Nasir El-Rufai.

Following the review, the minister cancelled the 19-year-old lease over alleged contractual breaches, and parts of the estate were bulldozed. Townley-Johnson and other affected stakeholders subsequently secured a stay of action and a judicial review, with the matter scheduled for hearing on 27 February 2026.

Townley-Johnson also referenced a 2026 UK forensic report by Adam Brand Consultancy, which he said confirmed that his signature was forged on CAC documents used to transfer majority ownership of HFAN.

He maintained that earlier reports by Nigerian Police experts and UK-based Key Forensics similarly found evidence of forgery involving millions of dollars in assets. The controversy further includes a claim that former President Olusegun Obasanjo allocated 501 hectares of River Park land to Jonah in 2007—an assertion Obasanjo publicly denied.