Ikeja Hotel Plc has shed more light on its earlier claim that it was dragging Lagos government to the court over revocation of it Opebi Gorge land which could cost it N4.63b loss.

Ikeja Hotel Plc has shed more light on its earlier claim that it was dragging Lagos government to the court over revocation of it Opebi Gorge land which could cost it N4.63b loss.

In an updated information at Nigeria Stock Exchange on Friday, Ikeja Hotel said the land in Opebi Gorge belonging to Charles Hampton Limited which is its subsidiary with nothing to do with Sheraton Lagos Hotel nor the land on which the hotel is situated.

In the note, Ikeja Hotel said: “It has come to our notice that our statement to the Nigeria Stock Exchange in our bid to provide the market with full information on the developments in our group was misconstrued and misinterpreted by some sections of the press.


“Please note that our press release on November 3, 2020, to the Exchange is to disclose that the land in Opebi Gorge belonging to Charles Hampton Limited which is a subsidiary of Ikeja Hotel Plc, is the land in question.

“The Notice of Revocation from the Lagos State Government on the said land in Opebi Gorge has nothing to do with Sheraton Lagos Hotel nor the land on which the Hotel is situated.”

The statement also added that the revocation “has the potential to impair the assets of the group to the tune of N4.63 billion if the government succeeds.”

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