A shareholder in Praco Properties, located in Abuja, Chief Edozie Njoku (Onwa Ibeku), has sounded a note or warning to other stakeholders over a perceived “attempt by some persons involved to commit fraud”.
Chief Njoku made the remarks during a press conference monitored by Diaspora Digital Media (DDM) wherein he addressed stakeholders in Praco Properties, warning against fraud.
In a statement entitled “Praco Estate: Tread with Caution! Edozie Njoku Warns Chief Obioma, Olusola Oke, Prince Ukachukwu“, which he read by himself, he warned them to beware of “greed and avarice”.
Njoku recalled that as a stakeholder, he was one of those “who brought light to Praco”.
He regretted “an attempt to dispossess rightful parties through manipulation or the backdating of documents in court”.
He, therefore, warned other Praco stakeholder “not to walk the path of fraud”, rather, to “thread with caution”, specifically addressing the following persons:
- Chief Obioma Success Akagburuonye,
- Olusola Oke, SAN and,
- Prince Nicholas Ukachukwu.
Warning to Obioma, Olusola Oke, Ukachukwu
Njoku drew the attention of Nigerians to what he described as “matter that demands integrity, transparency, and accountability”.
He regretted that people mistake manipulation and deceit for intelligence, while actually they are tragic flaws that should be shunned.
Ne narrated: “Many Nigerians are familiar with the long-standing case involving Chief Success Obioma Akagburuonye and the 111 properties seized years ago by the then Minister of the Federal Capital Territory (FCT), Mallam Nasir El-Rufai.
“These properties became the subject of a prolonged legal dispute that spanned two decades.
“Following the seizure, Chief Success reportedly served 24 months in prison while the EFCC initiated prosecution in 2003.
“It took twenty years—between 2003 and 2023—before the courts finally released the properties.
“One would expect that such an experience would instill prudence and integrity, but recent actions suggest otherwise.
“During that 20-year legal ordeal, many events unfolded—some of which I was deeply and directly involved in.
“It is essential to stress that no personal ambition or material pursuit should justify actions outside the bounds of law and fairness—especially for those seeking public office or occupying leadership positions.
“If Chief Success Obioma, Prince Nicholas Ukachukwu, and Olusola Oke, SAN, choose to act outside the principles of honour and integrity, we—the other stakeholders—will resist any attempt to dispossess rightful parties through manipulation or the backdating of documents in court.
“All irregularities must be addressed transparently before this matter can progress further.”
‘Undermining the interest of others’
Njoku warned Olusola Oke not to allow his clients to unlawfully undermine the interest of others for avarice or greed.
He stated further: “As a senior lawyer, Olusola Oke, SAN must ensure that he does not knowingly allow his clients to do things that unlawfully undermine the interest of others for their material gain
“Presently, I stand at the Kugbo Property — Plots 580 and 581, covering approximately 300 hectares. This site holds symbolic importance in this entire dispute.
“Only three days ago, we attended a meeting convened by the Honourable Minister of the FCT, His Excellency Nyesom Wike, aimed at achieving a peaceful and lasting resolution among Praco International, Prince & Princess, Sunrise, and all other concerned partners.
“The peace accord seeks a transparent and equitable settlement—provided all parties act in good faith.”
“Forgery or falsification of documents”
As a stakeholder, Njoku made it clear to both Ukachukwu and Obioma that no one must be sidelined through forgery or falsification of documents.
“If any manipulations exist, they must be corrected immediately.
“Failure to do so will compel my lawyers to expose the truth in full, as I will not be part of any fraudulent enterprise.
“We cannot continue to act irresponsibly and expect divine intervention to fix our country,” he warned, demanding honesty and respect for due process.
Njoku recalled how the FCT Minister, Mr. Nyesom Ezenwo Wike, Wike was “unjustly maligned” last year when he demolished parts of the Kugbo Land.
He expressed satisfaction that Wike has once again demonstrated leadership by offering an acceptable peace framework.
He urged everyone stakeholder to embrace his resolution in good faith, as the business is large enough for everyone.
“We must correct past wrongs to move forward with credibility and fairness.”
He, therefore, gave all parties an ultimatum of five days to come clean and reconcile the discrepancies.
“Failing that, the true state of affairs will be made public and our lawyers will get to work,” he concluded.