We No Longer Manage Burnt Building – Great Nigeria Insurance

The management of Great Nigeria Insurance (GNI) Plc while sympathising with the victims of the unfortunate fire incident that occurred during the Christmas break at GNI Building on Martins Street, Lagos Island, noted that, it no longer managed the building.

A statement from the insurer clarifies the situation in the wake of the incident in which most people believes the underwriting firm still manages the building.

“We wish to state for the records that Great Nigeria Insurance Plc. (GNI) was granted a long lease of bare land at No. 47/57, Martins Street, Lagos Island by the Shitta-Bey Family and this lease is due to expire on the 31st of December, 2036. GNI erected a 25-storey building on the said land for strategic investment purposes (the property).

“It is noteworthy that GNI has since been in court with the Shitta-Bey family on the property because the family instituted three separate suits against GNI at both the Lagos State High Court and the Federal High Court.

All the suits were decided in favour of GNI, ” it pointed out.

Thereafter, it said, the family filed separate appeals in the Lagos Judicial Division of the Court of Appeal, adding that, “in the year 2020, during the pendency of these appeals, the Shitta-Bey family, in utter disregard of the court orders in the suits between it and GNI, and during the subsistence of the unexpired leasehold of GNI; resorted to self-help, forcefully entered, and took over possession of the property.”

The Shitta-Bey family, it noted, also proceeded to lease out the property to tenants without recourse to GNI.

“As a responsible corporate organisation with its cherished corporate image to protect, GNI followed the legal path by approaching the High Court of Lagos State through a trespass action.

“The High Court ordered the Shitta-Bey family to vacate possession of the property and also restrained the family from continuing with further acts of trespass on the property. The family, being dissatisfied, appealed against the said ruling of the court. In the interim, the substantive suit challenging the family for trespass is still pending at the Lagos Judicial Division of the High Court of Lagos State, ” it stressed.

Consequently, it emphasised that, GNI has, for over five years, been denied physical possession of the property, adding that, “Our

company neither has any dealings whatsoever with the management nor with any of the tenants occupying the property for these years. We wish to thank the general public, our numerous stakeholders, especially our customers for their concern, and to reassure them that this fire incident has not affected our operations in any way.”

Saying that, GNI does not maintain any office in the burnt building, nor does it conduct any operations whatsoever therein, it stated that, “our head office remains at No. 8 Omo Osagie Street, Off Awolowo Road, S.W, Ikoyi, Lagos and we continue to conduct our legitimate businesses therein, and in all our other branches in Nigeria.”