Great Nigeria Insurance Plc (GNI), on Saturday expressed sympathy with those affected by the fire that occurred during the Christmas break at No. 47/57, Martins Street, Lagos Island.
The company assured the public that it continues to operate normally and that the incident has not impacted its business operations.
A statement released today by the company stated that it holds a long-term lease on the land, granted by the Shitta-Bey Family, which is set to expire on December 31, 2036. The company constructed a 25-storey building on the property for strategic investment purposes.
The company explained that it has been involved in a prolonged legal dispute with the Shitta-Bey Family. The family filed three separate suits at both the Lagos State High Court and the Federal High Court, all of which were ruled in GNI’s favor. Subsequent appeals were filed at the Lagos Judicial Division of the Court of Appeal. In 2020, while the appeals were pending, GNI alleged that the Shitta-Bey Family forcefully took possession of the property and leased it to tenants without the company’s consent.
“GNI pursued legal recourse through a trespass action at the High Court of Lagos State. The court ordered the family to vacate the property and restrained them from further trespass. The family appealed the ruling, and the substantive suit regarding trespass remains pending.
“As a result, GNI has been denied physical access to the property for over five years and has had no dealings with the tenants or management during this period.
“The company thanked the public, stakeholders, and customers for their concern and reiterated that it does not maintain any office in the burnt building. GNI’s head office remains at No. 8 Omo Osagie Street, off Awolowo Road, Ikoyi, Lagos, where it continues to conduct its legitimate business along with its other branches across Nigeria.”
