The investment company of the Federal Capital Territory Administration, on Friday took over the THISDAY Dome, in Abuja.
The takeover of the popular events centre is in compliance with a Court of Appeal judgment delivered last week over N197m debt by the owners – Leaders and Company (Publishers of Thisday Newspaper).
Speaking on the development, the Group Managing Director/Chief Executive Officer, Abuja Investment Company Limited, Dr. Ahmed Musa, said the company’s failed to renew its lease which expired on April 30, 2011.
According to a statement by the Chief Press Secretary to the FCT minister, Muhammed Sule – Musa was quoted to have said, “The total rent payable for the term was ?97,094,284.02, of which Messrs. Leaders & Company deposited the sum of ?57,558,854.73 as part payment.”
“The Lease Agreement provided that the balance of the rent in the sum of N39,495,429.30, was to be paid on or before August 31, 2009.”
“In spite of several requests for payment, however, the balance of the rent remains outstanding as Messrs. Leaders & Company has flagrantly refused to pay.”
“M/S Leaders’ recalcitrant behavior was predicated on the fact that it is a media house and had made threats to use the media in blackmailing AICL and FCTA into not collecting its rent and also forfeiting its rights to the property. Notwithstanding all the propaganda, AICL resorted to the only available remedy to it which was the law courts.”