Kosoko Royal Family Disowns TBT Properties, Abiola Olojo-Kosoko, Reaffirms Chief Akindele’s Authority on Ogombo Land

Ranti Thomas 8 hours ago 3 min read

The Kosoko Royal Family has disowned any purported appointment of TBT Properties Limited and Prince Abiola Olojo-Kosoko to conduct land transactions on its behalf at Ogombo Village, Eti-Osa Local Government Area of Lagos State, insisting that neither party has its authorisation to negotiate, sell or allocate the property.

At a press conference, the family stated that it had not appointed TBT Properties Limited, represented by Timothy Ogbonna, as its attorney for dealings involving 114.478 hectares of land at Ogombo. It warned prospective purchasers, investors, developers and property agents against relying on any purported authority that had not been approved by the family’s recognised leadership.

The family’s position was conveyed in a public notice disclaiming the alleged appointment and rejecting unauthorised dealings involving the property. It stated that any negotiation, sale, allocation, collection of money or other transaction undertaken by TBT Properties Limited or Prince Abiola Olojo-Kosoko without the consent of the family head or its duly authorised representatives should not be treated as an authorised transaction of the Kosoko Royal Family.

The family’s legal adviser, Tokunbo King, Esq., of Kins & Co. Barristers and Solicitors, was identified as the lawyer representing the family in connection with its position on the matter.

The notice stressed that the family would not accept responsibility for agreements, receipts, allocations or other commitments entered into by the named parties without the necessary authorisation. It maintained that anyone claiming to represent the family in dealings over the land must be able to establish that authority.

The warning was directed at members of the public who may be approached with offers involving the Ogombo property. The family advised prospective buyers and investors to confirm the legitimacy of any claimed mandate before signing agreements, paying money or making other financial commitments.

It also urged anyone who had already received an offer, allocation, receipt or agreement relating to the land to seek clarification before taking further steps. The family said the notice was intended to prevent unauthorised transactions from being presented as dealings approved by its leadership.

The Kosoko Royal Family further reserved the right to pursue appropriate civil, criminal, regulatory and other legal remedies against parties involved in transactions it considers unauthorised.

Beyond its disclaimer concerning TBT Properties Limited and Prince Abiola Olojo-Kosoko, the family also reaffirmed its recognition of Chief Akindele Akinfolabi of Adamakin Investment Limited as the Sole Power of Attorney of Madam Iyalode Efunroye Tinubu in respect of the relevant estate interests.

In a separate rejoinder concerning the enforcement of the Ogombo judgment, the family expressed support for Chief Akindele’s lawful efforts to implement the court’s decision. It disputed a publication attributed to TBT Properties Limited and signed by Timothy Ogbonna, stating that the publication did not represent the family’s position on the enforcement matter.

The judgment referenced in the rejoinder was delivered on November 12, 2024, by Justice O.O. Ogunjobi of the Lands Division of the High Court of Lagos State, Court 37, in Suit No. LD/12881LMW/2022. The court adopted the Terms of Settlement reached by the parties.

The settlement concerns 114.476 hectares of land at Ogombo Village, Eti-Osa, covered by Survey Plan No. OGJ/5283/006/2023/LA, dated October 26, 2023, and provides for N1.5 billion in settlement and compensation.

The family maintained that the enforcement issue should be understood as the implementation of an existing court judgment and the settlement adopted by the court, rather than an attempt to obtain a fresh judgment. It also stressed that persons or organisations claiming to speak on its behalf should possess the appropriate authority.

The rejoinder was issued in the names of Alhaja (Chief) Mutiat Ashabi Abimbola Alli-Balogun, identified as Oloriebi General of the Kosoko Royal Family, and El-Hajj (Prince) Sikiru Adeoye Kosoko, the family’s General Secretary. The document gives the family’s address as 32, Ereko Street, Kosoko Palace, Idumota, Lagos.