FAAN Terminates Leases Granted Bi-Courtney At MMA

Federal Airports Authority of Nigeria (FAAN) has terminated two leases granted Bi-Courtney Limited at the Murtala Muhammed Airport, Ikeja for the development and management of a four-star hotel and conference centre, respectively.

In two separate letters, the Authority had informed Bi-Courtney that the leases granted it in respect of the two projects had been terminated as a result of breaches committed by the company in the agreements it signed with FAAN on the two projects.

According to Mr. Yakubu Dati, general manager, Corporate Communications (FAAN), by the said agreements, the two projects were to be completed in 2008 but FAAN graciously extended the construction period to July, 2009 but Bi-Courtney still failed to complete the two projects at the expiration of the extended period.

“By that termination order, the demised premises, in respect of the two projects, have reverted to FAAN automatically, in line with the terms of the agreements.

“It will be recalled that Bi-Courtney forcefully and illegally acquired part of the premises belonging to the Murtala Muhammed Airport, School, Ikeja to construct the conference centre, despite loud protest by the pupils and parents of the school. It was these protests that stopped the company from acquiring the entire premises of the school, which Bi-Courtney had planned to take to another location in Lagos,” Dati said.