Capital Gardens Limited, owned by businessman Kennedy Okonkwo, has issued a public apology to Adewale Oladapo and Oretol Nigeria Limited over false publications and misrepresentations arising from a dispute over the Hampton Island Estate in Lekki, Lagos.
The apology formed part of the Terms of Settlement adopted as a consent judgment by the Lagos State High Court on June 13, 2026, effectively bringing the dispute between the parties to a final resolution.
The consent judgment was entered by Justice Jumoke Olusola Pedro of the High Court of Lagos State.
At the hearing on Wednesday, counsel to the claimant, S.B. Joseph, SAN, informed the court that although an application dated December 3, 2025, had been filed, the parties had since resolved their differences amicably and jointly agreed that the Terms of Settlement be adopted as the final judgment of the court.
He disclosed that the settlement agreement was executed by all parties on January 9, 2026.
Counsel to the defendant, Mariam Oyede, confirmed the settlement and aligned with the request that it be entered as a consent judgment.
By the terms of the judgment, Capital Gardens Limited admitted that certain statements and publications it had previously made against Adewale Oladapo and Oretol Nigeria Limited were false and misleading.
In compliance with the settlement, the company published an unreserved apology in national newspapers, including The Guardian, Leadership, and New Telegraph, all dated January 2, 2026.
In the publications, Capital Gardens acknowledged the embarrassment caused to Adewale Oladapo and Oretol Nigeria Limited and formally retracted the misrepresentations.
Following the publication of the apology, the parties confirmed that all outstanding issues had been resolved, paving the way for the adoption of the Terms of Settlement as the judgment of the court.
The suit, instituted by Capital Gardens Limited, concerned a four-hectare parcel of unreclaimed and submerged land within the approximately 40-hectare Hampton Island Estate.
The disputed portion was delineated in Survey Plan No. FAI/3454/A01/2024/LA, dated February 8, 2024, and prepared by registered surveyor A. I. Fashina.
Court records also clarified that, contrary to misinformation circulating online, the entire Hampton Island Estate spans about 40 hectares and operates under a government-approved layout.
The litigation affected only four hectares, which remain submerged and unreclaimed, while the rest of the estate was not impacted.
The disagreement stemmed from a 2020 transaction under which Oretol Nigeria Limited, as the estate’s developer, agreed to allocate four hectares of land to Capital Gardens Limited upon full reclamation.
However, delays caused by the COVID-19 pandemic, coupled with inflationary pressures and rising construction costs, significantly increased reclamation costs and rendered the project commercially impracticable.
Oretol Nigeria Limited subsequently terminated the agreement, prompting Capital Gardens Limited to institute the suit and make a series of public allegations that later became the subject of the apology and settlement.
By virtue of the consent judgment, the dispute between Capital Gardens Limited and Oretol Nigeria Limited over the unreclaimed and submerged four hectares in Hampton Island Estate has been fully and finally resolved, with all claims settled and no issues remaining before the court.