The Honourable Minister of Aviation, Festus Keyamo has signed the much awaited settlement agreements between the FG, FAAN, Bi-Courtney Limited and Stabilini Visioni Limited.
His words: “Today, I was pleased to formally sign the settlement agreements between the Federal Government of Nigeria, the Federal Airports Authority of Nigeria, Bi-Courtney Limited and Stabilini Visinoni Limited over the nearly 20-year disputes involving MM2 domestic airport and the uncompleted hotel and conference centre opposite the airport. I was joined by the Directors of the Ministry of Aviation, the MD of FAAN, the DG of the ICRC and other Ministry officials. Bi-Courtney Ltd was represented by its alter ego, Dr. Wale Babalakin and his team.
Under President Tinubuโs directive, some two years ago, I initiated and pursued a negotiated settlement with Dr. Wale
Babalakin. As members of the Inner Bar, we both brought all our legal knowledge to bear on so many of the complicated and seemingly intractable issues. We also carried along all members of our teams on both sides. Finally, we found a way out of the logjam”.
“The signing of the agreements today followed the approval granted by the Federal Executive Council on April 30th this year for the negotiated settlement to take place. It put an end to several claims and counterclaims that travelled all the way from the courts of first instance to the Supreme Court” , he said.
“Among several immediate benefits is that the Federal Government, will for the first time in nearly two decades, begin to earn its own share of the revenue from MM2 and the facility can expand its operations to include regional flights (flights within Africa)”, he added.
