Kojo Ansah Mensah, Managing Director and CEO of Jonah Capital, says the company’s operations have been hit hard by the ongoing investment dispute in Nigeria, revealing that staff salaries have been halted after alleged fraudulent documents were used to interfere with the firm’s bank accounts.
The revelations come over renewed diplomatic efforts by Ghana to intervene after businessman Sir Sam Jonah formally petitioned the Minister for Foreign Affairs, Samuel Okudzeto Ablakwa, on December 13, 2025. In his 11-page petition, Sir Jonah accused Nigeria’s CAC of unlawfully expropriating his shares in the Abuja-based River Park Estate project and sidelining court processes.
The petition urges the Ghanaian government to engage Nigerian authorities, alert ECOWAS to possible breaches of regional investment protections, and demand a reversal of the CAC’s actions to safeguard millions of dollars in Ghanaian-led investments.
Sir Jonah’s concerns stem from a dispute involving Paul Odili of Paulo Homes Ltd over alleged land encroachment and share alterations, which he says escalated into unlawful regulatory interference.
Speaking on The Pulse on JoyNews, he said the company’s bank placed a “do not pay” order on its accounts after parties involved in the dispute attempted to alter banking instructions using what Jonah Capital insists are falsified Corporate Affairs Commission (CAC) records.
“Today I’m supposed to be paying salaries for my workers,” he said.
“Our bank wrote to us that because the other party procured that fraudulent CAC document, they used it to go to our bank to try and alter our bank documents… the bank has put a ‘do not pay’ on our account.”
He noted that the freeze affects more than 200 employees across Jonah Capital’s construction, hospitality, and other subsidiary operations, stressing that the situation is taking a toll on lawful business activities.
Kojo Mensah added that the company has had to fight multiple legal battles as a result of what he described as repeated attempts to undermine their operations. He said allegations that Jonah Capital stole shares “have never been established,” yet the company continues to face more than 20 cases triggered by the dispute.
With the matter now elevated to a diplomatic issue between the two countries, Kojo Mensah maintained that Jonah Capital is only seeking fairness within the legal system.
“The only confidence a foreign investor has in going into a foreign environment is that the law will be upheld in court,” he said, expressing hope that justice will eventually prevail.
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