A United States-based Nigerian, Mr Kenny Awosika, has asked the Federal High Court in Lagos to declare him as a promoter/co-founder of Green Africa Airways Ltd, entitled to 55 per cent of its authorised share capital.

He also prayed the court to compel the first defendant, Babawande Afolabi, to pay him N625million as damages for breach of an agreement.

The second to sixth defendants in the suit are Green Africa Airways Ltd, Taiwo Afolabi, Kuramo Africa Opportunity II (Mauritius) LLC, Corporate Affairs Commission and the Nigerian Civil Aviation Authority.

In the alternative, the plaintiff is praying the court to order the defendants to pay him the sum of $30,250,000.00 being the monetary value of 55 per cent of Green Africa Airways as at the last valuation in 2019. He made the claims through his counsel Femi Falana (SAN) and D. A. Awosika (SAN) in a suit numbered FHC/L/CS/949/2021.

Awosika, in his statement of claim, averred that he is co-founder and a Director of Green Africa Airways Ltd (registered in Nigeria in 2015) and equally functions as its Director of Information Technology and Innovation of the second defendant.

He said he is also the founder and co-owner of Green White Group LLC (GWG Maryland), a limited liability company registered in Germantown, Maryland, United States of America.

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The plaintiff averred that on 26 September 2013, he and Afolabi registered GWG, Maryland, with a 55 – 45 per cent ownership ratio in his favour.

He took on most of the responsibilities of GWG Maryland and provided the financial and technical support for the formation and incorporation of Green Africa Airways.

It was agreed that he should stay back in the US, where he was earning a salary as a US government contractor so that he could financially support the incorporation of the Nigerian entity, while Afolabi would return to Nigeria to arrange for registering GWG Maryland’s airline business.

Awosika eventually resigned from his job, as part of the agreement between both parties, exited his private businesses in the US, gave up his security clearance with the US government and returned to Nigeria to partake in running the business.

Afolabi had, with Awosika’s financial and technical support, returned to Nigeria years earlier and registered the airline with the CAC with an initial N500million share capital.

The plaintiff averred that unknown to him, “and contrary to the arrangement between the parties, the first defendant listed himself and his brother Taiwo Afolabi (the 3rd Defendant) as the only subscribers and/or shareholders and directors of the 2nd Defendant at incorporation.”

He explained that the first and second defendants were however cash-strapped and unable to procure the funds required to obtain an Air Transport Licence (ATL).

So, he (Awosika) “painstakingly sold his only rental property to raise funds for the procurement of the ATL.” He also withdrew all the funds he had saved and transferred the total funds from both sources to the 1st Defendant for the successful procurement of the ATL.

He alleged that Afolabi, in negotiations with an investor Kuramo Africa Opportunity II (Mauritius) LLC, misrepresented himself as the sole founder of the business. When he (Awosika) found out in 2018, he demanded the documentation of his full rights as regards their business relationship. He also made several demands before Afolabi effected a change in the list of directors, adding Awosika as a director.

Afolabi was also alleged to have, without Awosika’s knowledge, incorporated GWG Delaware and also deliberately omitted the Awosika’s name from the incorporation documents of GWG Delaware and appointed himself (Afolabi) and his brother as shareholders and directors in GWG Delaware.

Other reliefs being sought by Awosika include an order removing forthwith the name of the 3rd Defendant as Director and Shareholder from the 2nd Defendant.

The defendants are yet to file a response and no date has been fixed for hearing of the suit.