(L-R) Dele Onabokun, commissioner for housing, Lagos state in handshake with Lai Alabi, CEO of Intercontinental Bank supported by Samuel Adegbite, chairman, board of directors, Intercontinental Homes, after the unveiling of County Estate plague, financed by Intercontinental Bank, in Lagos.

Nigerian Breweries Plc (NB) may be compelled to pay Balogun Okolo Chieftaincy Family of Lagos State the sum of over N155 million and also forfeit two leased parcels of land situate at Abebe Village Road, Iganmu, Lagos if it fails in its bid to defend the claims against it in suit No LD/780/2010 filed by Okolo Family before a Lagos High Court.
The accredited representatives of Balogun Okolo Chieftaincy Family headed by Chief Ganiyu Ariori (claimants) have in their claims said that Nigerian Breweries Plc is their tenant on two parcels of land known as Plots L9 and L21 (the subject matter) at Abebe Village Road, Iganmu, Lagos, adding that NB holds two separate lease agreements which were granted to it by the claimants’ predecessors-in-title.
They pointed out that under the aforesaid agreements, NB is obliged to pay rent to their family as stipulated in the agreements but in violation of the terms and conditions stated in the lease agreements entered into with Okolo Chieftaincy Family, NB failed, refused and or neglected to pay its rent from 2005 till date despite repeated demands.
The claimants stressed that contrary to and following unauthorized encroachment upon parts of their land at Abebe Village Road by Ojora Chieftaincy Family, the defendant has in addition to refusal to pay rent to them, begun to discuss and negotiate with Ojora Family the terms for its continued stay upon their land. It is the position of the claimants that rent due and payable to them by the defendant is in the sum of N152,211,905.13 for the two parcels of land occupied by it.
The Balogun Okolo Family contends that by NB’s refusal to expressly acknowledge their (claimants) title to the subject property, its demand for proof of claimants ownership of the leased property, its refusal to pay rents and opting to negotiate terms of its continued stay on the said property with Ojora Family who are trespassers, it has denied the claimants of their title and is therefore liable to forfeiture of the lease granted to it by the claimants.
Consequently, the claimants seek an order terminating the lease agreements in respect of the two parcels of land known as Plots L9 and L21 occupied by the defendant along  Abebe village road Iganmu, Lagos which was granted to it by their predecessors-in-title.
They also prayed for an order granting immediate possession of the parcels of land described above and payment of the sum of N152,211,905.13, being rent due to Okolo chieftaincy family in respect of the aforesaid parcels of land.
Furthermore, Okolo Family is demanding the sum of N3,106,337.12 per month for the parcels of land known as Plots L9 and L21 leased to NB by them under the lease agreement registered as No. 32 at page 32 in volume 964 and No 52 at page 52 in volume 1326 of the Lands Registry, Lagos.
Besides, in addition to the cost of the action, they are asking for interest on the aforementioned sum of N152,211,905.13 at the rate of 21 per cent per annum until judgement and thereafter at the rate of 10 per cent per month until the full liquidation of the judgement sum.