Great Nigeria Insurance Plc (GNI) has clarified its position following a fire outbreak at GNI House, located at 47/57 Martins Street, Lagos Island, which occurred during the Christmas break.
In a statement issued at the weekend, the insurer expressed sympathy with all persons affected by the incident, while providing clarification on its relationship with the property.
GNI explained that it holds a long-term lease on the Martins Street property from the Shitta-Bey family, with the agreement due to expire on December 31, 2036. The company said it developed the site into a 25-storey building as part of its strategic investment portfolio.
However, the insurer disclosed that it has been embroiled in a protracted legal dispute with the lessor family over the property. According to GNI, the Shitta-Bey family had instituted several court actions against the company, all of which were resolved in its favour.
The company further alleged that while appeals arising from the cases were pending in 2020, the family forcefully took over the property without legal authorisation and subsequently leased it to third-party tenants.
“GNI has, for over five years, been denied physical possession of the property. The company has no dealings whatsoever with the management or the tenants currently occupying the building,” the statement said.
GNI also sought to reassure its customers and stakeholders that the fire incident has no bearing on its operations, stressing that it does not operate from the affected building.
The insurer noted that its head office remains at No. 8 Omo Osagie Street, off Awolowo Road, Ikoyi, Lagos, from where it continues to conduct its business alongside its branch network across the country.
The company thanked customers and stakeholders for their concern and urged the public to note that the incident does not affect the provision of its insurance services nationwide.
