By Ranti Thomas
A Lagos State High Court has been drawn deeper into a heated post-divorce property dispute after former Nigerian Ship-owners Association (NISA) president, Chief Isaac Morakinyo Jolapamo, urged the court to dismiss an application filed by his estranged wife, former Nigerian Television Authority (NTA) staff member, Olufunke Otti, seeking to halt the execution of a judgment over a luxury Ikoyi property.
The dispute centres on a high-value estate located at 23A and 23B Olusegun Aina Street, Parkview Estate, Ikoyi, Lagos, where Justice Olufolake Olufolashade Adewunmi-Oshin of the Lagos State High Court had, on March 26, 2026, ruled in favour of Jolapamo, declaring the property a trust asset linked to proceeds from the sale of two vessels. Despite that ruling, Otti and her companies CTSR Group Limited and CTS Properties Limited—have filed an appeal and asked for a stay of execution pending the outcome of the appellate process.
In a strongly worded counter-affidavit before the court, Jolapamo, who said he is currently living in a hotel due to lack of access to the property, insisted that granting the request would worsen his hardship and deny him the benefit of a judgment he already won. He also accused his ex-wife of demolishing parts of the disputed property during the pendency of the case, illegally removing two Toyota Land Cruiser SUVs, and attempting to sell sections of the estate despite a subsisting caveat placed on the property since December 15, 2020.
The long-running legal battle stems from a marriage contracted in February 2017 at the Federal Marriage Registry in Ikoyi, Lagos, which later collapsed amid disputes over finances and property acquisition. According to court filings, tensions began after proceeds from the sale of two vessels—M.T. MOR PROSPERITY and M.T. MOR POWER became the subject of disagreement between the couple, with Jolapamo alleging that the funds were entrusted to his wife for family investment purposes.
He told the court that he later discovered that the Ikoyi property in contention had been purchased solely in Otti’s name, despite being financed through the vessel proceeds. This discovery led to Suit No. LD/3034LM/2022 at the Lagos State High Court, where he sought recognition of ownership rights and accountability for what he described as mismanaged funds tied to the couple’s shared assets.
On March 26, 2026, Justice Adewunmi-Oshin ruled that Jolapamo had successfully proven that the property was acquired through proceeds from the vessel sales, declaring it a trust asset held for his benefit. The court also restrained Otti and her firms from interfering with the property, ordered repayment of over ₦410 million linked to vessel transactions, directed the remittance of about ₦63 million in rental income, and awarded ₦5 million in damages.
However, Otti and her companies immediately filed a notice of appeal alongside an application seeking a stay of execution and an injunction to suspend enforcement of the judgment. That application has now triggered a fresh legal confrontation between both parties.
Opposing the request, Jolapamo argued that the defendants failed to provide sufficient legal grounds to justify halting the enforcement of a valid court ruling. He maintained that claims of jurisdictional error and alleged denial of fair hearing were not enough to warrant such an order, stressing that the judgment remains binding unless overturned by a higher court.
He further told the court that all parties were fully represented during the trial and had ample opportunity to present their cases before judgment was delivered. According to him, the appeal process does not prevent enforcement of the existing ruling, and granting a stay would unfairly deprive him of the benefits of a judgment already decided in his favour.
Jolapamo also painted a picture of personal hardship, telling the court he has been effectively rendered homeless and forced to live in a hotel under difficult financial conditions. He argued that delaying enforcement would prolong his suffering and deny him access to the property that is central to the dispute.
Beyond the request for stay, his affidavit included fresh allegations that parts of the disputed Ikoyi property were demolished in December 2023 while the case was still ongoing, an act he described as deliberate self-help aimed at frustrating the court process.
He also alleged that despite the existence of a caveat on the property, the defendants attempted to advertise and sell portions of it in 2024, an action that allegedly misled an unsuspecting buyer, Mr. Olatunji Olowolayemo, who reportedly purchased part of the estate without knowledge of the ongoing litigation.
Additionally, Jolapamo accused Otti of unlawfully removing two luxury SUVs Toyota Land Cruiser models with registration numbers KSF 11 AG and MJ 48 JJJ from the property along with his personal belongings, leaving him dependent on hired vehicles for transportation.
He insisted that the balance of convenience favours him, given that he already has a favourable judgment but remains unable to enjoy possession of the property, while the legal battle continues to intensify in court.